Several key economic releases are scheduled for the week of 4 – 8 August 2025. On Monday, 4 August at 0630 GMT, Switzerland will release its CPI m/m data, with June showing a +0.2% rise and July expected to remain steady.
The U.S. JOLTs job openings for May stood at 7.769 million, with June’s figure (due 29 July, 1400 GMT) expected to fall to 7.1 million, signalling a cooling labour market under tight Fed policy.
Gold is trading near $3,365 per ounce on Friday after two consecutive sessions of losses. Market participants are closely watching tariff talks, with the U.S. and EU reportedly nearing a deal, following a separate agreement between Washington and Japan.
The European Central Bank (ECB) is expected to hold interest rates steady on Thursday, pausing after seven consecutive rate cuts over the past year.
U.S. stock futures edged higher on Wednesday following President Trump’s announcement of a new trade deal with Japan, which includes a 15% tariff on Japanese exports.
The U.S. dollar index extended its decline on Monday, falling below the 98 mark as investor sentiment remained cautious.
Gold prices climbed to around $3,350 per ounce on Monday as market jitters over President Donald Trump's tariff agenda intensified. U.S. Commerce Secretary Howard Lutnick reaffirmed on Sunday that August 1 marks a firm deadline for implementing the so-called reciprocal tariffs.
The week begins with Japan’s Upper House election on Sunday, July 20 (All Day), a major political test for PM Ishiba’s coalition, which risks losing its majority amid rising voter discontent.
A fresh round of strong U.S. economic data, including robust retail sales and a solid Philly Fed business index, boosted risk appetite on Thursday.
Midway through Wednesday’s U.S. session, markets briefly reacted to reports suggesting President Trump might remove Fed Chair Jerome Powell after months of criticising him for not cutting interest rates.
Since returning to the White House in January, President Donald Trump has repeatedly criticised Federal Reserve Chair Jerome Powell for not cutting interest rates, intensifying speculation that he may attempt to pressure the Fed.
U.S. CPI rose 0.1% m/m in May, with June expected at 0.3%. On a y/y basis, May CPI was 2.4%, with June forecasted to increase to 2.6%.
Gold prices climbed to approximately $3,374 per ounce on Monday during the Asian trading session. The rally was driven by renewed perceived safe-haven demand after President Donald Trump announced new tariffs, intensifying global trade tensions.
The economic calendar for the week starting Monday, 14 July 2025, begins quietly, with no major releases scheduled that day. On Tuesday, 15 July, attention turns to several high-impact events
U.S. President Donald Trump announced that the United States will impose a 35% tariff on Canadian imports starting August 1, a sharp increase from the existing 25% rate.
U.S. stocks held their ground after the release of the Federal Reserve’s minutes from its June 17–18 meeting, which revealed that only a few officials anticipated rate cuts as early as this month.
The Monetary Policy Committee decided to keep the Official Cash Rate (OCR) unchanged at 3.25%. While annual consumer price inflation is expected to rise toward the upper end of the 1 – 3% target band by mid-2025, easing domestic inflation and spare capacity in the economy are projected to bring inflation back toward 2% by early 2026.
The Reserve Bank of Australia (RBA) surprised markets on Tuesday by holding its cash rate steady at 3.85%, defying widespread expectations of a rate cut.
The U.S. dollar remained near multi-year lows on Monday during the Asian trading session, marking its weakest level since 2021 against the euro and its lowest since 2015 against the Swiss franc, as markets braced for potential trade-related headlines ahead of President Donald Trump’s looming tariff deadline.
On Monday, 7 July at 09:00 GMT, the Eurozone will release its Retail Sales YoY for May, expected to slow to 1.5% from 2.3% due to base effects and weak consumer demand.
