FXTS Weekly Market Preview: 28th July – 2nd August 2025

Welcome to the latest edition of our Weekly Market Preview. Each week, our expert team focuses on the biggest economic data and earnings reports to look out for in the days ahead. This guide is designed by experts for traders and covers the events that could influence the markets in the final week of July. Continue reading on for the full preview.

Economic Highlights

In North America, central bank meetings in both the US and Canada take place. No changes to interest rates are expected from the Federal Reserve or Bank of Canada (BoC). Inflation risks linked to recent tariffs, likely to delay any immediate Fed rate cuts, are set to be the main subject of focus. As for Canada, recent inflation data and PMI surveys suggest ongoing price pressures, reducing the chances of a near-term move by BoC officials. Elsewhere, in a busy week for US releases, the country publishes its first estimate of Q2 GDP, July’s labour market report, and core PCE inflation data for June.

Across Europe, flash GDP and inflation figures for the eurozone are the main highlights. According to recent figures, economic growth across the bloc continued to struggle in July, while inflation trends aligned with the European Central Bank’s (ECB) 2% target. These updates will help shape market expectations for the next potential ECB rate decision. Over in the UK, investor attention shifts to revised economic indicators and the latest business sentiment, as markets assess the country’s current economic health.

Lastly, in the Asia-Pacific region, the Bank of Japan will meet to set monetary policy. Like in the US and Canada, no change in rates are anticipated here. Meanwhile, key economic updates will come from China and Australia. China reveals its official NBS PMI data, offering insights into current industrial trends. Australia’s June CPI figures will be watched for signs around the Reserve Bank of Australia’s future policy steps amid persistent inflation concerns.

Monday 28th July

Earnings

• Fomento Económico Mexicano, S.A.B. de C.V. (FMX) – Q2 2025
• Welltower, Inc. (WELL) – Q2 2025
• Waste Management, Inc. (WM) – Q2 2025
• Cadence Design Systems, Inc. (CDNS) – Q1 2026
• Southern Copper Corporation (SCCO) – Q2 2025
• Enterprise Products Partners L.P. (EPD) – Q2 2025

Releases

• India (Industrial Production, June)

Tuesday 29th July

Earnings

• Visa, Inc. (V) – Q3 2025
• The Procter & Gamble Company (PG) – Q4 2025
• UnitedHealth Group Incorporated (UNH) – Q2 2025
• AstraZeneca PLC (AZN) – Q2 2025
• Merck & Co., Inc. (MRK) – Q2 2025
• Booking Holdings, Inc. (BKNG) – Q2 2025
• The Boeing Company (BA) – Q2 2025
• Spotify Technology S.A. (SPOT) – Q2 2025
• American Tower Corporation (AMT) – Q2 2025
• Starbucks Corporation (SBUX) – Q3 2025
• Mondelez International, Inc. (MDLZ) – Q2 2025
• Royal Caribbean Cruises Ltd. (RCL) – Q2 2025
• United Parcel Service, Inc. (UBS) – Q2 2025
• PayPal Holdings, Inc. (PYPL) – Q2 2025
• Barclays PLC (BCS) – Q2 2025

Releases

• Spain (GDP, Q2 flash)
• Sweden (GDP, Q2 flash)
• United Kingdom (Mortgage Lending and Approval, June)
• United States (CB Consumer Confidence, July)
• United States (Goods Trade Balance, June advance)
• United States (JOLTs Job Openings, June)
• United States (S&P/Case-Shiller Home Price, May)
• United States (Wholesale Inventories, June advance)

Wednesday 30th July

Earnings

• Microsoft Corporation (MSFT) – Q4 2025
• Meta Platforms, Inc. (META) – Q2 2025
• HSBC Holdings plc (HSBC) – Q2 2025
• QUALCOMM Incorporated (QCOM) – Q3 2025
• Arm Holdings plc (ARM) – Q1 2026
• Banco Santander, S.A. (SAN) – Q2 2025
• Automatic Data Processing, Inc. (ADP) – Q4 2025
• UBS Group AG (UBS) – Q2 2025
• Robinhood Markets, Inc. (HOOD) – Q2 2025

Releases

• Australia (Inflation, Q2)
• Australia (Monthly CPI Indicator, June)
• Brazil (BCB Interest Rate Decision)
• Canada (BoC Interest Rate Decision)
• Eurozone (GDP, Q2 flash)
• France (GDP, Q2 preliminary)
• Germany (GDP, Q2 flash)
• Germany (Retail Sales, June)
• Italy (GDP, Q2 advance)
• Mexico (GDP, Q2 preliminary)
• Spain (Inflation, July prelim)
• United States (ADP Employment Change, July)
• United States (FOMC Interest Rate Decision)
• United States (GDP, Q2 advance)
• United States (Pending Home Sales, June)

Thursday 31st July

Earnings

• Apple, Inc. (AAPL) – Q3 2025
• Amazon.com, Inc. (AMZN) – Q2 2025
• Mastercard Incorporated (MA) – Q2 2025
• AbbVie, Inc. (ABBV) – Q2 2025
• Shell plc (SHEL) – Q2 2025
• S&P Global, Inc. (SPGI) – Q2 2025
• Stryker Corporation (SYK) – Q2 2025
• Unilever PLC (UL) – H1 2025
• Comcast Corporation (CMCSA) – Q2 2025

Releases

• Australia (Building Permits, June)
• Australia (Retail Sales, June)
• Canada (GDP, June preliminary)
• China (Mainland) (NBS PMI, July)
• Eurozone (Unemployment Rate, June)
• France (Inflation, July prelim)
• Germany (Inflation, July prelim)
• Germany (Unemployment Rate, July)
• Hong Kong SAR (GDP, Q2 advance)
• Italy (Inflation, July prelim)
• Japan (BoJ Interest Rate Decision)
• Japan (Consumer Confidence, July)
• Japan (Industrial Production, June)
• Japan (Retail Sales, June)
• South Korea (Industrial Production, June)
• Taiwan (GDP, Q2 advance)
• United States (Core PCE Price Index, June)
• United States (Personal Income and Spending, June)

Friday 1st August

Earnings

• Exxon Mobil Corporation (XOM) – Q2 2025
• Chevron Corporation (CVX) – Q2 2025
• Linde plc (LIN) – Q2 2025
• Enbridge, Inc. (ENB) – Q2 2025
• Colgate-Palmolive Company (CL) – Q2 2025

Releases

• Brazil (Industrial Production, June)
• Eurozone (Inflation, July flash)
• Indonesia (Inflation, July)
• Indonesia (Trade, June)
• United States (Average Hourly Earnings, July)
• United States (ISM Manufacturing PMI, July)
• United States (Non-Farm Payrolls, July)
• United States (Unemployment, July)
• United States (UoM Sentiment, July final)
• Worldwide (Manufacturing PMIs, incl. global PMI)

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