The Week Ahead: Key Economic Events to Watch for April 20- 24, 2026

Overview

A busy week lies ahead for the markets, with several high-impact economic releases and major company earnings set to drive volatility across currencies, equities, and commodities. Investors will be closely watching inflation data from Canada, New Zealand, and the UK, along with key PMI readings from Germany and the UK, US retail sales, and weekly jobless claims. At the same time, earnings reports from major companies including Tesla, Intel, American Express, and GE Aerospace could add another layer of market-moving momentum.

High Impact Economic Events

Monday 15:30 (GMT+3) – Canada: CPI m/m (CAD)

Tuesday 01:45 am (GMT+3) – New Zealand: CPI q/q (NZD)

Tuesday 15:30 (GMT+3) – USA: Retail Sales m/m (USD)

Wednesday 09:00 am (GMT3) – UK: CPI y/y (GBP)

Thursday 10:30 am (GMT+3) – Germany: Flash Manufacturing PMI (EUR)

Thursday 10:30 am (GMT+3) – Germany: Flash Services PMI (EUR)

Thursday 11:30 am (GMT+3) – UK: Flash Manufacturing PMI (GBP)

Thursday 11:30 am (GMT+3) – UK: Flash Services PMI (GBP)

Thursday 15:30 (GMT+3) – USA: Unemployment Claims (USD)

Friday 09:00 am (GMT+3) – UK: Retail Sales m/m (GBP)

Monday, April 20

15:30 – Canada: CPI m/m (CAD)

The Consumer Price Index (CPI) is a key measure of inflation, tracking changes in the prices of a fixed basket of goods and services over time. It covers eight major categories: food, shelter, household operations, clothing, transportation, health and personal care, recreation and education, and alcohol and tobacco.

Inflation cooled to 1.8% in February, down from 2.3% in January. A big part of the slowdown came from a base effect linked to the end of the GST/HST break in February last year, which had pushed prices higher at the time, especially for restaurant food. Lower prices for gasoline, natural gas, some housing-related costs, and travel tours also helped ease overall inflation. Excluding indirect taxes, CPI rose 1.9% from a year earlier. On a monthly basis, prices were up 0.5%, or 0.1% after seasonal adjustment.

Economists expect the next CPI report to show prices rising 1.1% from the previous month.

Tuesday, April 21

01:45 am – New Zealand: CPI q/q (NZD)

The consumer price index (CPI) measures the rate of price change of goods and services purchased by New Zealand households.

Consumer prices rose 0.6% in the December 2025 quarter. The biggest increases came from international air travel, petrol, and telecommunication services. These rises were partly offset by a sharp drop in vegetable prices, along with lower pharmaceutical prices.

Analysts expect the upcoming quarterly CPI report to show prices rising 0.8% from the previous quarter.

15:30 – USA: Retail Sales m/m (USD)

The Retail Sales m/m reflects the change in US retail sales from one month to the next. This indicator is used to assess inflation, and an increase in retail sales can positively influence the value of the US dollar.

US retail and food service sales rose 0.6% in February, showing consumers spent a bit more than in January. Compared with a year earlier, sales were up 3.7%, while total sales over the past three months were 3.1% higher than the same period last year. Online retailers saw especially strong growth, and spending at restaurants and bars also increased solidly. January’s decline was also revised to show a slightly smaller drop than first reported.

Economists expect monthly retail sales to rise 1.4% in the next release.

Wednesday, April 22

09:00 am – UK: CPI y/y (GBP)

The most common method for assessing inflation is the annual inflation rate, which looks at price changes over a 12-month period by comparing the current month’s prices with those from the same month the previous year. CPIH is the most comprehensive inflation measure, including the Consumer Prices Index (CPI) plus owner occupiers’ housing costs (OOH) and Council Tax.

UK inflation was unchanged in February. CPI stayed at 3.0% a year earlier, while CPIH, which also includes owner occupiers’ housing costs, remained at 3.2%. On a monthly basis, both measures rose 0.4%, the same pace as in February last year. The main difference between the two is that CPIH includes housing-related costs, making it the broader measure of inflation.

Economists expect a figure of 3.3% in the upcoming release.

Thursday, April 23

10:30 am – Germany: Flash Manufacturing PMI (EUR)

The Manufacturing Purchasing Managers’ Index (PMI) is an economic indicator that reflects the performance of the manufacturing sector. It is based on surveys of purchasing managers across key areas such as new orders, production, employment, supplier deliveries, and inventory levels. A PMI reading above 50 indicates expansion in the manufacturing sector, while a reading below 50 signals contraction. The Manufacturing PMI is widely used to gauge the overall health of the manufacturing economy and to anticipate economic trends, influencing business decisions and policymaking.

Germany’s manufacturing PMI rose to 52.2 in March from 50.9 in February, showing the sector improved. Output and new orders increased, but rising costs and supply delays linked to the Middle East war weakened business confidence.

Economists expect a growth reading of 51.3 in the next release.

10:30 am – Germany: Flash Services PMI (EUR)

The Services Purchasing Managers’ Index (PMI) is an economic indicator that measures the performance of the services sector. It is based on surveys of business executives in industries such as finance, healthcare, retail, and other service-oriented areas. The index reflects changes in key variables such as new business, employment, prices, and output. A PMI reading above 50 indicates expansion in the services sector, while a reading below 50 signals contraction. It is a critical gauge for assessing economic health and guiding monetary policy decisions.

Germany’s services PMI fell to 50.9 in March from 53.5 in February, showing growth slowed sharply. Demand weakened, new business declined, and rising costs linked to the Middle East war added pressure.

Economists expect the upcoming release to show Germany’s services PMI slowing to 50.4.

11:30 am – UK: Flash Manufacturing PMI (GBP)

UK manufacturing PMI slipped to 51.0 in March from 51.7 in February. Even though the PMI stayed above 50, factory output fell for the first time in six months, while rising input costs and supply chain delays added pressure.

Economists expect the UK manufacturing PMI to slow to 50.2 in the next release.

11:30 am – UK: Flash Services PMI (GBP)

UK services PMI fell to 50.5 in March from 53.9 in February, showing growth slowed sharply and was the weakest in nearly a year. New business declined as worries about the Middle East war hurt spending and delayed decisions, while higher fuel and transport costs pushed business expenses up. Confidence also dropped to its lowest level in nine months.

Economists expect the UK services PMI to slow to 50.0 in the next release.

15:30 – USA: Unemployment Claims (USD)

An initial claim is filed by an unemployed individual seeking eligibility for unemployment insurance after leaving a job. This count serves as a leading economic indicator, reflecting labor market conditions.

New US jobless claims fell to 207,000 in the week ending April 11, down by 11,000 from the previous week, suggesting layoffs remained low. The insured unemployment rate stayed unchanged at 1.2%, while the number of people continuing to receive benefits rose to 1.818 million. Overall, the figures point to a labor market that is still relatively stable.

Economists expect initial jobless claims to come in at 210,000 in the upcoming report.

Friday, April 24

09:00 am – UK: Retail Sales m/m (GBP)

Retail Sales m/mshow the changes in the value of retail goods sold in the UK for the given month compared to the previous month. The calculation uses season-adjusted data from British retailers.

The indicator is used in forecasting, budgeting, and developing UK financial and economic policy. Retail sales growth can positively affect British pound quotes.

Retail sales were mixed in early 2026. Over the three months to February, the amount of goods bought rose 0.7%, helped by stronger online sales and a jump in artwork sales in January. But in February alone, retail sales volumes fell 0.4% after a strong 2.0% rise in January, as supermarket and online sales pulled back, partly because shoppers appear to have brought forward purchases to January to take advantage of discounts.

Analysts expect UK retail sales to rise by 0.1% month on month in the next release.

Company Earnings (April 20 – 24)

Tuesday, April 21: GE (GE Aerospace)

Wednesday, April 22: TSLA (Tesla, Inc.)

Wednesday, April 22: T (AT&T Inc.)

Thursday, April 23: INTC (Intel Corporation)

Thursday, April 23: AXP (American Express Company)

Thursday, April 23: BX (Blackstone Inc.)

Conclusion

Overall, the week is packed with important data that could shape market sentiment across major currencies and asset classes. Inflation figures, PMI surveys, retail sales, and labor market data will offer fresh clues on the strength of global economic activity, while major earnings reports may drive stock-specific volatility. Traders and investors should stay alert, as these releases could set the tone for market direction in the days ahead.