What’s Ahead: Weekly Macroeconomic Calendar for August 4–August 8, 2025

The upcoming week’s macroeconomic calendar is less saturated than the previous one, potentially shifting market attention from fundamental drivers to the technical picture. That being said, the Bank of England’s interest rate decision—expected to result in a rate cut—will dominate focus. Aside from that, key business activity data from the United States and the Eurozone are scheduled, which may influence sentiment in major currency pairs.

Monday, August 4

United States:
● 2:00 p.m. GMT: Industrial Orders (Month-over-Month) (June). Forecast: -4.9% / Previous: 8.2%. A sharp forecasted decline following strong prior growth could indicate a slowdown in manufacturing activity.

Tuesday, August 5

Eurozone:
● 8:00 a.m. GMT: Services PMI (July). Forecast: 51.2 / Previous: 51.2. The PMI is expected to remain unchanged, signaling stability in the services sector.

United Kingdom:
● 8:30 a.m. GMT: Services PMI (July). Forecast: 51.2 / Previous: 51.2. An unchanged forecast may point to steady conditions in the UK’s services sector.

United States:
● 1:45 p.m. GMT: Services PMI (July). Forecast: 55.2 / Previous: 55.2. The strong PMI reading is projected to hold, indicating continued strength in services activity.
● 2:00 p.m. GMT: ISM Non-Manufacturing PMI (July). Forecast: 51.5 / Previous: 50.8. An anticipated rise could signal accelerating growth in the non-manufacturing sector.

Wednesday, August 6

United Kingdom:
● 8:30 a.m. GMT: Construction PMI (July). Forecast: 49.2 / Previous: 48.8. A modest increase is expected, though the sub-50 reading still reflects contraction at a slower pace.

United States:
● 2:30 p.m. GMT: Crude Oil Inventories. Previous: 7.698M. The release could affect oil market volatility.

Thursday, August 7

Australia:
● 1:30 a.m. GMT: Trade Balance (June). Forecast: 3.250B / Previous: 2.238B. An expected rise could provide support to the Australian dollar.

Germany:
● 6:00 a.m. GMT: Trade Balance (June). Forecast: 18.3B / Previous: 18.4B. A slight decline is forecast, suggesting stable export performance.

United Kingdom:
● 11:00 a.m. GMT: Interest Rate Decision (August). Forecast: 4.00% / Previous: 4.25%. A rate cut by the Bank of England is widely anticipated and will likely be the most market-moving event of the week for the pound.
● 11:30 a.m. GMT: Bank of England Inflation Letter. The central bank’s commentary on inflation will be closely scrutinized following the rate decision.

Canada:
● 2:00 p.m. GMT: Ivey PMI (July). Forecast: 55.2 / Previous: 53.3. A projected rise would be a positive signal for Canadian economic activity.

Japan:
● 11:30 p.m. GMT: Household Spending (Year-over-Year) (June). Forecast: 2.8% / Previous: 4.7%. A sharp slowdown in spending growth could pressure the yen.
● 11:50 p.m. GMT: Current Account (SA). Forecast: 2.76T / Previous: 2.82T. A minor decline is anticipated, signaling a slight weakening in external balances.

Friday, August 8

Canada:
● 12:30 p.m. GMT: Unemployment Rate (July). Forecast: 7.0% / Previous: 6.9%. An expected increase could weigh on the Canadian dollar.

Tips for Traders

● The key event of the week will be the Bank of England interest rate decision on Thursday. A rate cut is expected, which could cause sharp volatility in the GBP. Make sure to factor this in when trading.
● Also worth keeping a close eye on PMI data from the US and the Eurozone on Tuesday and Thursday, which will give an idea of the economic sentiments.
● Pay attention to the AUD and CAD amid the trade and unemployment data.
● Be especially careful on Thursday, as it will be the busiest day of the week.

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