Highlights of the week

• US CPI and PPI will test if inflation keeps the dollar supported.
• The Bank of Canada decision will guide CAD.
• China GDP, UK GDP and US retail sales will show demand strength.

What Now

This week’s main risk is US inflation. A hot CPI or PPI print would support US yields, strengthen the dollar and pressure gold and risk FX, while softer inflation would revive the disinflation trade. US retail sales will show whether consumers remain resilient or are starting to weaken under price pressure. China GDP will drive commodity FX sentiment, the BoC decision will guide CAD, Eurozone CPI will shape ECB expectations, and UK GDP will be key for sterling.

Market Events and Announcements (GMT+3)

Monday, July 13, 2026

• No major events scheduled

Tuesday, July 14, 2026

• 15:30 – United States (USD) – CPI MoM for June, previous 0.50%
• 15:30 – United States (USD) – Core CPI MoM for June, previous 0.20%
• 15:30 – United States (USD) – CPI YoY for June, previous 4.20%

Wednesday, July 15, 2026

• 05:00 – China (CNY) – GDP YoY for Q2, previous 5.00%
• 15:30 – United States (USD) – PPI MoM for June, previous 1.10%
• 16:45 – Canada (CAD) – BoC Interest Rate Decision, previous 2.25%

Thursday, July 16, 2026

• 09:00 – United Kingdom (GBP) – GDP MoM for May, previous -0.10%
• 15:30 – United States (USD) – Retail Sales MoM for June, previous 0.90%
• 15:30 – United States (USD) – Core Retail Sales MoM for June, previous 0.80%
• 15:30 – United States (USD) – Philadelphia Fed Manufacturing Index for July, previous 10.3
• 15:30 – United States (USD) – Initial Jobless Claims

Friday, July 17, 2026

• 12:00 – Eurozone (EUR) – CPI YoY Final for June, forecast 2.80%, previous 3.20%