As we enter the final stretch of July, traders should brace for a week of moderate but potentially pivotal macroeconomic events. While Monday and Friday are relatively quiet, midweek brings central bank decisions and housing data that could ripple across asset classes.

Tuesday, July 22

GBP 04:15 – BOE Gov Bailey Speaks

USD 07:30 - Fed Chair Powell Speaks

Wednesday, Jul 23

USD 09:00 - Existing Home Sales (Jun)

USD 09:30 - Crude Oil Inventories

AUD 22:05 – RBA Gov Bullock Speaks

Thursday, Jul 24

EUR 7:15 - Deposit Facility Rate (Jul)

EUR 7:15 - ECB Interest Rate Decision (Jul)

USD 7:30 - Unemployment Claims

EUR 7:45 - ECB Press Conference

USD 8:45 - S&P Global Manufacturing PMI, Global Services PMI (Jul)

USD 09:00 - New Home Sales (Jun)

Friday, July 25

GBP 1:00 – Retail Sales (MoM)

This Week's Forex Focus

• EUR/USD: ECB’s rate decision is the headline act. Traders should watch for dovish signals that could weaken the euro.
• USD/JPY: Powell’s speech and PMI data may reinforce or challenge dollar strength.
• GBP/USD: With no major UK data, pair may follow broader USD sentiment.

This Week's Crypto Watch

• Crypto markets remain sensitive to central bank tone. Hawkish signals from Powell or the ECB could pressure Bitcoin and altcoins.
• Watch for volatility around Thursday’s PMI and rate decisions—crypto often reacts to macro cues faster than traditional assets.

This Week's Commodities Outlook

• Gold: ECB and Fed commentary could influence safe-haven flows. A dovish ECB may support gold prices.
• Oil: While no direct data this week, housing and PMI figures may hint at broader economic health, indirectly affecting demand outlook.

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