Global Weekly Economic Preview: US CPI, ECB decision and China trade data in focus this week

Global markets face a data-heavy week, with US inflation and the ECB policy decision likely to shape monetary-policy expectations. China’s trade and inflation data, Japan’s key economic releases and major European growth indicators will also offer fresh signals on inflation, demand and global economic momentum.

USA: US August CPI and PPI will headline the calendar ahead of the September Fed meeting, with markets closely assessing the inflation trajectory and its implications for rate expectations. Michigan consumer sentiment, inflation expectations, existing home sales, NFIB business confidence, wholesale inventories and the monthly budget statement will provide further insight into household and corporate conditions. Treasury buybacks and inflation data from Canada, Mexico and Brazil will also be in focus.

EUROPE: The ECB’s monetary-policy decision will be the key event, with investors closely scrutinizing its policy guidance for signals on the future rate path. Final Eurozone Q2 GDP and employment data will provide further insight into regional growth, while Germany’s industrial production, inflation and trade figures will be closely watched. The UK will release monthly GDP, industrial production and trade data, while rate decisions in Turkey, Russia and Poland, alongside Sweden’s parliamentary election, will add further market catalysts.

ASIA: China’s August trade and inflation data will take centre stage as investors assess external demand and domestic price pressures amid renewed US tariffs. Japan will release revised Q2 GDP, wages, current-account data and PPI, alongside foreign-exchange reserves, bank lending and machine-tool orders. Taiwan’s trade figures will be monitored for signals on AI and semiconductor demand, while Australia, South Korea, Thailand, Malaysia and the Philippines will provide additional confidence, inflation, GDP and labour-market indicators.

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