Global markets enter the week on high alert as the countdown to the US–China tariff deadline intensifies, with tensions threatening to escalate if no agreement is reached. Hopes and fears are amplified by the upcoming meeting between Presidents Trump and Putin, aimed at breaking the deadlock in the Ukraine conflict. In the US, all eyes are on a busy run of inflation, retail, and industrial data, alongside the University of Michigan’s consumer sentiment report. The winding down of the Q2 earnings season will also keep traders on their toes.

In Europe, the UK dominates attention with a heavy data calendar covering GDP, labor market trends, manufacturing output, and trade performance. Across the Eurozone, investors will watch closely for fresh signals from German sentiment readings and industrial output reports. Several countries, including Switzerland, Poland, and Russia, will release GDP updates, while Norway’s central bank is expected to keep rates steady following its first cut in years.

Asia’s spotlight falls on China’s industrial production, retail sales, and lending data, offering a fresh gauge of the economy’s momentum. Japan’s GDP update will test recovery hopes, while in Australia, the RBA’s policy decision is likely to shape market sentiment. Rate moves from other Asian central banks, as well as GDP reports from Singapore, Malaysia, and Hong Kong, add to the week’s busy agenda.

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