The most important events for the economy this week. Here you can read which events in the economic calendar deserve particular attention in your activities on the financial markets. All listed events have the potential to move markets to a greater or lesser extent. The results of each event can be found in the economic calendar.
In addition to the hope for a negotiated peace in the Persian Gulf, this week also brings important macroeconomic data with the potential to move prices across various asset classes.
Tuesday, 21 April 2026
11:00 CET (GMT+2)
ZEW Economic Sentiment | Germany | EUR, Indices
In the previous month, a decline from 58.3 to 39 had been expected for the economic sentiment indicator, but the actual result of -0.5 fell into the category of a “dramatic drop.” For this month, a further decline to -6.7 is expected, which is likely already priced in. However, a worse-than-expected result could still put renewed pressure on the stock market.
14:30 CET (GMT+2)
Retail Sales | USA | USD, Indices
After retail sales showed weak development in 2026 and were even negative in January, they returned to positive territory in February with an increase of 0.6%. For March, a solid rise of 1.4% is expected. However, whether this expectation will hold given rising fuel and energy prices remains to be seen.
Wednesday, 22 April 2026
11:00 CET (GMT+2)
Consumer Price Index (CPI) | United Kingdom | GBP, Indices
The increase in consumer prices in the United Kingdom remains at a high level. After inflation stood at 3% in February, consumer prices are expected to rise to 3.3% in March. The high level of inflation puts the Bank of England in a dilemma, as it limits its ability to take measures to stimulate the weakening economy.
15:30 CET (GMT+2)
US Crude Oil Inventories | USA | Oil prices
Data on current crude oil inventories in the United States are being closely monitored by investors and traders, especially given the renewed uncertainty around the Strait of Hormuz. On the one hand, they provide insight into the potential development of oil prices; on the other hand, they may indicate how oil-dependent sectors of the economy are evolving. Accordingly, higher inventories generally have a negative effect on oil prices, while lower inventories tend to have a positive impact.
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Thursday, 23 April 2026
08:30 CET (GMT+2)
Purchasing Managers’ Indices (PMIs) | Germany | EUR, Indices
In Germany, PMI data for manufacturing and services are expected on Thursday. While the manufacturing PMI recently rose more than expected to 52.2, it is now expected to decline again to 51.3. The services PMI, on the other hand, fell more sharply than expected from 53.5 to 50.9. For this month, a moderate decline to 50.4 is expected, but given the rise in energy prices due to the crisis in the Persian Gulf, the results are being closely watched.
14:30 CET (GMT+2)
Initial Jobless Claims | USA | USD, Indices
Weekly data on initial and continuing jobless claims in the United States are always closely followed. Since the labor market plays an important role in the Federal Reserve’s interest rate decisions, the data may provide clues about the Fed’s future policy direction. Rising claims could fuel expectations of earlier rate cuts, which could support US indices and equities.
15:45 CET (GMT+2)
Purchasing Managers’ Indices (PMIs) | USA | USD, Indices
In the United States, PMI data for manufacturing and services will also be released on Thursday. The services PMI recently fell below the key 50 threshold to 49.8 points. Analysts expect a slight recovery to 50.1 in April, returning it to expansion territory. The manufacturing PMI, on the other hand, remained stable above 50 at 52.3, with a slight increase to 52.5 expected for April.
Friday, 24 April 2026
10:00 CET (GMT+2)
ifo Business Climate Index | Germany | EUR, Indices
Following the ZEW economic sentiment index, a second key indicator of Germany’s economic situation will be released at the end of the week. Given the difficult situation in the energy market, investors are closely monitoring developments in the eurozone’s largest economy, which is particularly affected by rising energy prices. After the indicator last recorded an increase in February, a second consecutive decline to 85.6 is expected for April.
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