Date: 15-Jul-25, Tue, 7:30 IST Currency: CNY Importance: 3 Previous: 5.40% Forecast: Link Notes: Buoyed by export strength, gross domestic product data due Tuesday is expected to show a relatively robust pace of growth. The WSJ poll pegs China's second-quarter GDP growth at 5.2%, down slightly from 5.4% in the first quarter. A reading that is stronger than forecast is generally supportive (bullish) for the CNY, while a weaker than forecast reading is generally negative (bearish) for the CNY. Learn More: USDCNY USDCNH

Date: 15-Jul-25, Tue, 18:00 IST Currency: USD Importance: 3 Forecast: 0.30% Previous: 0.10% Notes: The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. Forecasts suggest that the YoY core inflation may rise from 2.8% in May to 2.9% in June. A softer-than-expected reading could pave the way for a rate cut as early as the September meeting. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 15-Jul-25, Tue, 18:00 IST Currency: USD Importance: 3 Forecast: 0.30% Previous: 0.10% Notes: The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The YoY headline inflation is expected to increase from 2.4% to 2.5%. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 15-Jul-25, Tue, 18:00 IST Currency: USD Importance: 3 Previous: 2.40% Forecast: Link Notes: The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The YoY headline inflation is expected to increase from 2.4% to 2.5%. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 16-Jul-25, Wed, 11:30 IST Currency: GBP Importance: 3 Previous: 3.40% Forecast: Link Notes: The UK YoY inflation is projected to rise from 3.4% in May to 3.7% in June. Inflation remaining above 3% continues to pose a challenge for the Bank of England in initiating rate cuts. Should the June inflation data come in below expectations, it may strengthen the case for additional cuts later in the year. A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP. Learn More: GBPJPY GBPUSD

Date: 16-Jul-25, Wed, 18:00 IST Currency: USD Importance: 3 Forecast: 0.20% Previous: 0.10% Notes: The Producer Price Index (PPI) measures a change in input prices of raw, semi-finished or finished goods and services. June producer price inflation is due Wednesday and will give a signal on pipeline inflationary pressures. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 16-Jul-25, Wed, 20:00 IST Currency: USD Importance: 3 Previous: 7.070M Forecast: Link Notes: The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation. If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected. If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected. Learn More: USOILRoll

Date: 17-Jul-25, Thur, 14:30 IST Currency: EUR Importance: 3 Forecast: 2.00% Previous: 2.00% Notes: The final estimate of eurozone inflation for June is due on Thursday. Provisional data showed annual inflation crept up to the European Central Bank’s target of 2.0% last month. A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR. Learn More: EURJPY EURUSD

Date: 17-Jul-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: 0.30% Previous: -0.30% Notes: Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending which accounts for a large percentage of US GDP. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 17-Jul-25, Thur, 18:00 IST Currency: USD Importance: 3 Previous: 227K Forecast: Link Notes: Initial Jobless Claims measures the number of people who filed for unemployment insurance for the first time during the past week. This is the most timely U.S. economic data, but the market impact varies from week to week. A reading that is higher than forecast is generally negative (bearish) for the USD, while a lower than forecast reading is generally supportive (bullish) for the USD. Learn More: USDJPY EURUSD

Date: 17-Jul-25, Thur, 18:00 IST Currency: USD Importance: 3 Previous: (4.00) Forecast: Link Notes: The Philadelphia Federal Reserve Manufacturing Index measures the relative level of business conditions amongst manufacturers in the Federal reserve district. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 250 manufacturers in the Philadelphia Federal Reserve district. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 17-Jul-25, Thur, 18:00 IST Currency: USD Importance: 3 Forecast: 0.00% Previous: -0.90% Notes: Retail Sales gauges the change in the aggregate value of sales at the retail level across the country. In May, consumer spending dropped more than forecast. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: USDJPY EURUSD

Date: 18-Jul-25, Fri, 19:30 IST Currency: USD Importance: 3 Forecast: Link Notes: The University of Michigan’s preliminary consumer survey for July at 10 a.m. Results from the last survey showed that consumers were more optimistic about the economy in June than in May, though confidence is still lower than at the start of the year. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 18-Jul-25, Fri, 18:00 IST Currency: USD Importance: 3 Forecast: Link Notes: Housing Starts measures the change in the annualized number of new residential buildings that began construction during the previous month. It is a leading indicator of strength in the housing sector. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD. Learn More: USDJPY EURUSD

Date: 18-Jul-25, Fri Companies: American Express, Charles Schwab, 3M, Truist Financial Notes: Earnings reports from these major companies will provide insights into the health of various sectors of the economy.

Date: 30-Jul-25, Wed, 23:30 IST Currency: USD Importance: 3 Forecast: 4.36% Previous: 4.38% Notes: The Federal Open Market Committee (FOMC) announces its decision on the target range for the federal funds rate. Market expectations (e.g., via CME FedWatch Tool) and the accompanying statement/press conference are crucial for determining market impact and future policy direction. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD. Learn More: CME FedWatch Tool