Last week saw a couple of key themes dominate as the week progressed. One was the definite increase in hostilities in the Middle East, which has also continued through the weekend, while the other was a correction in sentiment for tech stocks, which has seen global bourses retreat for the last few days.
The week ahead looks like being another lively one, with plenty of data due out alongside a big earnings calendar, while the conflict in the Middle East will continue to add significant volatility to the mix.
It’s a quiet week in terms of US data; however, there are some key inflation numbers due out from other major global economies. However, the major fundamental update of the week will come on Thursday when the European Central Bank announces its latest interest rate call.
Here is our usual day-by-day breakdown of the major risk events this week:
Monday
There is little on the event calendar on Monday to move markets; however, updates from the weekend on the conflict in the Gulf are likely to lead to a busy day for traders. Canadian CPI data early in the New York session will see a focus on Canadian markets; however, expect geopolitics to dominate.
Tuesday
Kiwi markets will be in focus early in the day on Tuesday, with key CPI numbers due out in the Asian session. The European session will see the release of the latest UK employment numbers early in the day before focus jumps across the Channel for the ZEW Business Confidence data.
Wednesday
A quieter day on the macroeconomic calendar on Wednesday, with just the key UK CPI data coming midway through the trading day to divert trader attention from geopolitical updates.
Thursday
The Asian session kicks off with a strong focus on Australian markets, with Australian Employment data due out early in the Sydney session. The London session sees the highlight of the week, with the European Central Bank Interest Rate Decision due out, while the New York session sees the usual US Weekly Unemployment Claims data released.
Friday
It is a quiet Asian session to start the final trading day of the week, but things get busier as the day progresses, with a raft of Flash Manufacturing and Services PMI numbers out across several regions, including France, Germany, the UK, and the US. UK Retail Sales data is also due out early in the London session, while the New York session sees the release of the latest US Home Sales numbers.The Week Ahead – Week Commencing 20 July 2026
Last week saw a couple of key themes dominate as the week progressed. One was the definite increase in hostilities in the Middle East, which has also continued through the weekend, while the other was a correction in sentiment for tech stocks, which has seen global bourses retreat for the last few days.
The week ahead looks like being another lively one, with plenty of data due out alongside a big earnings calendar, while the conflict in the Middle East will continue to add significant volatility to the mix.
It’s a quiet week in terms of US data; however, there are some key inflation numbers due out from other major global economies. However, the major fundamental update of the week will come on Thursday when the European Central Bank announces its latest interest rate call.
Here is our usual day-by-day breakdown of the major risk events this week:
Monday
There is little on the event calendar on Monday to move markets; however, updates from the weekend on the conflict in the Gulf are likely to lead to a busy day for traders. Canadian CPI data early in the New York session will see a focus on Canadian markets; however, expect geopolitics to dominate.
Tuesday
Kiwi markets will be in focus early in the day on Tuesday, with key CPI numbers due out in the Asian session. The European session will see the release of the latest UK employment numbers early in the day before focus jumps across the Channel for the ZEW Business Confidence data.
Wednesday
A quieter day on the macroeconomic calendar on Wednesday, with just the key UK CPI data coming midway through the trading day to divert trader attention from geopolitical updates.
Thursday
The Asian session kicks off with a strong focus on Australian markets, with Australian Employment data due out early in the Sydney session. The London session sees the highlight of the week, with the European Central Bank Interest Rate Decision due out, while the New York session sees the usual US Weekly Unemployment Claims data released.
Friday
It is a quiet Asian session to start the final trading day of the week, but things get busier as the day progresses, with a raft of Flash Manufacturing and Services PMI numbers out across several regions, including France, Germany, the UK, and the US. UK Retail Sales data is also due out early in the London session, while the New York session sees the release of the latest US Home Sales numbers.Disclaimer:
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Publication date:
2026-07-20 11:17:26 (GMT)
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