📅 WEEKLY MACRO AND RISK CALENDAR | OCTOBER 19–23, 2026 🎯 Main Theme of the Week The Fed is in a blackout period from October 17–29; no Fed commentary or major U.S. data is expected before the FOMC decision on October 28. In this vacuum, attention shifts to Turkey (TCMB interest rate decision on Thursday), inflation data from Europe and Asia (Canada, UK, Japan), and global preliminary PMIs released on Friday. At week’s end, earnings season for major tech companies will determine market appetite for equities. 🗓 Daily Economic Calendar Monday, October 19 🇨🇳 China Q3 and September activity data | 05:00 🇨🇦 Canada CPI (September) | 15:30 🇺🇸 Earnings season begins; companies including META, TSLA, and NFLX report this week Tuesday, October 20 🇨🇳 China October LPR rate decision | 04:00 🇩🇪 Germany PPI (September) | 09:00 🇬🇧 UK Labour Market Data | 09:00 🇩🇪🇪🇺 ZEW Economic Sentiment Index (October) | 12:00 🇺🇸 Housing Starts and Building Permits (September) | 15:30 Wednesday, October 21 🇯🇵 Japan Trade Balance (September) | 02:50 🇬🇧 UK CPI (September) | 09:00 🇺🇸 No major data released Thursday, October 22 🇰🇷 South Korea Central Bank interest rate decision | 04:00 🇨🇭 SNB September meeting minutes 🇹🇷 TCMB Monetary Policy Committee interest rate decision | 14:00 🇺🇸 Weekly Initial Jobless Claims | 15:30 🇺🇸 Kansas City Fed Manufacturing Survey (October) | 18:00 Friday, October 23 🇯🇵 Japan CPI (September) | 02:30 🇬🇧 UK Retail Sales (September) | 09:00 🇪🇺🇬🇧 Eurozone and UK Preliminary PMIs (October) | ~11:00 🇷🇺 Russia Central Bank interest rate decision 🇺🇸 S&P Global Preliminary Manufacturing and Services PMIs (October) | 16:45 🇺🇸 University of Michigan Consumer Sentiment, Final (October) | 17:00 🇫🇷 Moody’s review of France’s credit rating ⚠️ Crypto Market Impact and Weekly Risk Points With the Fed in blackout, no new official signals on the interest rate path are expected this week. This leaves pricing entirely dependent on data and last week’s CPI/PPI outcomes; in the U.S., only housing data, jobless claims, Friday’s PMIs, and consumer sentiment remain on the radar. The relatively quiet U.S. data calendar suggests crypto volatility may stem more from tech stock sentiment and anticipation of the October 28 FOMC decision. UK CPI (Wednesday) and Japan CPI (Friday) are this week’s key inflation headlines for global rate expectations. Canada’s inflation reading on Monday could set the week’s tone. Inflation above expectations would reinforce hawkish central bank messaging, lifting the dollar and yields while pressuring risk assets; a surprise in Japan could trigger unwinding of yen-funded positions. Thursday at 14:00 is critical for Turkey. The TCMB held its policy rate steady at 37% in its last decision on September 10, emphasizing that tight policy will persist until price stability is achieved. The tone and wording of this week’s decision may briefly impact local crypto trading volumes and TL exchange rates. On Friday, Eurozone and U.S. preliminary PMIs arrive alongside Michigan consumer sentiment. If weak activity coincides with elevated price pressures, stagflation fears could dampen risk appetite. Moody’s review of France’s rating on the same day presents a secondary risk that could trigger sudden moves in European bond markets. Due to thin liquidity over the weekend, Friday evening moves may be exaggerated through Sunday. Weekly Summary: Tuesday–Wednesday bring Europe and Asia inflation data; Thursday features the TCMB decision; Friday delivers global PMIs and France’s credit rating review — while the Fed remains silent until its next decision on October 28. bitcoin:native #gold