Economic Calendar Summary - July 22, 2026
Overview
The US earnings season is currently underway, with notable reports expected from major companies such as Tesla and Google. The previous day saw General Motors exceed expectations with a revenue of $48 billion and an EPS of $3.57, prompting an upward revision of their fiscal year-end forecasts.
Key Economic Data
Germany
The ZEW economic sentiment index for Germany rose by 15.8 points in July, indicating improved expectations for the economy. However, the current economic situation remains negative, with the assessment improving only slightly.
Hungary
The Hungarian National Bank (MNB) has cut interest rates for the second time since the onset of the war in Iran, responding to inflation dropping below their target. Despite this, the reference rate remains higher than in Poland, suggesting potential for further cuts.
United Kingdom
UK inflation data for June showed a decline to 2.6%, primarily due to lower fuel prices. However, core inflation remained unchanged, which is a concern for the Bank of England. Market expectations still lean towards two interest rate hikes by the end of the year.
Upcoming Economic Releases
- Poland: Retail Sales (June) - Expected: 5.3%
- South Africa: CPI Inflation (June) - Expected: 4.7%
- DOE Crude Oil Inventories: Expected: -1950k
- Australia: Unemployment Rate (June) - Expected: 4.4%
Market Focus
Today is significant for the US markets, with earnings reports from major companies like Tesla, Google, AT&T, and IBM expected to influence market sentiment and indices. Additionally, oil prices are reacting to geopolitical tensions, particularly between the USA and Iran, which have escalated recently.
Currency Insights
The USD/JPY pair has reached its highest level in nearly 40 years, driven by the carry trade strategy and geopolitical tensions affecting energy prices, which are crucial for Japan's economy.