Economic calendar: Ukraine talks remain in focus (18.08.2025)

Today’s session will be exceptionally poor in macroeconomic data releases, which will sharpen market attention on the Trump–Zelensky meeting, joined by European leaders and NATO’s Secretary General.

Although the biggest risk of a top-down Trump–Putin arrangement has been postponed, the latest comments from the U.S. president, that “Crimea and NATO are off the table for Ukraine,” may undermine sentiment in European markets. Nevertheless, the greatest volatility is expected in energy commodities, which remain a key bargaining chip in the White House’s negotiations with Russia.

Economic calendar for today:

10:00 BST, Eurozone – June trade balance

Forecast: 18.1B; Previous: 16.2B

13:00 BST, Poland – July inflation data:

Core CPI: Forecast: 3.3% y/y; Previous: 3.4% y/y

13:15 BST, Canada – July housing & construction data:

Housing starts: Forecast: 264.0K; Previous: 283.7K

13:30 BST, Canada – Foreign securities purchases (June):

Forecast: -4.75B; Previous: -2.79B

13:30 BST, Canada – Canadian purchases of foreign securities (June):

Previous: 13.370B

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