The Week Ahead: Key Economic Events to Watch for November 24 – 28, 2025

A busy week lies ahead for global markets, with several key economic releases and central bank decisions likely to drive volatility across major currencies. In the US, traders will focus on inflation and consumer activity data, including the Producer Price Index (PPI), Retail Sales, Core PCE Price Index, and Unemployment Claims. From the Asia-Pacific region, Australia’s CPI and New Zealand’s interest rate decision will offer fresh insight into regional inflation and monetary policy trends. Canada’s GDP report will wrap up the week, providing an update on the country’s economic momentum.

Earnings reports from major companies such as Alibaba (BABA) and HP Inc. (HPQ) will also attract investor attention amid shifting global growth expectations.

High Impact Economic Events

Tuesday 15:30 (GMT+2) – USA: PPI m/m (USD)

Tuesday 15:30 (GMT+2) – USA: Retail Sales m/m (USD)

Wednesday 02:30 am (GMT+2) – Australia: CPI y/y (AUD)

Wednesday 03:00 am (GMT+2) – New Zealand: Official Cash Rate (NZD)

Wednesday 15:30 (GMT+2) – USA: Unemployment Claims (USD)

Wednesday 15:30 (GMT+2) – USA: Core PCE Price Index m/m (USD)

Friday 15:30 (GMT+2) – Canada: GDP m/m (CAD)

Tuesday, November 25

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.

In August, U.S. producer prices slipped slightly by 0.1%, following gains in July and June. The drop was mainly driven by lower service costs, which fell 0.2%, while prices for goods edged up 0.1%. Over the past year, producer prices increased 2.6%. Excluding food, energy, and trade services, prices rose 0.3% in August and 2.8% over the past 12 months — the biggest yearly increase since March 2025.

Analysts expect the next PPI report to show a 0.3 percent increase.

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.

In August 2025, US retail and food services sales rose 0.6% from the previous month to $732 billion and were 5.0% higher than a year earlier. Sales for the June–August period were up 4.5% from the same time last year. Retail trade sales increased 0.6% from July and 4.8% from a year ago. Online retailers saw strong growth, up 10.1% year over year, while restaurants and bars posted a 6.5% annual increase.

Economists expect retail sales to rise by 0.4%.

Wednesday, November 26

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 September, Australia’s inflation picked up, with consumer prices rising 3.5% over the past year, up from 3.0% in August. Excluding volatile items like fuel, fruit, vegetables, and holiday travel, prices climbed 3.7% annually, compared with 3.4% in August. The trimmed mean measure of underlying inflation — which smooths out temporary price swings and excludes the recent jump in electricity prices — increased to 2.8% from 2.6% a month earlier.

03:00 am – New Zealand: Official Cash Rate (NZD)

The Reserve Bank of New Zealand (RBNZ) reviews its interest rate policy every six weeks, setting the rate at which loans are provided to commercial banks. This rate is a key instrument of the RBNZ’s monetary policy, aimed at managing the strength of the New Zealand dollar (NZD). A rate increase typically strengthens the NZD by attracting foreign capital and boosting demand for the currency. Consequently, market participants closely monitor changes in the interest rate to determine their potential impact on NZD performance.

New Zealand’s inflation is near the top of the 1–3% target range but is expected to ease to around 2% by mid-2026. Economic growth stayed weak through mid-2025, with slow investment and flat house prices, though lower interest rates are boosting household spending. The Reserve Bank cut the Official Cash Rate by 50 basis points to 2.5% and signaled it may lower rates further if needed to keep inflation near its 2% target.

Economists expect a 25-basis-point rate cut.

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. However, because these are weekly administrative data, they can be volatile and challenging to adjust seasonally.

In the week ending November 15, new US jobless claims fell by 8,000 to 220,000, showing a slight improvement in the labor market. The four-week average also dipped to 224,250. However, continuing unemployment claims rose by 28,000 to 1.97 million — the highest level since late 2021 — while the insured jobless rate held steady at 1.3%.

15:30 – USA: Core PCE Price Index m/m (USD)

Personal Consumption Expenditures (PCE) measure the value of goods and services consumed by individuals and households. It’s a key indicator of consumer spending, which accounts for a large portion of economic activity in the US. The PCE is often used to track inflation trends, as it includes data on prices paid by consumers. The Federal Reserve uses the PCE price index as its preferred measure of inflation to guide monetary policy decisions, aiming to maintain price stability in the economy.

In August, Americans’ personal income rose 0.4%, or about $96 billion, while after-tax income (disposable income) also grew 0.4%. Consumer spending increased further, up 0.6%, indicating that households continued to spend despite higher prices. Excluding food and energy, the PCE price index increased 0.2 percent.

Friday, November 28

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 August, Canada’s economy shrank 0.3%, reversing most of July’s growth. Output from goods-producing industries fell 0.6%, marking their fifth decline this year, while service industries slipped 0.1% — their first drop in six months — mainly due to weakness in transportation, warehousing, and wholesale trade.

Analysts expect an increase of 0.2%.

Company Earnings (November 24 – 28)

Tuesday, November 25: BABA (Alibaba Group Holding Limited)

Tuesday, November 25: HPQ (HP Inc )

Conclusion

This week’s lineup of major economic data and central bank decisions is likely to set the tone for global markets. With inflation, consumer spending, and growth figures due from key economies, traders will be watching closely for signs of policy shifts and changes in economic momentum. Volatility across currencies and commodities may rise as investors react to these high-impact releases and company earnings reports from giants like Alibaba and HP.