​​​​​​​Economic calendar: A full day of key data and policymakers' speeches (21.11.2025)

Today promises to be an exceptionally busy day for the financial markets, with a full economic calendar packed with key releases and events. Markets will receive preliminary data from the most important European economies, including PMI for both manufacturing and services, which will indicate the pace of economic activity across the region. In the United States, significant publications will also be released, including the University of Michigan report on consumer sentiment. On top of that, speeches from key policymakers, including representatives of the Fed, ECB, and SNB, may have a notable impact on currency and equity markets. This is a day in which every indicator and every statement could trigger market reactions, making it essential to follow events closely.

Today’s Economic Calendar(CET)

08:00 – United Kingdom
Retail Sales – October: actual –1.1% m/m (forecast 0.0%, previous 0.7%)
Retail Sales – October: actual 0.2% y/y (previous 1%)

08:45 – France
Business Confidence Index – November: forecast 100 (previous 101)

09:00 – Eurozone
Speech by ECB Board Member Luis de Guindos

09:15 – France
Preliminary Manufacturing PMI – November: forecast 49 (previous 48.8)
Preliminary Services PMI – November: forecast 48.5 (previous 48)

09:30 – Germany
Preliminary Manufacturing PMI – November: forecast 49.8 (previous 49.6)
Preliminary Services PMI – November: forecast 54 (previous 54.6)

09:30 – Eurozone
Speech by ECB President Christine Lagarde

10:00 – Poland
Economic Sentiment – November

10:00 – Eurozone
Preliminary Manufacturing PMI – November: forecast 50.1 (previous 50)
Preliminary Services PMI – November: forecast 52.9 (previous 53)

10:30 – United Kingdom
Preliminary Manufacturing PMI – November: forecast 49.3 (previous 49.7)
Preliminary Services PMI – November: forecast 52 (previous 52.3)

13:30 – USA
Speech by New York Fed President John Williams

13:40 – Switzerland
Speech by SNB President Martin Schlegel

14:00 – Germany
Speech by Bundesbank President Joachim Nagel

14:30 – Canada
Retail Sales – September: forecast –0.7% m/m (previous 1%)
Retail Sales ex-Autos – September: forecast –0.6% m/m (previous 0.7%)
New House Price Index – October: forecast 0.0% (previous –0.2%)

14:30 – USA
Speech by Fed Board Member Michael S. Barr

14:45 – USA
Speech by Fed Board Member Philip Jefferson

15:00 – USA
Speech by Dallas Fed President Lorie Logan

15:45 – USA
Preliminary Manufacturing PMI – November: forecast 52 (previous 52.5)
Preliminary Services PMI – November: forecast 54.6 (previous 54.8)

16:00 – USA
University of Michigan Report – November:

• Consumer Sentiment Index: forecast 50.3 (previous 53.6)

• Short-term Inflation Expectations: forecast 4.7 (previous 4.6)

• Long-term Inflation Expectations: forecast 3.6 (previous 3.9)

19:00 – USA
Rig Count – weekly: 418 (previous 417)