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July 17, 2026
Preview: Due July 20 - Canada June CPI - Energy to correct lower but BoC core rates seen mostly stable
July 17, 2026 5:39 PM UTC
We expect June Canadian CPI to correct lower to 3.0% yr/yr from May’s 3.2% which was the highest since December 2023, with a slowing to 2.98% from 3.23% before rounding. The Bank of Canada’s core rates however are likely to remain mostly stable with CPI-Median at 2.1% and CPI-Trim at 2.0%, both
Preview: Due July 30 - U.S. Q2 GDP - Strong domestic demand but weakness in net exports and inventories
July 17, 2026 5:13 PM UTC
We expect a modest Q2 GDP increase of 1.4% annualized, though there is still uncertainty over June data for trade and inventories, which we expect to act as negatives in the quarter as a whole, while assuming some improvement in their June data.
Preview: Due July 30 - U.S. Q2 GDP - Strong domestic demand but weakness in net exports and inventories
July 17, 2026 5:12 PM UTC
We expect a modest Q2 GDP increase of 1.4% annualized, though there is still uncertainty over June data for trade and inventories, which we expect to act as negatives in the quarter as a whole, while assuming some improvement in their June data.
Preview: Due July 28 - U.S. June Advance Goods Trade Balance - Deficit to correct lower, but remain large
July 17, 2026 3:24 PM UTC
We expect an advance June trade deficit of $100.8bn, down from $105.9bn in May which was the widest since a record pre-tariff deficit in March 2025, but still significantly above the deficits seen in the first four months of 2026.
Preview: Due July 27 - U.S. June Durable Goods Orders - Aircraft to bounce, ex transport slower but still firm
July 17, 2026 2:58 PM UTC
We expect a 3.7% increase in June durable goods orders after a 4.5% May decline as aircraft regain strength after a sharp dip in May, with a 0.9% increase ex transport, still firm, but less so than in most recent months.
July 16, 2026
Preview: Due July 30 - U.S. June Personal Income and Spending - PCE Prices not quite as soft as CPI
July 16, 2026 4:22 PM UTC
June’s personal income and spending report may be overshadowed by the Q2 GDP report released at the same time. We expect a subdued 0.1% increase in core PCE prices, with overall PCE prices down by 0.1%, leaving gains of 0.3% in both personal income and personal spending looking respectable in real
Preview: Due July 30 - U.S. June Personal Income and Spending - PCE Prices not quite as soft as CPI
July 16, 2026 4:21 PM UTC
June’s personal income and spending report may be overshadowed by the Q2 GDP report released at the same time. We expect a subdued 0.1% increase in core PCE prices, with overall PCE prices down by 0.1%, leaving gains of 0.3% in both personal income and personal spending looking respectable in real
Preview: Due July 24 - U.S. June New Home Sales - A correction higher though trend has slowed
July 16, 2026 2:49 PM UTC
We expect a June new home sales total of 615k, which would be an increase of 6.0% if May’s 7.3% decline to 580k sees no revisions. This would still sustain step down in trend in 2026 to date, with movements in the preceding two years outside a 650-700k range having tended to be brief.
Preview: Due July 17 - U.S. June Housing Starts and Permits - Multiple starts to bounce, but trend is slowing
July 16, 2026 2:20 PM UTC
We look for June housing starts to bounce by 13.0% to 1.33m to correct a sharp 15.4% plunge seen in May, with most of the move again due to the volatile multiples component. We expect permits to suggest a modestly negative underlying trend, falling by 2.1% to 1.38m.
July 15, 2026
FOMC Preview for July 29: Unchanged policy with an unspoken tightening bias
July 15, 2026 3:52 PM UTC
The FOMC meets on July 29 in a meeting that will see no update to the dots or economic forecasts. With forward guidance now becoming limited all meetings should be seen as live, but after softer than expected June non-farm payroll and more importantly CPI data, a change in policy looks unlikely at t
FOMC Preview for July 29: Unchanged policy with an unspoken tightening bias
July 15, 2026 3:49 PM UTC
The FOMC meets on July 29 in a meeting that will see no update to the dots or economic forecasts. With forward guidance now becoming limited all meetings should be seen as live, but after softer than expected June non-farm payroll and more importantly CPI data, a change in policy looks unlikely at t
Preview: Due July 16 - U.S. June Retail Sales - Softer on gasoline, only modest underlying slowing
July 15, 2026 11:41 AM UTC
We expect June retail sales to fall by 0.2% overall and 0.4% ex autos, though with a 0.2% rise ex auto and gasoline. Even the latter would be the slowest gain since a flat December 2025.
July 14, 2026
FOMC Preview for July 29: Unchanged policy with an unspoken tightening bias
July 14, 2026 5:14 PM UTC
The FOMC meets on July 29 in a meeting that will see no update to the dots or economic forecasts. With forward guidance now becoming limited all meetings should be seen as live, but after softer than expected June non-farm payroll and more importantly CPI data, a change in policy looks unlikely at t
Preview: Due July 31 - U.S. Q2 Employment Cost Index - Losing momentum
July 14, 2026 2:14 PM UTC
We look for the Q2 employment cost index (ECI) to increase by 0.7%, slower than Q1’s 0.9% but matching the Q4 outcome. This would see the yr/yr pace slow to 3.2% from 3.4%, reaching its slowest since Q2 2021.
Preview: Due July 15 - U.S. June PPI - Some fading from recent strength
July 14, 2026 1:53 PM UTC
We expect an unchanged June PPI, a significant slowing from two straight gains of 1.1% as energy corrects from recent strength and other inflationary stimuli from the conflict in the Middle East fade. We expect a 0.4% rise ex food and energy, matching May’s outcome, and also a 0.4% increase ex foo
July 13, 2026
Preview: Due July 14 - U.S. June CPI - Energy to correct lower, World Cup to support core
July 13, 2026 5:47 PM UTC
We expect June CPI to be unchanged overall as energy corrects from three straight strong gains while the core rate ex food and energy sees a slightly firmer 0.3% increase. Before rounding we expect respective outcomes of -0.02% and up 0.26%, with the World Cup having just enough impact to nudge the
July 09, 2026
Preview: Due July 10 - Canada June Employment - World Cup to help sustain May bounce
July 9, 2026 5:59 PM UTC
We expect Canadian employment to increase by 25k in June, extending on a strong 87.8k increase in May with the World Cup likely to provide some support. We expect unemployment to slip to 6.5% from 6.6%, reaching its lowest level since January.
July 08, 2026
Preview: Due July 9 - U.S. June Existing Home Sales - Pending home sales imply a rise
July 8, 2026 5:55 PM UTC
We expect June existing home sales to increase by 1.9% to 4.25m, which would be a third straight increase and the highest level since December 2025. This would be consistent with signals from May pending home sales, but other housing signals are less positive.
Preview: Due July 9 - U.S. June Existing Home Sales - Pending home sales imply a rise
July 8, 2026 11:00 AM UTC
We expect June existing home sales to increase by 1.9% to 4.25m, which would be a third straight increase and the highest level since December 2025. This would be consistent with signals from May pending home sales, but other housing signals are less positive.
July 06, 2026
Preview: Due July 7 - U.S. May Trade Balance - Advance goods data shows deficit up sharply
July 6, 2026 5:52 PM UTC
We expect a May trade deficit of $78.7bn, up from $55.9bn in April and the widest deficit since a pre-tariff record of $133.0bn in March 2025. We expect a 3.4% decline in exports after four straight gains and a 3.1% increase in imports, which would be a fourth straight gain.
Preview: Due July 15 - U.S. June PPI - Some fading from recent strength
July 6, 2026 9:05 AM UTC
We expect an unchanged June PPI, a significant slowing from two straight gains of 1.1% as energy corrects from recent strength and other inflationary stimuli from the conflict in the Middle East fade. We expect a 0.4% rise ex food and energy, matching May’s outcome, and also a 0.4% increase ex foo
July 02, 2026
Preview: Due July 20 - Canada June CPI - Energy to correct lower but BoC core rates seen mostly stable
July 2, 2026 7:58 PM UTC
We expect June Canadian CPI to correct lower to 3.0% yr/yr from May’s 3.2% which was the highest since December 2023, with a slowing to 2.98% from 3.23% before rounding. The Bank of Canada’s core rates however are likely to remain mostly stable with CPI-Median at 2.1% and CPI-Trim at 2.0%, both
Preview: Due July 6 - U.S. June ISM Services - Sustaining a May improvement
July 2, 2026 5:50 PM UTC
We expect an unchanged June ISM services index of 54.5, sustaining a May pick up from April’s 53.6. Gasoline prices moving off their highs and the World Cup may both provide some support, preventing a correction from May’s improvement. May’s bounce may have been assisted by seasonal adjustment