Our weekly forex outlook for the week of July 20, 2026 highlights the high-impact economic events and market themes traders should watch. All times are approximate; verify against your broker’s calendar before trading.
Key Economic Events This Week
- CPI m/m (CAD) – 07-20-2026 12:30pm, impact: High, forecast -0.2%, previous 1.0%
- Median CPI y/y (CAD) – 07-20-2026 12:30pm, impact: High, forecast 2.1%, previous 2.1%
- Trimmed CPI y/y (CAD) – 07-20-2026 12:30pm, impact: High, forecast 2.0%, previous 2.0%
- CPI q/q (NZD) – 07-20-2026 10:45pm, impact: High, forecast 1.5%, previous 0.9%
- Claimant Count Change (GBP) – 07-21-2026 6:00am, impact: High, forecast 28.3K, previous 31.2K
- Average Earnings Index 3m/y (GBP) – 07-21-2026 6:00am, impact: Medium, forecast 4.5%, previous 4.4%
- CPI y/y (GBP) – 07-22-2026 6:00am, impact: High, forecast 2.7%, previous 2.8%
- Employment Change (AUD) – 07-23-2026 1:30am, impact: High, forecast 15.2K, previous 40.3K
- Unemployment Rate (AUD) – 07-23-2026 1:30am, impact: High, forecast 4.4%, previous 4.4%
- Main Refinancing Rate (EUR) – 07-23-2026 12:15pm, impact: High, forecast 2.40%, previous 2.40%
- Monetary Policy Statement (EUR) – 07-23-2026 12:15pm, impact: High
- ECB Press Conference (EUR) – 07-23-2026 12:45pm, impact: High
- Unemployment Claims (USD) – 07-23-2026 12:30pm, impact: Medium, forecast 211K, previous 208K
Market News in Focus
- Indian students cool on ’American Dream’ as EU opens its doors
- KKR, AEW seek buyers for China property assets amid market slump – Bloomberg
- US stock futures steady as investors weigh Iran conflict, earnings week
- FDA says Taylor Farms cyclospora finding was a false positive
- SpaceX moves Starship launch attempt to Thursday
- Exclusive-Samsung cuts US jobs, offers relocations ahead of HQ move
Trading Takeaway
High-impact releases can widen spreads and spike volatility. Trade liquid pairs, respect your risk rules, and use a stop-loss on every position. Beginners should practise on a demo account first.
High-impact events (like CPI, NFP, central-bank decisions) move currencies most. They often widen spreads and spike volatility, so traders size positions carefully around them.
Use a stop-loss, avoid over-leverage, and consider waiting for the initial spike to pass. Beginners should practise on a demo account first.
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