... inflation decreased to ~3% (core ~3.5%). The European Central Bank maintained its rate on July 24 and indicated that the tightening cycle may soon conclude. The ECB's softened rhetoric has led to a slight dip in bond yields and a strengthening of the euro. The DAX, CAC40, and FTSE100 indices gained slightly over the week – the easing of tariff risks has offset the impact of high rates and weak external demand. Asia: Stimulus in China and Sustained Growth in India Asian markets are showing mixed ...

... depreciation in early August. Experts note that the exchange rate of the Russian currency is likely to remain relatively stable in the near term. Specifically, several analysts estimate that the U.S. dollar may trade around 78–82 rubles per $1, while the euro may fluctuate within a range of 92–97 rubles per €1. Negative factors for the ruble include seasonal increases in demand for foreign currency (for instance, during summer vacations, currency purchases by the public rise) and ongoing geopolitical ...

... largest economy. 12:00 (Eurozone): Preliminary GDP estimates for Q2 for France, Germany, Italy, and the Eurozone as a whole. Weak growth or stagnation will reaffirm cautious projections for Europe, while unexpectedly strong numbers will support the euro. 15:15 (USA): ADP employment report in the private sector (July). A preliminary signal before the official labor market data on Friday. 15:30 (USA): U.S. GDP for Q2 (preliminary estimate). A return to growth is expected after the decline in Q1; actual ...

... heighten concerns of stagnation in Europe's largest economy, especially if current situation assessments and expectations worsen. Conversely, an unexpected increase in the index could provide a positive surprise for markets, potentially bolstering the euro and European company stocks. 13:30 MSK – Central Bank of Russia's decision on the key interest rate. The day's main intrigue for the Russian market. Following an unexpected 100 bps cut in June (to 20% per annum), most analysts anticipate another ...

... particularly crucial after the implementation of new tariffs. 09:00 (Germany): Industrial Production for June. The output indicator from Germany's factories and plants; a decline in production may raise recession fears in the EU, while growth will support the euro. 11:00 (Eurozone): ECB Economic Bulletin. The regulator will publish a detailed overview of the economic situation and inflation trends in the region, clarifying the ECB's rationale after its last meeting. 14:00 (UK): Bank of England's interest rate ...