Economic calendar: Housing market and EIA report, but trade remains in focus (23.07.2025)

Today's session is light on macroeconomic data releases, with market attention remaining almost entirely focused on trade-related developments and big tech earnings (Tesla and Alphabet).

Following the announcement of a key trade deal between Japan and the U.S., broad optimism spread across markets due to the softer conditions ultimately accepted by Trump.

However, with trade uncertainty easing, domestic issues in Japan—such as the new balance of power in parliament and central bank policy—are expected to regain market focus.

The Japan deal also shifts attention towards the EU-USA talks. Trump has called the bloc one of the toughest negotiators and 30% tariffs looming in have already encouraged talks about first-ever use of EU’s Anti-Coercion Instrument (ACI).

In North America, data from the U.S. and Canadian housing markets is due, along with the EIA report on energy commodities.

Economic Calendar for Today

• 09:00 BST, Poland – June labor market data:

  • Unemployment rate: forecast 5.1%; previous 5.0%

• 10:30 BST, Germany – 10-year German government bond auction (Bund):

  • Previous: 2.630%

• 13:30 BST, Canada – New housing price index for June:

  • Forecast: 0.0% m/m; previous: -0.2% m/m

• 15:00 BST, United States – Existing home sales for June:

  • Forecast: 4.00M; previous: 4.03M

• 15:00 BST, United States – Existing home sales (m/m) for June:

  • Previous: 0.8% m/m

• 15:30 BST, United States – EIA report:

  • Heating oil inventories: previous -0.846M

  • Gasoline production: previous -0.815M

  • Weekly EIA distillate prices: previous 4.173M

  • Distillate fuel production: previous -0.109M

  • Refinery crude throughput (w/w): previous -0.157M

  • Crude oil imports: previous -0.395M

  • Weekly refinery utilization rates (w/w): previous -0.8%

  • Crude oil inventories: forecast -1.400M; previous -3.859M

  • Crude inventories at Cushing: previous 0.213M

  • Gasoline inventories: previous 3.399M

• 18:00 BST, United States – 20-year bond auction:

  • Previous: 4.942%