Forex Economic Calendar: Key Events for the Week Ahead (July 21 – 27, 2025)
The forex market is gearing up for an action-packed week from July 21-27, 2025, with a lineup of events poised to drive volatility across major currency pairs. Whether you’re trading EUR/USD, USD/JPY, or AUD/USD, staying ahead of these economic releases, central bank updates, and geopolitical developments is crucial for spotting opportunities and managing risks. Below is a detailed, day-by-day guide to the most important forex events this week, along with their potential impact on currency markets. Let’s dive in!
Monday, July 21, 2025
- U.S. Leading Index
The U.S. Leading Economic Index (LEI) offers a forward-looking view of economic activity. A stronger-than-expected result could lift the U.S. dollar (USD) by signaling robust growth, while a weaker reading might stoke fears of a slowdown, pressuring the USD. - Switzerland M3 Money Supply
This data measures money supply growth in Switzerland, a key indicator for inflation and monetary policy. A significant rise could hint at inflationary pressures, potentially strengthening the Swiss franc (CHF). - Hong Kong CPI
Hong Kong’s Consumer Price Index (CPI) tracks inflation trends. Higher-than-expected inflation might bolster the Hong Kong dollar (HKD) by suggesting tighter policy ahead, while soft data could weaken it.
Tuesday, July 22, 2025
- Australia RBA Meeting Minutes
The Reserve Bank of Australia (RBA) releases its latest meeting minutes, revealing its stance on interest rates and the economy. Hawkish comments could boost the Australian dollar (AUD), while dovish tones might drag it lower. - U.S. Fed Chair Powell Speaks
Federal Reserve Chair Jerome Powell’s speech is a headline event for forex traders. Any hints about future rate hikes or cuts could trigger sharp USD movements. Expect heightened volatility as markets dissect his words. - UK Public Sector Net Borrowing
This report details the UK government’s borrowing levels. A larger-than-expected deficit could raise fiscal worries, weakening the British pound (GBP), while a smaller figure might offer support. - Mexico Retail Sales
Retail sales data reflects consumer spending in Mexico. Strong numbers could lift the Mexican peso (MXN), signaling economic health, while disappointing results might pressure it downward.
Wednesday, July 23, 2025
- Japan Bank of Japan Core CPI
Japan’s core CPI measures underlying inflation trends. A higher reading could spark speculation of tighter monetary policy, strengthening the Japanese yen (JPY), while weak data might keep it subdued. - Singapore CPI
Singapore’s inflation data could sway the Singapore dollar (SGD). Rising prices might prompt a hawkish response from the Monetary Authority of Singapore, supporting the SGD. - South Korea Q2 GDP
South Korea’s GDP release highlights economic growth. A robust figure could lift the South Korean won (KRW), while a slowdown might weigh on the currency. - U.S. Existing Home Sales
This report gauges the U.S. housing market’s strength. Positive data could reinforce USD strength by signaling economic vigor, while a drop might fuel concerns.
Thursday, July 24, 2025
- Japan au Jibun Bank Services PMI
The Services PMI measures Japan’s services sector activity. A reading above 50 indicates expansion, potentially boosting the JPY, while below 50 could signal contraction and weaken it. - Eurozone HCOB Manufacturing PMI
This PMI tracks manufacturing health in the Eurozone. A strong result could lift the euro (EUR), while weakness might pressure it amid growth concerns. - UK S&P PMI
The UK’s PMI reflects business activity across sectors. A better-than-expected reading could support the GBP, while a miss might drag it down. - U.S. Unemployment Claims
Weekly jobless claims provide a snapshot of the U.S. labor market. Lower claims could strengthen the USD, while a spike might signal trouble. - U.S. PMI
Covering both manufacturing and services, the U.S. PMI offers insights into economic activity. Strong data could bolster the USD, while weak figures might temper its rally. - ECB Press Conference
The European Central Bank’s press conference could be a game-changer for the EUR. Traders will watch for signals on rate cuts or stimulus, which could drive significant volatility.
Ongoing Geopolitical Events
- Trade Tensions: EU vs. US
With an August 1 deadline approaching for potential EU tariffs on U.S. goods, tensions are simmering. Escalation could weaken the EUR and bolster safe-haven currencies like the USD and JPY. - Japanese Upper House Election
Japan’s Upper House election could shape fiscal and monetary policy. A surprise outcome might introduce uncertainty, impacting the JPY.
Why This Week Matters for Forex Traders
From central bank signals to PMI data and geopolitical risks, July 21-27, 2025, is packed with market-moving events. The Fed, ECB, and RBA could set the tone for rate expectations, while economic releases will shed light on global growth trends. Add in trade tensions and election uncertainty, and you’ve got a recipe for volatility. Keep a close eye on pairs like EUR/USD, USD/JPY, and GBP/USD—opportunities abound for those who stay informed.
Trade smart, monitor updates, and capitalize on the action this week!
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