High-volatility focus: The main volatility window is concentrated around U.S. CPI, U.S. PPI, U.S. retail sales, UK monthly GDP and trade data, Eurozone inflation, U.S. industrial production and the University of Michigan consumer sentiment release.

Critical for pairs: EUR/USD — U.S. CPI/PPI, Eurozone industrial production and final HICP; GBP/USD — UK GDP/trade and U.S. inflation data; AUD/USD and NZD/USD — U.S. data, China-sensitive risk sentiment and commodity-linked flows; USD/CHF — U.S. inflation data and the SNB monetary policy discussion summary.

• Mon, July 13: USD — Federal budget balance; CNY — China trade and growth expectations remain important for AUD and NZD sentiment.
• Tue, July 14: USD — CPI, Core CPI and Real Earnings; EUR — Eurozone industrial production.
• Wed, July 15: USD — PPI, Core PPI, Empire State Manufacturing Index and Fed Beige Book.
• Thu, July 16: GBP — UK monthly GDP, trade balance, industrial production, manufacturing production and services index; USD — retail sales, jobless claims and business inventories; CHF — SNB summary of monetary policy discussion.
• Fri, July 17: EUR — final Eurozone HICP inflation; USD — housing starts, building permits, import prices, industrial production and University of Michigan consumer sentiment.

USD, EUR, GBP, AUD, NZD, CHF