High volatility is still affecting global markets. Ongoing geopolitical tensions in the Middle East are drawing attention away from major economic data.
However, in the week of April 20–26, 2026, investors will still focus on key economic statistics from Canada, New Zealand, the US, Germany, the Eurozone, and the UK. They will also be watching the results of the People’s Bank of China’s monetary policy meeting.
Note: During the coming week, new events may be added to the calendar, and/or some scheduled events may be canceled. GMT time
The article covers the following subjects:
Major Takeaways
- Monday: The People’s Bank of China’s interest rate decision, Canada’s and New Zealand’s CPI figures.
- Tuesday: UK labor market and US retail sales data.
- Wednesday: UK CPI data.
- Thursday: Preliminary PMI data from Germany, the Eurozone, the UK, and the US by S&P Global.
- Friday: UK retail sales.
- Key event of the week: Preliminary PMI data from Germany, the Eurozone, the UK, and the US by S&P Global.
Monday, April 20
01:15 – CNY: People’s Bank of China Interest Rate Decision
Since May 2012, the People’s Bank of China has been lowering its interest rate to support Chinese manufacturers. Last time, the bank reduced the rate in May 2025 after a long pause, bringing the rate down by 0.1% to its current level of 3.00%.
What will the Chinese central bank do this time after pausing? The People’s Bank of China will likely keep the interest rate unchanged at 3.00% at this meeting, although other decisions are also possible.
Should the People’s Bank of China make statements that deviate from expectations, volatility may increase across the entire financial market, particularly in the Asian market. Investors will closely watch the bank’s assessment of the Chinese economy’s prospects and its policy stance in the short term.
12:30 – CAD: Canada’s Consumer Price Indexes
The Consumer Price Index (CPI) reflects the retail price trends of a selected basket of goods and services. Meanwhile, the Core CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. The inflation target for the Bank of Canada ranges between 1% and 3%. A higher CPI reading is a sign of a rate hike and is positive for the Canadian dollar.
Previous values:
- CPI: 0.5% (+1.8% YoY), 0% (+2.3% YoY) in January 2026, +0.1% (+2.2% YoY), 0.2% (+2.2% YoY), +0.1% (+2.4% YoY), -0.1% (+1.9% YoY), +0.3% (+1.7% YoY), +0.1% (+1.9% YoY), +0.6% (+1.7% YoY), -0.1% (+1.7% YoY) in April, +0.3% (+2.3% YoY) in March, +1.1% (+2.6% YoY) in February, +0.1% (+1.9% YoY) in January 2025, -0.4% (+1.8% YoY) in December 2024.
- Core CPI released by the Bank of Canada: +0.4% (+2.3% YoY), +0.2% (+2.6% YoY) in January 2026, +0.2% (+2.9% YoY), +0.6% (+2.9% YoY), +0.3% (+2.8% YoY), 0% (+2.6% YoY), +0.1% (+2.6% YoY), +0.1% (+2.7% YoY), +0.6% (+2.5% YoY), +0.5% (+2.5% YoY) in April, -0.2% (+2.2% YoY) in March, +0.7% (+2.7% YoY) in February, +0.4% (+2.1% YoY) in January 2025, +0.3% (+1.8% YoY) in December 2024.
The data suggest that moderate inflationary pressures persist, which will likely prompt the Bank of Canada to maintain a pause for now. If the expected data is worse than the previous values, it will negatively affect the Canadian dollar, but if the data exceeds expectations, it will bolster the currency.
22:45 – NZD: Consumer Price Index for Q1 2026
The Consumer Price Index is a key indicator for assessing inflation, which reflects the retail price movements for a group of goods and services comprising the consumer basket. A positive reading strengthens the New Zealand dollar, while a negative one weakens it.
Previous CPI figures: +0.6% (+3.1% YoY) in Q4 2025.
A relative decline in the indicator readings and a value below the forecast may negatively affect the New Zealand dollar.
Tuesday, April 21
06:00 – GBP: Average Weekly Earnings Over the Last Three Months. Unemployment Rate
The UK Office for National Statistics publishes a report on average weekly earnings covering the period for the last three months, including and excluding bonuses.
This report is a key short-term indicator of employee average earnings changes in the UK. An increase in wages is positive for the British pound, whereas a low indicator value is unfavorable. Forecast: The March report suggests that average earnings, including bonuses, rose again over the last three months (December–February) after gaining +3.9%, +4.2%, +4.7%, +4.7%, +4.8%, +5.0%, +4.7%, +4.6%, +5.0%, +5.3%, +5.5%, +5.6%, +5.9%, +6.0%, +5.6%, +5.2%, +4.3%, +3.8%, +4.0%, +4.5%, +5.7%, +5.9%, +5.7%, +5.6%, +5.6%, +5.8%, +6.5%, +7.2%, +7.9%, +8.1%, +8.5%, +8.2%, +6.9%, +6.5%, +5.8%, +5.9%, +6.0%, +6.5%, +6.%, +6.1%, +5.5%, +5.2%, +6.4%, +6.8%, +7.0%, +5.6%, +5.7%, +4.8%, +4.3%, +4.2% in previous periods). Average earnings excluding bonuses likewise increased after gaining 3.8%, 4.2%, +4.5%, +4.6%, +4.6%, +4.7%, +4.8%, +5.0%, +5.0%, +5.2%, +5.6%, +5.9%, +5.8%, +5.9%, +5.6%, +5.2%, +4.8%, +4.9%, +5.1%, +5.4%, +6.0%, +6.0%, +6.0%, +6.1%, +6.2%, +6.6%, +7.3%, +7.7%, +7.8%, +7.8%, +7.8%, +7.3%, +7.2%, +6.7%, +6.6%, +6.6%, +6.7%, +6.5%, +6.1%, +5.8%, +5.5%, +5.2%, +4.7%, +4.4%, +4.2%, +4.2%, +4.1%, +3.8%, +3.7%, +3.8% in previous periods). These figures show continued growth in employee earnings levels, which is favorable for the pound. If the figures turn out to be better than the forecast and/or previous values, the currency will likely strengthen. If the data falls short of expectations, the pound will likely weaken.
The UK unemployment data will be released at the same time. Unemployment is expected to stand at 5.2% over the last three months (December–February), after posting 5.2%, 5.2%, 5.1%, 5.1%, 5.0%, 4.8%, 4.7%, 4.7%, 4.6%, 4.6%, 4.5%, 4.4%, 4.4%, 4.4%, 4.3%, 4.3%, 4.0%, 4.1%, 4.2%, 4.4%, 4.4%, 4.3%, 4.2%, 4.0%, 3.8%, 3.9%, 4.0%, 4.1%, 4.2%, 4.3%, 4.2%, 4.0%, 3.9% in previous periods).
Since 2012, the UK unemployment rate has fallen steadily from 8.0% in September 2012. The unemployment decline is a positive factor for the pound, while its growth negatively impacts the currency.
If the UK labor market data appears to be worse than the forecast and/or the previous value, the pound will be under pressure.
Regardless, when the UK labor market data is released, the pound and the London Stock Exchange are expected to experience increased volatility.
12:30 – USD: US Retail Sales. Retail Sales Control Group
This Census Bureau report on retail sales reflects the total sales of US retailers of all sizes and types. The change in retail sales is a key indicator of consumer spending. The report is a leading indicator, and the data may be subject to significant revisions in the future. High indicator readings strengthen the US dollar, while low readings weaken it. A relative decline in the indicator may have a short-term negative impact on the US dollar, while a rise in the indicator will positively impact the currency.
In February 2026, the value stood at +0.6% after -0.1%, 0% in December 2025, +0.6% in November, -0.1% in October, +0.1% in September, +0.6% in August and July, +1.0%, -0.8%, -0.1%, +1.5%, 0%, -0.9% in January 2025.
Retail sales are the main indicator of consumer spending in the United States, showing the change in the retail industry.
Retail sales serve as an indicator of domestic consumption, contributing the most to the US GDP and being one of the main factors influencing inflation. Deterioration of the indicator values is a negative factor for the US dollar. Inflation deceleration may prompt the Fed to begin the process of monetary policy easing.
The Retail Control Group indicator gauges volume in the retail industry and is used to calculate price indexes for most goods. High readings strengthen the US dollar, while low readings weaken the currency. A slight increase in the figures is unlikely to boost the dollar. If the data is lower than the previous readings, the dollar may be negatively impacted in the short term. Previous values: +0.5%, +0.2%, 0%, +0.2%, +0.6%, -0.2%, +0.7%, +0.5%, +0.9%, +0.3%, -0.2%, +0.5%, +0.8%, -0.5%, +1.0%, 0%, +0.2%, +1.1%, -0.1%, +0.3%, +1.2%, +0.6%, +0.1%, +0.8%, +0.2%, -0.6% in January 2024.
Wednesday, April 22
06:00 – GBP: UK Consumer Price Index. Core Consumer Price Index
The Consumer Price Index (CPI) measures the retail prices of a group of goods and services comprising the UK consumer basket. The CPI is a key indicator of inflation. The British pound’s movement on the currency market and the London Stock Exchange FTSE 100 index performance depend on the release of the CPI data.
In February, the UK consumer inflation posted +0.4% (+3.0% YoY), after -0.5% (+3.0% YoY) in January 2026, +0.4% (+3.4% YoY) in December 2025, -0.2% (+3.2% YoY) in November, +0.4% (3.6% YoY) in October, 0% (+3.8% YoY) in September, +0.3% (+3.8% YoY) in August, +0.1% (+3.8% YoY) in July, +0.3% (+3.6% YoY) in June, +0.2% (+3.4% YoY) in May, +0.3% (+2.6% YoY) in March, +0.4% (+2.8% YoY) in February, +3.0% YoY in January 2025, +0.3% (+2.5% YoY) in December 2024.
The data suggests persistent inflationary pressures in the UK, which are expected to bolster the British pound, particularly if the actual data surpasses the forecasted values.
An indicator reading below the forecast/previous value may cause the weakening of the British pound since low inflation will force the Bank of England to stick to the easy monetary policy course.
The Core CPI, published by the Office for National Statistics, measures the price change in a selected basket of goods and services (excluding food and energy) over a given period. It is a key indicator for assessing inflation and changes in consumer preferences. A positive result strengthens the British pound, while a negative outcome weakens it.
In February, the core CPI posted +3.2% YoY after +3.1% in January 2026, +3.2% in December and November, +3.4% YoY in October 3.5% in September, 3.6% in August, 3.8% in July, +3.7% in June, +3.5% in May, +3.8% in April, +3.4% in March, +3.5% in February, +3.7% in January 2025, +3.2% in December 2024, +2.6% in November, +3.3% in October, +1.7% in September, +3.6% in August, +3.3% in July, +3.5% in June and May, +3.9%, +4.2%, +4.5%, +5.1% in January 2024, December and November, after rising +5.7% +6.1%, +6.2% three months earlier. The publication will likely positively impact the British pound in the short term if it exceeds the forecasted and previous values. A reading below the forecast and/or previous values may weaken the pound.
Thursday, April 23
07:30 – EUR: Manufacturing and Services Purchasing Managers’ Indexes of the German Economy by S&P Global. Composite Purchasing Managers’ Index of the German Economy by S&P Global (Preliminary Release)
The manufacturing and services PMIs are important indicators of the business environment and the health of the German economy. These sectors play a significant role in Germany’s GDP. A reading above 50 indicates a positive outlook and bolsters the euro, while a reading below 50 is negative for the euro. Conversely, data worse than the forecasted and/or the previous value will prove to be negative for the euro.
Previous values:
- Manufacturing PMI: 52.2, 50.9, 49.1, 47.0, 48.2, 49.6, 49.5, 49.8, 49.1, 49.0, 48.3, 48.4, 48.3, 46.5, 45.0, 42.5 in December 2024, 43.0, 43.0, 40.6, 42.4, 43.2, 43.5, 45.4, 42.5, 41.9, 42.5, 45.5, 43.3, 40.8, 39.6, 38.8, 40.6, 43.2, 44.5, 44.7, 46.3, 47.3, 47.1, 46.2, 45.1, 47.8, 49.1, 49.3, 52.0, 54.8, 54.6;
- Services PMI: 50.9, 53.5, 52.4, 52.7, 53.1, 54.6, 51.5, 49.3, 50.6, 49.7, 47.1, 49.0, 50.9, 51.1, 52.5, 51.2 in December 2024, 49.3, 51.6, 50.6, 51.2, 52.5, 53.1, 54.2, 53.2, 50.1, 48.3, 47.7, 45.7, 48.2, 50.3, 52.3, 54.1, 57.2, 56.0, 53.7, 50.9, 50.7, 49.2, 46.1, 46.5, 45.0, 47.7, 49.7, 52.4, 55.0, 57.6, 56.1, 55.8;
- Composite PMI: 51.9, 53.2, 52.1, 51.3, 52.4, 53.9, 52.0, 50.5, 50.6, 50.4, 48.5, 50.1, 51.3, 50.4, 50.5, 48.0 in December 2024, 47.2, 48.6, 47.5, 48.4, 49.1, 50.4, 52.4, 50.6, 47.7, 46.3, 47.0, 47.4, 45.9, 46.4, 48.5, 50.6, 53.9, 54.2, 52.6, 50.7, 49.9, 49.0, 46.3, 45.1, 45.7, 46.9, 48.1, 51.3, 53.7, 54.3, 55.1, 55.6.
08:00 – EUR: Manufacturing and Services Purchasing Managers’ Indexes. Composite Purchasing Managers’ Index of Eurozone Manufacturing Activity by S&P Global (Preliminary Release)
The Eurozone manufacturing and services PMIs are significant indicators of the European economy. Readings above 50 are positive and strengthen the euro, while readings below 50 are negative for the currency. If the figures are worse than the forecasted and/or the previous value, the euro will be affected negatively.
Previous values:
- Manufacturing PMI: 51.6, 50.8, 49.5, 48.8, 49.6, 50.0, 49.8, 50.7, 49.8, 49.5, 49.4, 49.0, 48.6, 47.6, 46.6, 49.6 in December 2024, 45.2, 46.0, 45.0, 45.8, 45.8, 45.8, 47.3, 45.7, 46.1, 46.5, 46.6, 44.4, 43.1, 47.2, 42.7, 43.4, 44.8, 45.8, 47.3, 48.5, 48.8 in January 2023;
- Services PMI: 50.2, 51.9, 51.6, 53.6, 52.4, 53.0, 51.3, 50.5, 51.0, 50.5, 49.7, 50.1, 51.0, 50.6, 51.3, 51.2 in December 2024, 49.5, 51.6, 51.4, 52.9, 51.9, 52.8, 53.2, 53.3, 51.5, 50.2, 48.4, 48.8, 47.8, 48.7, 50.9, 52.0, 55.1, 56.2, 55.0, 52.7, 50.8 in January 2023;
- Composite PMI: 50.7, 51.9, 51.3, 51.5, 52.8, 52.5, 51.2, 51.0, 50.9, 50.6, 50.2, 50.1, 50.9, 50.2, 50.2, 48.0 in December 2024, 48.3, 50.0, 49.6, 51.0, 50.2, 50.9, 52.2, 51.7, 50.3, 49.2, 47.9, 47.6, 46.5, 47.2, 48.6, 52.8, 54.1, 53.7, 52.0, 50.3, 49.3 in January 2023.
08:30 – GBP: Manufacturing and Services Purchasing Managers’ Index. Composite Purchasing Managers’ Index of the UK Manufacturing Sector by S&P Global (Preliminary Release)
The manufacturing and services PMIs serve as a vital indicator of the UK economy’s health. The services sector employs the majority of the UK’s working-age population and contributes approximately 75% of GDP. Financial services continue to be the most important part of the services sector. If the data is worse than the forecast and the previous value, the British pound will likely experience a short-term but sharp decline. If the data exceeds the forecast and the previous value, it will have a positive impact on the currency. At the same time, a PMI reading above 50 is favorable and strengthens the British pound, while a reading below 50 is negative for the currency.
Previous values:
- Manufacturing PMI: 51.0, 51.7, 51.8, 50.6, 50.2, 49.7, 46.2, 47.0, 48.0, 47.7, 46.4, 45.4, 44.9, 46.9, 48.3, 48.0, 49.9, 51.5, 52.5, 52.1, 50.9, 51.2, 49.1, 50.3, 47.5, 47.0, 46.2, 44.8, 44.3, 45.3, 46.5, 47.1, 47.8, 47.9, 49.3, 47.0, 45.3, 46.5, 46.2, 48.4;
- Services PMI: 50.5, 53.9, 54.0, 51.4, 51.3, 52.3, 50.8, 54.2, 51.8, 52.8, 50.9, 49.0, 52.5, 51.0, 50.9, 51.1 in December 2024, 50.8, 52.0, 51.4, 53.7, 52.5, 52.1, 52.9, 55.0, 53.1, 53.8, 54.3, 53.4, 49.5, 49.3, 51.5, 53.7, 55.2, 55.9, 52.9, 53.5, 48.7, 49.9, 48.8, 48.8, 50.0, 50.9, 52.6;
- Composite PMI: 50.3, 53.7, 53.7, 51.4, 51.2, 52.2, 50.1, 53.5, 51.5, 52.0, 50.3, 48.5, 51.5, 50.5, 50.6, 50.4 in December 2024, 50.5, 51.8, 49.6, 53.8, 52.8, 52.3, 53.0, 54.1, 52.8, 53.0, 52.9, 52.1, 48.7, 48.5, 50.8, 52.8, 54.0, 54.9, 52.2, 53.1, 48.5 in January 2023.
13:45 – USD: Manufacturing and Services Purchasing Managers’ Index of the US Economy by S&P Global. Composite Purchasing Managers’ Index (Preliminary Release)
The PMIs of the most important US economic sectors, released by S&P Global, are an important gauge of the US economic conditions. A PMI reading above 50 signals bullishness, bolstering the US dollar, whereas a reading below 50 bodes negatively for the greenback.
Previous values:
- Manufacturing PMI: 52.3, 51.6, 52.4, 51.8, 52.2, 52.5, 52.0, 53.0, 49.8, 52.0, 52.0, 50.2, 50.2, 52.7, 51.2, 49.4 in December 2024, 49.7, 48.5, 47.6, 47.9, 49.6, 51.6, 51.3, 50.0, 51.9, 52.2, 50.7, 47.9, 50.0, 49.8, 49.0, 46.3, 48.4, 50.2, 47.3, 46.9, 46.2, 47.7, 50.4, 52.0, 51.5;
- Services PMI: 49.8, 51.7, 52.7, 52.5, 54.1, 54.8, 54.2, 54.5, 55.7, 52.9, 53.7, 50.8, 54.4, 51.0, 52.9, 56.8 in December 2024, 56.1, 55.0, 55.2, 55.7, 55.0, 55.3, 54.8, 51.3, 51.7, 52.3, 52.5, 51.4, 50.6, 50.1, 52.3, 54.4, 54.9, 53.6, 50.6, 46.8, 44.7, 46.2, 47.8, 49.3, 43.7, 47.3, 52.7, 53.4, 55.6;
- Composite PMI: 50.3, 51.9, 53.0, 52.7, 54.2, 54.6, 53.9, 54.6, 55.1, 52.9, 50.3, 50.6, 53.5, 51.6, 52.7, 55.4 in December 2024, 54.9, 54.1, 54.0, 54.6, 54.3, 54.8, 54.5, 51.3, 52.1, 52.5, 52.0, 50.9, 50.7, 50.2, 52.0, 53.2, 54.3, 53.4, 52.3, 50.1, 46.8 in January 2023.
Friday, April 24
06:00 – GBP: UK Retail Sales
The retail sales economic indicator is a key metric that tracks the level of consumer demand and significantly impacts market performance and the national currency. Additionally, it serves as an indirect indicator of inflation, making it a key concern for a country’s central bank and market participants.
The retail sales report is released by the UK Office for National Statistics. The Retail Sales change is considered to indicate the consumer spending level. High indicator values are positive for the British pound, while low readings are negative.
Previous YoY values: 2.5%, +1.8% in January 2026, +0.4% in December 2025, -0.4%, -0.9%, +1.0%, -0.5%, +1.3%, +0.5%, -1.3%, -0.4%, +1.2%, +1.7%, -0.8% in January 2025.
08:00 – CHF: Swiss National Bank Chairman Martin Schlegel’s Speech
Volatility in the Swiss franc tends to increase as traders await signals from the Swiss National Bank’s chairman on the monetary policy outlook. The SNB has long favored a dovish stance, viewing the Swiss franc as overvalued. But with inflation now cooling, the backdrop has shifted.
A hawkish tone from Martin Schlegel will likely bolster the currency, while a dovish message and a reaffirmation of the SNB’s preference for policy easing may weigh on the currency.
Price chart of USDX in real time mode
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