Economic Calendar: 21-25 July 2025 | Tech Earnings, ECB Rates & PMI

Traders, consumers, and analysts are preparing for another eventful economic week ahead. From Alphabet and Tesla earnings to central bank interest rate decisions and PMI releases, here's this week's upcoming reports:

Key Events This Week: Quick Overview

1. Tuesday 22nd July: Major earnings from Coca-Cola, General Motors, RTX Corporation

2. Wednesday 23rd July: Tech giants Alphabet and Tesla report earnings

3. Thursday 24th July: ECB interest rate decision + global PMI data releases

4. Friday 25th July: U.S.durable goods orders and UK consumer confidence

5. All Week: Critical economic indicators from the U.S., the Eurozone, and the Asia-Pacific

TL;DR

• Markets prepare for a packed economic week featuring earnings from Alphabet, Tesla, and Coca-Cola

• The ECB is expected to hold rates steady amid global uncertainty and stabilising inflation

• PMI reports from the US, Eurozone, and Asia will provide fresh insights into economic health

• Key data includes inflation figures, durable goods orders, and consumer confidence metrics

Corporate Earnings Releases

Earnings reports are set to emerge from leading companies this week, with the main releases scheduled as follows:

Tuesday 22nd July 2025

• RTX Corporation - Defence & aerospace

• Lockheed Martin - Defence contractor

• Coca-Cola - Consumer beverages

• D.R. Horton - Homebuilding

• MSCI - Financial services

• General Motors - Automotive

Wednesday 23rd July 2025

• Alphabet - Technology & search

• Tesla - Electric vehicles

• AT&T - Telecommunications

• Boston Scientific - Medical devices

• IBM - Technology Services

• NextEra Energy - Renewable energy

Thursday 24th July 2025

• TotalEnergies - Energy & oil

• Deutsche Bank - Banking & finance

• Intel - Semiconductor technology

• Comcast - Media & communications

What will these companies' results reveal about the state of the markets and the global economy? Tech earnings from Alphabet and Tesla are particularly watched for insights into AI spending and electric vehicle demand.

ECB Interest Rate Decision - Thursday 24th July

The European Central Bank (ECB) is scheduled to announce its interest rate decision this Thursday, 24th July 2025. After implementing eight rate cuts in just over a year, the ECB now faces mounting trade risks due to potential U.S. tariffs and inflation hovering near its 2% target. 

ECB Rate Decision Expectations:

• Consensus: Rates to remain unchanged

• Current rate: [Previous ECB rate level]

• Key factors: Trade tensions, stabilising inflation, economic uncertainty

• Market impact: EUR currency pairs are likely to see volatility

Given these conditions, the central bank is widely expected to hold rates steady as policymakers adopt a cautious, wait-and-see stance.

Whilst some analysts note that inflation may be stabilising, others express concerns about external economic pressures. However, only time will reveal the broader implications of the ECB's next move, both for global markets and for forex pairs tied to the Euro in particular.

Global PMI Reports

Global economies will release the Purchasing Managers’ Index (PMI) this Thursday (22 July), which reflects the state of a country’s manufacturing and services sectors.

Global PMI Reports - Thursday 22nd July

Global economies will release the Purchasing Managers' Index (PMI) data this Thursday (22nd July), which reflects the state of a country's manufacturing and services sectors.

PMI Release Schedule:

• Eurozone PMI - Manufacturing & services

• France PMI - Key European economic indicator

• Germany PMI - Largest EU economy data

• India PMI - Emerging market insights

• Japan PMI - Asian economic health

• UK PMI - Post-Brexit economic trends

• U.S.PMI - World's largest economy

What PMI Numbers Mean:

• Above 50: Economic expansion

• Below 50: Economic contraction

• Above 55: Strong growth

• Below 45: Significant contraction

(Source: Investing.com)

What will the data reveal about the state of these major economies?

Complete Economic Calendar: Monday 21st - Friday 25th July

Others report this week include the following:

Monday 21st July 2025

• New Zealand Inflation - Consumer Price Trends

• Canada Producer Price Index (PPI) - Manufacturing cost pressures

• U.S. CB Leading Index - Forward economic indicators

• Canada Bank of Canada (BOC) Outlook Survey - Economic sentiment

Tuesday 22nd July 2025

• Fed Chair Jerome Powell's Speech - Monetary Policy Insights

• API Weekly Crude Oil Stock - Energy market data

• South Korea PPI - Asian manufacturing costs

• New Zealand Balance of Trade - Export/Import Data

• Taiwan Export Orders - Global demand indicator

• Australia Reserve Bank of Australia (RBA) Minutes - Central bank outlook

Wednesday 23rd July 2025

• U.S.Existing Home Sales - Housing market health

• EIA Crude Oil Inventories - Weekly petroleum data

• South Korea Consumer Confidence (CCI) - Economic sentiment

• Singapore Inflation - Regional price pressures

• South Africa Inflation - Emerging market data

• Taiwan Retail Sales - Consumer spending trends

Thursday 24th July 2025

• U.S.New Home Sales - Construction sector indicator

• Natural Gas Storage - Energy supply data

• Germany GfK Consumer Confidence - European sentiment

• Canada Retail Sales - Consumer spending

• France Business Confidence - Corporate outlook

• U.S. Chicago Fed National Activity - Regional economic index

Friday 25th July 2025

• U.S. Durable Goods Orders - Manufacturing demand

• Core Durable Goods Orders - Ex-transport manufacturing

• UK GfK Consumer Confidence - British economic sentiment

• Italy Business Confidence - European corporate outlook

(Source: S&P Global)

Market Impact Analysis

This week's economic calendar presents multiple catalysts for market volatility:

Potentially Impactful Events:

• ECB Rate Decision - EUR currency pairs, European equities

• Tech Earnings - NASDAQ, technology sector rotation

• U.S. PMI Data - Dollar strength, Federal Reserve policy expectations

• Powell Speech - Interest rate outlook, monetary policy direction

• Durable goods orders (U.S.manufacturing health)

• Consumer confidence (spending outlook)

• Oil inventory data (energy sector)

Trading Considerations

Key Themes to Watch:

• Central bank policy divergence between the ECB and the Fed

• Technology sector performance after recent AI-driven rallies

• Economic resilience across major economies via PMI data

• Consumer spending trends through confidence and retail sales

Potential Volatility Windows:

• Tuesday: Corporate earnings releases

• Wednesday: Tech earnings after market close

• Thursday: ECB decision + PMI releases

• Friday: U.S. economic data conclusion

Conclusion 

This week promises critical economic data, earnings reports, and central bank decisions that could reshape market sentiment. With corporate giants like Alphabet and Tesla reporting earnings, and the ECB poised to make a pivotal rate decision, investors and analysts alike are on high alert.

PMI data and global economic indicators will offer further insight into economic momentum across key regions. The combination of monetary policy decisions, corporate performance, and economic health metrics creates a perfect storm for market movements.

*Past performance does not reflect future results. This is not trading advice. 

FAQs:

What are the most important earnings to watch this week?

The key earnings releases include Alphabet and Tesla on Wednesday, 23 July, which will provide insights into AI spending and electric vehicle demand, respectively. Coca-Cola on Tuesday offers a consumer staples perspective, while Intel on Thursday reveals the semiconductor sector's health.

What's expected from the ECB rate decision on 24th July?

The European Central Bank is widely expected to hold rates steady due to trade uncertainty and inflation stabilising near the 2% target. The decision will be closely watched for guidance on future monetary policy direction.

Why are PMI reports important for traders?

PMI (Purchasing Managers' Index) reports signal the health of manufacturing and services sectors, helping assess whether economies are expanding or contracting. Readings above 50 indicate growth, below 50 suggest contraction.

What other global economic data should I monitor?

Key reports include U.S. durable goods orders (manufacturing demand), inflation figures from South Africa and Singapore (emerging market pressures), and consumer confidence data from the UK and Germany (spending outlook).

How might this week's events affect currency markets?

The ECB decision will impact EUR pairs, particularly EUR/USD and EUR/GBP. U.S.economic data and Powell's speech could influence Federal Reserve expectations and USD strength. PMI releases may affect regional currency sentiment across major economies.

What sectors could see the most volatility?

Technology stocks face scrutiny from Alphabet and Tesla earnings, the banking sector will react to ECB decisions, energy stocks may respond to oil inventory data, and consumer discretionary companies will be influenced by confidence and retail sales figures.