The Week Ahead: Key Economic Events to Watch for February 23 – 27, 2026

This week, markets will focus on several high-impact economic releases across major economies. Australia’s CPI report will be closely watched for updated inflation signals, with expectations pointing to a slight easing. In the United States, traders will monitor crude oil inventories, where consensus forecasts suggest a draw, as well as unemployment claims, a key gauge of labor market stability.

Canada’s monthly GDP data will provide insight into economic growth momentum. US producer price data (PPI) will also attract attention for indications of inflation at the wholesale level.

Investors will additionally follow earnings from HP Inc., NVIDIA, and Dell Technologies, which could shape market sentiment.

High Impact Economic Events

Wednesday 02:30 am (GMT+2) – Australia: CPI y/y (AUD)
Wednesday 17:30 (GMT+2) – USA: Crude Oil Inventories (USD)
Thursday 15:30 (GMT+2) – USA: Unemployment Claims (USD)
Friday 15:30 am (GMT+2) – Canada: GDP m/m (CAD)
Friday 15:30 am (GMT+2) – USA: PPI m/m (USD)

Wednesday, February 25

02:30 am -Australia: CPI y/y (AUD)

The Consumer Price Index (CPI) indicator is a key measure of inflation, tracking changes in the prices of goods and services across various categories of household expenditures. This data provides insight into consumer price trends, helping assess the cost of living and inflationary pressures. The CPI is used by policymakers, including central banks, to guide decisions on monetary policy, such as interest rates, and by businesses to adjust pricing strategies and contracts linked to inflation.

In December, annual inflation rose, with CPI increasing 3.8% year-on-year, up from 3.4% in November. Underlying inflation edged higher as the trimmed mean reached 3.3%. Housing, food, and recreation were the main drivers. Monthly CPI rose 1.0% in original terms and 0.2% seasonally adjusted. Services inflation strengthened, while goods inflation also ticked up. Electricity prices remained a key contributor, largely reflecting rebate effects. Rents showed mild easing, while holiday travel and selected food categories recorded notable price increases.

Economists expect CPI inflation to ease slightly to 3.7% year-on-year in the next release.

17:30 – USA: Crude Oil Inventories (USD)

The Crude Oil Stocks Change Indicator is published weekly by the Energy Information Administration (EIA). It gauges the volume (barrels) of commercial crude oil held by US companies, influencing global oil prices. Increasing stocks signal reduced oil demand, potentially leading to a decline in oil barrel prices.

Refinery activity strengthened last week, with crude inputs rising to 16.1 million barrels per day and utilization holding at a solid 91%. Fuel production increased, as gasoline output reached 9.4 million barrels per day and distillate production edged up to 4.9 million barrels per day.

Crude imports declined to 6.5 million barrels per day, while commercial crude inventories posted a sharp 9.0 million barrel draw, leaving stocks 5% below the five-year average. Gasoline and distillate inventories also fell, whereas propane inventories remain well above seasonal norms.

Demand indicators stayed firm, with total products supplied running over 4% higher than last year, led by gains in gasoline and distillates.

Economists expect crude oil inventories to decline by 3.0 million barrels.

Thursday, February 26

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.

In the week ending February 14, initial jobless claims fell to 206,000, a decrease of 23,000 from the previous week’s revised level, signaling a moderation in new layoffs. The four-week moving average edged lower, indicating broadly stable labor market conditions.

The insured unemployment rate remained unchanged at 1.2%, while continuing claims rose modestly to 1.869 million. Overall, the data suggests the labor market remains relatively resilient, with no clear signs of accelerating weakness.

Economists anticipate 216,000 new claims.

Friday, February 27

15:30 – Canada: GDP m/m (CAD)

Gross Domestic Product (GDP) is a key measure of the economic output of a country or region. It represents the total value of goods and services produced, minus intermediate consumption like raw materials or components. GDP can be calculated using methods such as the value-added approach, which looks at the contribution of each sector to the economy. When GDP grows, it indicates economic expansion, while a slowdown or negative GDP may signal a recession. It’s used as a benchmark for the overall health of an economy.

In November, real gross domestic product (GDP) was essentially unchanged, following a 0.3% decline in October, as weakness in goods-producing industries offset modest gains in services. Goods-producing sectors fell 0.3%, reflecting contractions in manufacturing and agriculture-related industries. Meanwhile, services-producing industries edged up 0.1%, supported by growth in retail trade, educational services, and transportation and warehousing. Overall, half of all industrial sectors expanded during the month, highlighting mixed economic performance.

Analysts expect an increase of 0.1%.

15:30 – USA: PPI m/m (USD)

The Producer Price Index (PPI) measures the average change in prices received by producers for goods, services, and construction. The PPI covers a broad range of industries and is used alongside other economic indicators like the Consumer Price Index (CPI), which measures price changes from the buyer’s perspective. Growth in the index can have a positive effect on dollar quotes.

Producer prices rose in December, with the Producer Price Index (PPI) for final demand increasing 0.5% on a seasonally adjusted basis, marking a stronger monthly gain compared with prior months. On an annual basis, final demand prices advanced 3.0% in 2025, moderating from the 3.5% rise recorded in 2024.

The monthly increase was driven entirely by a 0.7% rise in final demand services, while prices for final demand goods were unchanged. Core producer prices, which exclude foods, energy, and trade services, climbed 0.4% in December, extending a sustained upward trend.

Market expectations point to a 0.3% increase in the next PPI report.

Company Earnings (February 23– 27)

Tuesday, February 24: HPQ (HP Inc.)
Wednesday, February 25: NVDA (NVIDIA Corporation)
Thursday, February 26: DELL (Dell Technologies Inc.)

Conclusion

Overall, the week presents several potential volatility catalysts as markets digest fresh inflation, growth, energy, and labor market data. Australia’s CPI, US inventory figures, unemployment claims, and producer prices, alongside Canada’s GDP release, may shape near-term expectations for monetary policy and economic momentum. In parallel, earnings from major technology names could influence broader risk sentiment. Traders should remain attentive to shifts in macro narratives and cross-asset reactions as these events unfold.