Economic calendar: US data and inflation in Europe

Flash CPI in Germany is the highlight of the European session
ISM services, claims in the US are the figures of the day
Market focus on policy tightening after hawkish FOMC minutes yesterday

Today’s calendar is a bit of a breather between yesterday’s ADP and FOMC minutes and tomorrow’s NFP. However, traders will waste no time in debating the impact of suddenly oh-so hawkish Fed on the markets. Because the pace of expected tightening seems to be taking markets by surprise the focus can be on weekly claims – the data’s been the strongest in more than 50 years!

9:30 am (GMT) – UK – final December services PMI (consensus 53.2 points)

10:00 am – EMU – November PPI (consensus 23%)

12:30 am – US – December Challenger report (planned job cuts)

1:00 pm – Germany – December CPI (consensus 5.1% y/y)

1:30 pm – US – November trade balance (consensus -$69.9 bilion), initial claims (consensus 200k)

3:00 pm – US – December ISM services (consensus 66.9 points), November durable orders (consensus +2.5% m/m)

15 July 2026, 10:26 AM

Figure of the Day: What is next for July’s strongest currency? (15.07.2026)

15 July 2026, 8:48 AM

Economic Calendar: Wednesday brings big Q2 earnings and PPI inflation (15.07.2026)

15 July 2026, 7:25 AM

Morning Wrap: What’s next with the Strait of Hormuz, inflation and US interest rates? (15.07.2026)

14 July 2026, 4:10 PM

Fed Chair Kevin Warsh’s Q&A from Congress Testimony: Inflation stability is a key

Economic reports

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