Economic calendar: German Ifo report and US home sales (24.09.2025)

After a week’s start dominated by Fed members’ speeches and PMI reports, a data-light Wednesday may help limit volatility following yesterday’s profit-taking on Wall Street. Still, markets are likely to just hold their breath ahead of Thursday’s full schedule of Fed speeches and Friday’s PCE inflation release.

In Europe, the key release will be the German Ifo business survey. A month ago, data showed strong resilience among entrepreneurs to ongoing global trade shifts, but the recent PMI drop may signal a correction in optimism.

In the US, housing market data is due, with recent weeks showing notable weakness, raising concerns about the American consumer. Commodity markets will be influenced by the EIA report.

Economic calendar for today:

08:00 BST, Germany – Speech by Balz from the Bundesbank

09:00 BST, Germany – Ifo report for September:

• Business Climate Index: forecast 89.3; previous 89.0

• Current Assessment: forecast 86.5; previous 86.4

• Business Expectations: forecast 92.0; previous 91.6

13:30 BST, United States – Housing and construction sector for August:

• Building permits m/m: forecast -3.7%; previous -2.2%

• Building permits (units): forecast 1.312M; previous 1.362M

• New home sales m/m: previous -0.6%

• New home sales (units): forecast 650K; previous 652K

15:30 BST, United States – EIA report:

• Gasoline inventories: previous -2.347M

• Gasoline production: previous -0.180M

• Distillate inventories: previous +0.670M

• EIA weekly distillate prices: previous 4.046M

• Distillate fuel production: previous -0.274M

• Crude oil inventories in Cushing: previous -0.296M

• Crude oil imports: previous -3.111M

• Refinery crude runs w/w: previous -0.394M

• Crude oil inventories: previous -9.285M

• Refinery utilization w/w: previous -1.6%

18:00 BST, United States – 5-year Treasury note auction: previous 3.724%

21:10 BST, United States – Speech by FOMC member Daly