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Weekly Macro Calendar: FOMC Minutes, U.S. GDP & PCE, Global PMI Wave

Full weekly macro calendar: market holidays, CPI releases, FOMC minutes, PMIs, China’s LPR, and Friday’s U.S. GDP and PCE.

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Olivia Carter Olivia Carter
weekly macro calendar
Photo: finmire.com

From an editorial perspective, this week’s macro calendar carries unusual weight. With U.S. markets closed at the start and a heavy concentration of data toward the end, investors will be navigating shifting liquidity conditions before facing a decisive batch of releases — including FOMC minutes, global PMIs and preliminary U.S. GDP. The timing, as historical cycles often show, may prove just as important as the numbers themselves.

Sunday, Feb. 15

  • 6:50 PM — Japan: GDP (Q4 2025)

Monday, Feb. 16

  • Markets: U.S. — no trading (Washington’s Birthday)
  • Markets: Canada — no trading (Family Day)
  • Markets: China — no trading (Chinese New Year)
  • 5:00 AM — Eurozone: Industrial Production (Dec.)
  • 8:30 AM — Canada: CPI (Jan.)
  • Russia: Russian Business Week (Feb. 16–20)

Tuesday, Feb. 17

  • Ukraine: Trilateral talks in Geneva (Feb. 17–18)
  • Markets: China — no trading (Chinese New Year)
  • 8:15 AM — U.S.: ADP Employment (weekly)
  • 8:30 AM — Canada: CPI (Jan.)
  • 8:30 AM — U.S.: NY Empire State Manufacturing Index (Feb.)
  • Russia: Russian Business Week (Feb. 16–20)

Wednesday, Feb. 18

  • 8:00 PM (Tue) — New Zealand: Central bank rate decision
  • 2:00 AM — UK: CPI (Jan.)
  • Markets: China — no trading (Chinese New Year)
  • Markets: Brazil — no trading (Ash Wednesday)
  • 8:30 AM — U.S.: Durable Goods Orders (Dec.)
  • 8:30 AM — U.S.: Housing Starts (Jan.)
  • 9:15 AM — U.S.: Industrial Production (Jan.)
  • 11:00 AM — Russia: CPI (weekly)
  • 2:00 PM — U.S.: FOMC minutes (previous meeting)
  • 4:30 PM — U.S. Oil: API crude inventories
  • Ukraine: Trilateral talks in Geneva (Feb. 17–18)
  • Russia: Russian Business Week (Feb. 16–20)

Thursday, Feb. 19

  • Markets: China — no trading (Chinese New Year)
  • 4:00 AM — Eurozone: Current Account (Dec.)
  • 8:30 AM — U.S.: Initial Jobless Claims
  • 8:30 AM — U.S.: Philadelphia Fed Manufacturing Index (Feb.)
  • 8:30 AM — U.S.: Trade Balance (Dec.)
  • 10:00 AM — U.S.: Pending Home Sales (Jan.)
  • 10:00 AM — U.S.: Leading Economic Index (Jan.)
  • 10:30 AM — U.S. Gas: EIA natural gas inventories
  • 12:00 PM — U.S. Oil: EIA crude inventories
  • 5:00 PM — Australia: Manufacturing/Services/Composite PMI (Feb., prelim) (moved from Friday after ET conversion)
  • 7:30 PM — Japan: Manufacturing/Services/Composite PMI (Feb., prelim) (moved from Friday after ET conversion)
  • 8:15 PM — China: LPR (Loan Prime Rate) (moved from Friday after ET conversion)
  • Russia: Russian Business Week (Feb. 16–20)

Friday, Feb. 20

  • Potential headline risk: U.S. court may rule on legality of Trump tariffs
  • Markets: China — no trading (Chinese New Year)
  • 12:00 AM — India: Manufacturing/Services/Composite PMI (Feb., prelim)
  • 3:30 AM — Germany: Manufacturing/Services/Composite PMI (Feb., prelim)
  • 4:00 AM — Eurozone: Manufacturing/Services/Composite PMI (Feb., prelim)
  • 4:30 AM — UK: Manufacturing/Services/Composite PMI (Feb., prelim)
  • 8:30 AM — U.S.: GDP (Q4 2025, prelim)
  • 8:30 AM — U.S.: PCE Price Index (Nov.)
  • 9:45 AM — U.S.: S&P Manufacturing/Services/Composite PMI (Feb., prelim)
  • 10:00 AM — U.S.: New Home Sales (Dec.)
  • 10:00 AM — U.S.: Michigan Consumer Sentiment (Feb.)
  • 10:00 AM — U.S.: Consumer Inflation Expectations (Feb.)
  • Russia: Russian Business Week (Feb. 16–20)

What markets will likely focus on: the midweek FOMC minutes for rate-path nuance, and Friday’s combo of U.S. GDP + PCE + PMI + Michigan for a cleaner read on growth vs. inflation momentum. The global PMI wave (Asia → Europe → U.S.) also matters for risk sentiment into the weekend.

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