Second Quarter Euroland GDP Growth and Some Central Bank Rate Announcements – Currency Thoughts

October 18 – 24, 2025 – Currency Thoughts


Next Week’s Menu: October 18 – 24, 2025

October 17, 2025

Central Banks: Interest rate policy meetings are scheduled in China, Indonesia, Hungary, Turkey, Ukraine, Russia and South Korea. Some of the central bankers with scheduled speaking engagements are ECB President Lagarde, Bank of England Governor Bailey, Nagel and Cipollone of the European Central Bank, and Bank of Japan Board member Takada. The Bank of Canada’s quarterly Business Outlook Survey will be published.

Special Events: This will be the second to last week before the current trade truce between China and the United States expires, so important developments on that matter are possible. Presidents Trump and Putin will meet somewhere in Budapest either in the coming week or the following one for their second summit on how to end the war in Ukraine. Tomorrow is the final day of the autumn IMF/World Bank meetings in Washington D.C.  An end to the U.S. federal government shutdown appears unlikely during the period. Japanese lawmakers will hold a vote to pick the next prime minister on Tuesday.

Scheduled U.S. Data Releases: Special measures have been taken to permit released of the delayed September consumer price figures next Friday. Other figures normally scheduled for release include new home sales, existing home sales, the indices of leading and coincident economic indicators, preliminary S&P Global purchasing manager surveys for manufacturing, services and their composite activity, the Chicago Fed National Activity index, the K.C. Fed manufacturing survey, and the U. Michigan/Reuters-compiled consumer sentiment index. Weekly jobless insurance claims, energy inventories, mortgage applications and chain store sales.

Japanese and Chinese Releases: Japanese trade balance, preliminary October PMI results, consumer prices, corporate service prices, and revised index of leading economic indicators. Chinese quarterly GDP and capacity utilization as well as monthly unemployment, fixed asset investment, retail sales, industrial production and property prices.

Selected Other Asian Releases: Consumer prices in South Korea, Hong Kong and Singapore. South Korean PPI and Singaporean industrial production. Indian preliminary purchasing manager survey results and index of leading economic indicators.

Euroland Releases: Current account, construction output, consumer confidence and preliminary purchasing manager survey results.

Members of the Euro Area: German and French preliminary PMI results. German, Estonian, Slovenian, Finnish, Latvian, Irish and Spanish producer prices. Italian current account and Spain’s trade balance. French consumer confidence and business sentiment. Spanish unemployment, Belgian business confidence, and Lithuanian industrial production.

U.K. and Switzerland: British preliminary PMI results, CPI, PPI, consumer confidence, retail sales, public sector net borrowing, Rightmove house price index and industrial trends survey. Swiss trade balance.

Eastern Europe: Polish and Russian industrial production. Czech consumer confidence and business sentiment. Polish retail sales and PPI.

Nordic Europe: Icelandic CPI and PPI. Swedish PPI and Danish consumer confidence.

Australia and New Zealand: Australian preliminary PMI results. New Zealand consumer prices and trade balance.

South Africa and Turkey: South African CPI and business cycle indicator. Turkish capacity utilization and consumer sentiment.

Canadian Releases: CPI, PPI, retail sales, manufacturing sales and new house prices.

Mexico and Brazil: Mexican retail sales and index of leading economic indicators. Brazilian consumer confidence.

Copyright 2025, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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