Highlights of the week

• US Core PCE, spending and GDP will guide the dollar and Fed outlook.
• Canada CPI will be key for CAD after April’s inflation rebound.
• German and UK PMIs will test Europe’s growth momentum.

What Now

This week’s focus is on whether easing oil prices help inflation cool or whether core pressures remain sticky. Thursday’s US Core PCE report is the key event, with a stronger reading likely supporting the dollar, while a softer print could weigh on USD and support bonds and gold. US GDP, durable goods, income and spending data will also be closely watched.

Canada’s CPI report will be important for CAD, while Germany’s PMI and Ifo surveys and UK PMIs will provide fresh signals on European growth. Stronger data would support EUR and GBP, while weaker readings could revive slowdown concerns.

Market Events and Announcements (GMT+3)

Monday, June 22, 2026

• 15:30 – Canada (CAD) – Inflation Rate YoY for May, previous 2.80%

Tuesday, June 23, 2026

• 10:30 – Germany (EUR) – S&P Global Manufacturing PMI Flash for June, previous 50.1
• 11:30 – United Kingdom (GBP) – S&P Global Manufacturing PMI Flash for June, previous 53.9
• 1:30 – United Kingdom (GBP) – S&P Global Services PMI Flash for June, previous 49.3

Wednesday, June 24, 2026

• 11:00 – Germany (EUR) – Ifo Business Climate for June, previous 84.9

Thursday, June 25, 2026

• 09:00 – Germany (EUR) – GfK Consumer Confidence for July, previous -29.8
• 15:30 – United States (USD) – Core PCE Price Index MoM for May, previous 0.20%
• 15:30 – United States (USD) – Durable Goods Orders MoM for May, previous 7.90%
• 15:30 – United States (USD) – GDP Growth Rate QoQ Final for Q1, forecast 1.60%, previous 0.50%
• 15:30 – United States (USD) – Personal Income MoM for May, previous 0.00%
• 15:30 – United States (USD) – Personal Spending MoM for May, previous 0.50%

Friday, June 26, 2026

• No major events scheduled.