Economic calendar: EU Industrial Production and Trade Balance Overshadowed by Israel-Iran Conflict (13.06.2025)

An Israeli attack on Iran has triggered a geopolitical earthquake that will remain the primary focus for global financial markets for the foreseeable future. A massive airstrike on nuclear facilities and the deaths of key military commanders and scientists leave no doubt about further escalation of the Middle East conflict.

As a result, market volatility is at record levels and will persist throughout the session, despite a relative lack of major macroeconomic data releases. After final inflation readings from EU countries, attention may turn to the latest data on industrial production and the Eurozone trade balance – two key indicators in the context of the next two weeks, after which the official trade negotiation period between the U.S. and its partners concludes.

Across the Atlantic, we expect data from Canada’s industrial sector, as well as the University of Michigan’s inflation report.

Economic calendar for today:

10:00 – Eurozone – Trade Balance for April

• Forecast: €18.2B

• Previous: €36.8B

10:00 – Eurozone – Industrial Production for April

• Year-on-year: Forecast 1.4%; Previous 3.6%

• Month-on-month: Forecast -1.6%; Previous 2.6%

13:30 – Canada – Manufacturing Sales for April

• Forecast: -2.1% m/m

• Previous: -1.4% m/m

13:30 – Canada – New Motor Vehicle Sales for April

• Previous: 189.3K m/m

13:30 – Canada – Industrial Production

• Capacity Utilization Rate (Q1): Forecast 79.6%; Previous 79.8%

13:30 – Canada – Wholesale Sales for April

• Forecast: -0.9% m/m

• Previous: 0.2% m/m

15:00 – United States – University of Michigan Inflation Report (June, preliminary)

• Consumer Sentiment Index (preliminary): Forecast 59.4; Previous 58.9

• Michigan Consumer Expectations Index: Forecast 53.5; Previous 52.2

• Consumer Sentiment Index (final): Forecast 49.0; Previous 47.9

• 5-year Inflation Expectations: Previous 4.2%

• Inflation Expectations (general): Previous 6.6%

16:00 – Eurozone – ECB’s Elderson speech