Economic Calendar Summary: Week of July 27, 2026

Market Overview

The week begins with a significant decline in oil prices, attributed to reports indicating a cessation of hostilities between the US and Iran in the Strait of Hormuz. This geopolitical development has led to a drop in WTI crude prices by over 7% and Brent crude by approximately 5%, retreating from two-month highs that followed the recent Middle Eastern conflict.

Market Movements

In the commodities market, oil prices are the primary focus, with WTI and Brent experiencing notable declines. Conversely, silver has seen an increase of 2.57%, and major indices such as the US100 and EU50 have gained 1.41% and 1.36%, respectively. This suggests a rebound in market sentiment and a renewed appetite for riskier assets. European indices, including DE40, SPA35, and ITA40, have also shown positive movements, alongside gains in Asian markets like JP225 and CHN.cash.

Macroeconomic Data Releases

Key economic data to watch this week includes:

• Monday, July 27:
  • 10:00 - Germany Ifo Institute Index (business climate) for July
  • 14:30 - US Durable Goods Orders for June
• Tuesday, July 28:
  • 05:05 - Speech by the RBA Governor
  • 22:40 - US API report on crude oil stock changes
• Wednesday, July 29:
  • 03:30 - Australia CPI inflation for Q2
  • 16:30 - US EIA report on crude oil and petrol stocks
  • 20:00 - US Federal Reserve interest rate decision
  • 20:30 - FOMC press conference
• Thursday, July 30:
  • 09:00 - Spain CPI inflation for July and GDP for Q2
  • 11:00 - Eurozone GDP for Q2
  • 13:00 - Bank of England interest rate decision
  • 14:00 - Germany CPI inflation for July
  • 14:30 - US GDP for Q2 and PCE inflation for June
  • 16:30 - US EIA natural gas stock figures
• Friday, July 31:
  • 00:00 - Japan BoJ interest rate decision and press conference
  • 01:50 - Japan industrial production and retail sales for June
  • 03:30 - China CFLP PMI indices for July
  • 09:30 - Poland CPI inflation for July
  • 11:00 - Eurozone HICP and core HICP inflation for July

Key Events to Watch

The highlight of the week will be the Federal Reserve's interest rate decision on Wednesday, with markets currently pricing in a 35-40% chance of a rate hike, a significant increase from 10% in June. This shift is largely due to rising oil prices and inflation concerns. Additionally, earnings reports from major tech companies, including Microsoft, Meta, Apple, and Amazon, will be closely monitored, alongside other significant economic releases throughout the week.