Economic calendar: All eyes on earnings; EIA report and ECB speeches (22.10.2025)

After the release of Japan’s foreign trade data and UK inflation figures, investors face no major “top-tier” macroeconomic reports today, and the nearly empty calendar is likely to focus attention on earnings from companies such as IBM, SAP and Tesla.

However, we will see Poland’s retail sales for September, completing the picture of the domestic economy after the stronger-than-expected industrial production reading. In forex markets, speeches by ECB President Lagarde and Vice President de Guindos could be important, while commodity investors will look to the weekly EIA report on fossil fuels.

Economic calendar for today:

09:00 BST, Poland – Retail sales for September:

• Forecast 6.8% YoY; Previous 3.0% YoY

12:00 BST, Eurozone – Speech by ECB Vice President de Guindos

13:25 BST, Eurozone – Speech by ECB President Lagarde

15:30 BST, United States – EIA Report:

• Heating oil inventories: Previous -0.519M

• Gasoline inventories: Previous -0.267M

• Weekly refinery crude utilization (t/t): Previous -6.7%

• Gasoline production: Previous -0.394M

• Crude oil imports: Previous -1.754M

• Distillate fuel production: Previous -0.577M

• Cushing crude inventories: Previous -0.703M

• Crude throughput by refineries (t/t): Previous -1.167M

• Crude oil inventories: Forecast 2.200M; Previous 3.524M

• Weekly distillate prices (EIA): Previous -4.529M

16:00 BST, Germany – Speech by Bundesbank Vice President Buch

18:00 BST, United States – 20-year Treasury auction: Previous 4.613%

21:00 BST, United Kingdom – Speech by BoE Vice President Woods

21:00 BST, United States – Speech by Fed Vice Chair for Supervision Barra