The macro spotlight is on Frankfurt this week, with the ECB Interest Rate Decision setting the tone for global rate-path direction. A lighter data calendar leaves room for corporate earnings, as Alphabet and Tesla kick off Big Tech reporting on Wednesday after hours. U.K. inflation and a set of preliminary U.S. data round out the week. Here is what's ahead: 🇺🇸 ADP Employment Change Weekly – Tue, Jul 21, 12:15UTC 🇬🇧 UK CPI (YoY) & (MoM) (Jun) – Wed, Jul 22, 06:00UTC 🇺🇸 Alphabet & Tesla Earnings – Wed, Jul 22, After Hours 🇪🇺 ECB Interest Rate Decision & Monetary Policy Statement (Jul) – Thu, Jul 23, 12:15UTC 🇺🇸 Initial Jobless Claims – Thu, Jul 23, 12:30UTC 🇺🇸 S&P Global Manufacturing PMI (July Preliminary) – Fri, Jul 24, 13:45UTC 🇺🇸 S&P Global Services PMI (July Preliminary) – Fri, Jul 24, 13:45UTC(Nexo)