The Global Week Ahead

Mar 23

U.S.-Led Ukraine Peace Talks Resume in Saudi Arabia, Trump Officials to Make A “Private Visit” to Greenland, Canda’s Carney Calls Snap Elections, China Hosts Two Major Economic Forums, and It Is A Heavy Week of Economic Reports

March 23 - 30, 2025

Spring is in the air in the Northern Hemisphere after a pretty rough winter. And with it comes a significant uptick of diplomatic activity globally. This coming week, U.S. diplomats will again travel to Ryad, Saudi Arabia for talks with Russian counterparts in a bid to reach an agreement on a ceasefire in Ukraine. As we reported last week, Russian President Vladimir Putin seemed to make some positive remarks toward reaching a deal but then reiterated a host of unpalatable demands on the US, NATO, and Ukraine – including removing NATO forces from Eastern European NATO member states and no NATO membership for Ukraine. This was followed by some of the most intensive missile and drone strikes on Ukrainian civilian targets since the war began.

One aspect of the talks will focus on how to make shipping safer in the Black Sea as a means to reaching a cease-fire. We continue to pessimistic Putin – who is celebrating his 25th year in power this week – will relent and agree on any peace deal.

Also this week, U.S. National Security Advisor Mike Walz and 2nd Lady Usha Vance are scheduled to make a “private visit” to Greenland as the newly elected government there begins forming. What exactly they are doing – and why the 2nd Lady is involved – remains a mystery at this time of writing.

Meanwhile, newly chosen Canadian Prime Minister Mark Carney has called for snap elections on April 28. Carney said he needs a strong mandate to deal with President Trump, saying Trump “wants to break us so America can own us.” Carney went on to say Canada is facing “the most significant crisis of our lifetimes because of President Trump’s unjustified trade actions and his threats to our sovereignty.” Oddly, this comes as President Trump claimed British King Charles II secretly offered – and Trump indicated he was interested in pursuing –the U.S. to become an associate member of the British Commonwealth. The Commonwealth, which was created in 1926, is made up of 56 countries – including Canada – which were originally British colonies.

China will be holding two major economic forums this week which are likely to give investors greater insight into the state of China’s economy and what new steps Beijing may take to try to further bolster the economy. The first is the China Development Forum (CDF) and the second is the Boao Forum for Asia (BFA) which is commonly referred to as the “Davos of Asia.” The CDF comes as foreign investment in China has been rapidly shrinking. Major US and European CEOs are scheduled to attend and are expected to meet with President Xi Jinping.

Looking at the global economic radar screen this week, it is going to be a big week with lots of new data coming out globally. Inflation indicators are going to be released in the US, Japan, and Europe.

Looking first at the US, the February PCE and personal income and spending data are due out on Friday as well as the Conference Board’s Consumer Confidence Index on Tuesday. The Conference Board’s report will be closely looked at by investors following the University of Michigan’s economic reports last week which showed consumer sentiment had sunk to its lowest level since 2022.

Additionally, as the U.S. Congress struggles to hammer out a tax and budget deal via a giant Reconciliation package, the Congressional Budget Office is publishing its federal debt outlook on Wednesday and the statutory limit report on Thursday, putting more pressure on how far Congress can go cutting taxes and dealing more aggressively with the deficit.

Turning to Europe, the UK releases CPI and RPI data on Wednesday while the Eurozone March flash CPIs are out on Friday. Germany releases the Ifo survey on Tuesday and we will see consumer sentiment numbers from Germany, Italy, and France this week, too.

In Asia, the Central Bank of Japan releases recent meeting minutes as the Tokyo CPI is out Friday. Australia releases its budget this week, too. And in China, the 1-year MLF rate is set on Tuesday while we will see industrial profit reports on Thursday.

Below are the rest of the major geopolitical and geoeconomic events we will be watching in the coming week:

Sunday, March 23, 2025

Global

· Nothing significant to report.

Americas

Political/Social Events –

· Canadian Prime Minister Mark Carney will call for snap elections for April 28. Carney is citing “the most significant crisis of our lifetime” caused by President Trump and the tariffs he has placed on the country.

· Argentine President Javier Milei will meet with Israeli Prime Minister Benjamin Netanyahu in Tel Aviv, Israel.

Economic Reports/Events –

· Nothing significant to report.

Asia

Political/Social Events –

· Singapore President Tharman Shanmugaratnam and First Lady Jane Yumiko Ittogi begin a state visit to Belgium and Luxembourg.

· Pakistan celebrates Republic Day. The government will hold large military parades showing a wide array of weapons, including nuclear-capable weapons systems.

Economic Reports/Events –

· Nothing significant to report.

Europe

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Romania Presidential Election (1st Round)

Middle East

Political/Social Events –

· EU foreign policy chief Kaja Kallas will visit Cairo, Egypt to discuss the situation in Gaza.

· Turkey's main opposition party, the Republican People's Party, will hold presidential primaries ahead of Turkey's 2028 presidential election.

Economic Reports/Events –

· Israel Manufacturing Production (January)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Monday, March 24, 2025

Global

· US-Ukraine talks on establishing a cease-fire take place in Saudi Arabia through March 24. Negotiators are expected to discuss how to ensure safer shipping in the Black Sea as part of the talks

· The UN Security Council is scheduled to hold an open debate on the maintenance of international peace and security: Advancing adaptability in UN Peace Operations – Responding to new realities. The Secretary-General will deliver remarks.

· At the United Nations, Filippo Grandi, United Nations High Commissioner for Refugees, Ms. Amy Pope, International Organization for Migration Director General, and a representative of the Bangladesh Government, will launch the 2025-26 Joint Response Plan (JRP) for the Rohingya Humanitarian Crisis in Bangladesh. The first-ever multi-year funding appeal for the Rohingya Response in Bangladesh brings together 113 partners, including Bangladeshi organizations, to reach some 1.48 million people including Rohingya refugees and host communities in its first year.

· The 1st meeting of BRICS Senior Energy Officials Committee meets in Brazil.

Americas

Political/Social Events –

· Israeli officials are expected to travel to Washington to discuss Iran’s nuclear program and Israel’s demarcation talks with Lebanon.

· Ecuadorian President Daniel Noboa and leftist Luisa González debate before the presidential runoff.

· Nothing significant to report.

Economic Reports/Events –

· Federal Reserve Board Governor Michael S. Barr gives a speech on Small Business Lending at the Advancing Innovation and Fairness in Small Business Finance, Washington, D.C.

· Chile PPI (February)

· Mexico Economic Activity (January)/ Mid-month Core Inflation Rate (March)/ Mid-month Inflation Rate (March)

· USA Chicago Fed National Activity Index (February)/ S&P Global Manufacturing/ Services/ Composite PMI Flash (March)

· El Salvador GDP Growth Rate Q4/ Current Account Q4

· Paraguay PPI (February)

· Brazil BCB Focus Market Readout

Asia

Political/Social Events –

· Brazil's President Luiz Inacio Lula da Silva visits Japan from Monday to Thursday. He is to meet Japanese Prime Minister Shigeru Ishiba, and the pair are expected to agree on an action plan in the areas of investment and security.

· South Korea's Constitutional Court will rule on the impeachment of acting President Han Duck-soo, which may allow him to resume his duties in that role.

· The Asian Development Bank publishes its Asian Economic Integration report.

· The China Development Forum will begin in Beijing. The Forum is being held as China is seeing plunging inbound investments and growing uncertainties after sweeping U.S. import tariffs. Some of the executives are reportedly meeting President Xi Jinping after the forum.

Economic Reports/Events –

· Australia 2025–26 Federal Budget/ S&P Global Manufacturing/ Services/ Composite PMI Flash (March)

· Japan Jibun Bank Manufacturing/ Services/ Composite PMI Flash (March)

· India HSBC Manufacturing/ Services/ Composite PMI Flash (March)

· Singapore Inflation Rate (February)

· Taiwan Unemployment Rate (February)

Europe

Political/Social Events –

· Portugal’s Foreign Minister Paulo Rangel visits China for bilateral talks.

· In Berlin, there will be a Press conference of the conservative party CDU general secretary Carsten Linnemann to inform on the stand of the negotiations on the formation of a new governing coalition.

· NATO holds Dynamic Mariner 25 maritime exercises in Spain.

· Isar Aerospace test flight of its Spectrum launcher, first flight of an orbital vehicle launched from continental Europe, launches from Andøya, Norway.

· Russian Foreign Minister Sergei Lavrov meets with the Board of Trustees of the Gorchakov Fund think tank in Moscow.

Economic Reports/Events –

· Bank of England Governor Andrew Bailey gives the distinguished lecture at the University of Leicester.

· Switzerland Current Account Q4

· France HCOB Manufacturing/ Services/ Composite PMI Flash (March)

· Germany HCOB Manufacturing/ Services/ Composite PMI Flash (March)

· Euro Area HCOB Manufacturing/ Services/ Composite PMI Flash (March)

· Greece Current Account (January)

· Poland Retail Sales (February)/ M3 Money Supply (February)

· Great Britain S&P Global Manufacturing/ Services/ Composite PMI Flash (March)

Middle East

Political/Social Events –

· The EU Agriculture and Fisheries Council meets in Brussels. They will hold a public policy debate on the Communication on a Vision for agriculture and food, published by the European Commission on 19 February 2025.

· There will be an informal meeting of EU Health Ministers in Brussels through March 25.

Economic Reports/Events –

· Lebanon Inflation Rate (February)

· Israel Composite Economic Index (February)

· Kuwait M2 Money Supply (February)/ Private Bank Lending (February)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Tuesday, March 25, 2025

Global

· The UN Security Council is scheduled to hold a briefing on the Middle East, followed by consultations (Syria).

· The BRICS Sherpas Meeting takes place in Brazil through March 24.

Americas

Political/Social Events –

· Brazil’s Supreme Court considers whether to try ex-president Jair Bolsonaro on coup charges.

· Brazilian President Luiz Inacio Lula da Silva will visit Japan through March 26.

Economic Reports/Events –

· Federal Reserve Board Governor Adriana D. Kugler gives a speech on the Economic Landscape and Entrepreneurship at the U.S. Hispanic Chamber of Commerce 2025 Legislative Summit, Washington D.C.

· New York Federal Reserve Bank President John Williams gives opening remarks before the 2025 New York Fed Regional and Community Banking Conference.

· Brazil BCB Copom Meeting Minutes/ FGV Consumer Confidence (March)

· Mexico Retail Sales (January)

· Canada Manufacturing Sales (February)

· USA Redbook (March/22)/ S&P/Case-Shiller Home Price (January)/ House Price Index (January)/ CB Consumer Confidence (March)/ New Home Sales (February)/ Richmond Fed Manufacturing Index (March)/ Money Supply (February)/ API Crude Oil Stock Change (March/21)/ Building Permits (February)/ GDP Growth Rate Q4

· Colombia Business Confidence (February)

Asia

Political/Social Events –

· The Boao Forum, sometimes known as 'Asia's Davos,' starts on Tuesday on the southern Chinese island of Hainan under the banner "Asia in the Changing World: Towards a Shared Future." Bangladesh's leader Muhammad Yunus is expected to address the forum before heading to Beijing for a meeting with Xi on Friday.

· Australia’s Treasurer Jim Chalmers presents the federal budget.

Economic Reports/Events –

· South Korea Consumer Confidence (March)

· Australia RBA Jones Speech

· The Bank of Japan meeting notes are published.

· Malaysia Coincident Index (January)/ Leading Index (January)

· Taiwan Industrial Production (February)/ Retail Sales (February)

· Hong Kong Imports/ Exports/ Balance of Trade (February)

· Thailand New Car Sales (February)

Europe

Political/Social Events –

· The new German Parliament will convene its first session since federal elections on Feb. 23

· In the Netherlands, NATO's largest air defense exercise Joint Project Optic Windmill (JPOW).

· Today is Greek Independence Day, celebrating when the country won the Greek Revolution in 1821 freeing them from 400 years of occupation by the Ottoman Empire.

Economic Reports/Events –

· European Union New Car Registrations (February)

· Turkey Business Confidence (March)/ Capacity Utilization (March)

· Spain PPI (February)/ Consumer Confidence (February)

· Germany Ifo Business Climate/ Current Conditions/ Expectations (March)

· Poland Unemployment Rate (February)

· Slovenia Business Confidence (March)/ Tourist Arrivals (February)

· Great Britain CBI Distributive Trades (March)

· Hungary Deposit Interest Rate (March)/ Interest Rate Decision

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Israel Unemployment Rate (February)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· South Africa Leading Business Cycle Indicator (January)/ Consumer Confidence Q1

Wednesday, March 26, 2025

Global

· The BRICS 1st Finance and Central Bank Deputies meets in Brazil.

Americas

Political/Social Events –

· The Governors of the Inter-American Development Bank (IDB) hold their annual meeting in Santiago, Chile though March 30.

Economic Reports/Events –

· St. Louis Federal Reserve Bank President Alberto Musalem speaks and participates in a moderated conversation on the U.S. economy and monetary policy before a Paducah Area Chamber of Commerce/Greater Paducah Economic Development luncheon.

· USA MBA Mortgage Market Index (March/21)/ MBA Mortgage Refinance Index (March/21)/ MBA Purchase Index (March/21)/ Durable Goods Orders (February)/ EIA Crude Oil & Gasoline Stocks Change (March/21)

· Brazil Current Account (February)/ Foreign Direct Investment (February)

· Canada Wholesale Sales (February)/ BoC Summary of Deliberations

· Paraguay GDP Growth Rate Q4/ Current Account Q4

Asia

Political/Social Events –

· South Korea’s opposition official Lee Jae-myung will face a legal verdict on charges of violating the election law. If convicted he will be banned from public office, and his party will have to select another candidate ahead of the next election.

· Today is Independence Day in Bangladesh.

· The Bangkok Auto Show begins and runs through April 6.

· SEMICON China 2025, a massive semiconductor expo, begins in Shanghai, China.

Economic Reports/Events –

· South Korea Business Confidence (March)

· Australia Monthly CPI Indicator (February)

· Sri Lanka Interest Rate Decision

· Thailand Imports/ Exports/ Balance of Trade (February)

· Japan Coincident Index (January)/ Leading Economic Index (January)

· Singapore Industrial Production (February)

Europe

Political/Social Events –

· UK Finance minister Rachel Reeves delivers Spring Statement on the economy.

· Today is the 25th anniversary of Vladimir Putin being elected President of Russia.

· Russian Foreign Minister Sergei Lavrov meets with Esteban Lazo Hernandez, head of Cuba’s parliament, in Moscow.

· Russian Prime Minister Mikhail Mishustin presents a government report to the State Duma.

· The Russian Arctic Forum begins in Murmansk, Russia, and runs through March 27.

Economic Reports/Events –

· European Central Ban Executive Board Member Piero Cipollone Participates in panel discussion entitled ‘Philipp Sandner Award in Digital Finance Research’ at 11th Crypto Assets Conference organized by the Frankfurt School Blockchain Center in Frankfurt, Germany.

· Ireland Consumer Confidence (March)

· Great Britain Inflation Rate (February)/ PPI Input & Output (February)/ Retail Price Index (February)/ Spring Economic Statement

· France Consumer Confidence (March)/ Unemployment Benefit Claims (February)/ Jobseekers Total (February)

· European Central Bank Non-Monetary Policy Meeting

· Spain GDP Growth Rate Q4

· Russia Corporate Profits (January)/ Industrial Production (February)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Mozambique Interest Rate Decision

Thursday, March 27, 2025

Global

· The UN the Security Council is scheduled to hold a briefing on the United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO) followed by consultations.

· The inaugural Global Conference on AI, Security and Ethics begins in Geneva and runs through March 28.

Americas

Political/Social Events –

· US National Security Advisor Mike Walz and Second Lady Usha Vance will travel to Greenland - billed as a “private visit” – to participate in talks with the incoming new Greenland government.

Economic Reports/Events –

· Richmond Federal Reserve Bank President Thomas Barkin delivers the H. Parker Willis Lecture in Political Economy at Washington and Lee University.

· Brazil IPCA mid-month CPI (March)

· Mexico Balance of Trade (February)/ Interest Rate Decision

· Canada Average Weekly Earnings (January)

· USA GDP Growth Rate Q4/ Corporate Profits Q4/ GDP Price Index Q4/ Goods Trade Balance Adv (February)/ Initial Jobless Claims (March/22)/ Continuing Jobless Claims (March/15)/ PCE Prices Q4/ Real Consumer Spending Q4/ Pending Home Sales (February)/ EIA Natural Gas Stocks Change (March/21)/ Kansas Fed Composite & Manufacturing Index (March)/ 15- & 30-Year Mortgage Rate (March/27)/ Fed Barkin Speech/ Fed Balance Sheet (March/26)

· Argentina Current Account Q4/ Economic Activity (January)

· Colombia Cement Production (February)

Asia

Political/Social Events –

· Taiwan's President Lai Ching-te will hold the first "whole of society" civil defense drill during his term, part of a new initiative launched by the administration to assess and strengthen public preparedness. The exercise will incorporate complex disaster scenarios, including damage to critical infrastructure, and will verify the response capabilities of central and local government bodies. The test comes as tensions with China heat up, with Beijing's forces holding repeated military exercises near the island.

· French Foreign Minister Jean-Noel Barrot will visit Beijing, China, through March 28.

· Malaysian Prime Minister Anwar Ibrahim will visit Phnom Penh, Cambodia.

Economic Reports/Events –

· Japan Foreign Bond Investment (March/22)/ Stock Investment by Foreigners (March/22)

· China Industrial Profits (YTD) (February)

· Taiwan Consumer Confidence (March)

· Malaysia PPI (February)

· Pakistan Consumer Confidence (March)

Europe

Political/Social Events –

· French President Emmanuel Macron will host in Paris another summit of European leaders considering participation in a "coalition of willing" to support Ukraine. Representatives of Canada, the EU, and UK will attend.

· EU trade chief Maros Sefcovic visits Beijing through March 29 to discuss a number of trade issues.

· French President Emmanuel Macron hosts Lebanese President Joseph Aoun in Paris.

· The EU Environmental Council will meet in Brussels. Ministers will focus on the environmental dimension of the clean industrial deal, which was presented by the Commission on 26 February 2025 as a joint roadmap for competitiveness and decarbonization. The clean industrial deal aims to bring together climate action and competitiveness under one overarching growth strategy, with a focus on energy intensive industries and clean tech. It puts a strong emphasis on circularity and envisages a range of measures to strengthen the circular economy, including a circular economy act, a green VAT initiative and a chemical industry package.

Economic Reports/Events –

· European Central Bank General Council meeting

· European Central Bank Board President Christine Lagarde delivers a pre-recorded message at the conference "Mujeres en economía y finanzas" organized by Banco Central de Chile in Santiago, Chile.

· European Central Bank Executive Board Member Claudia Buch gives the introductory statement at the ECON Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, Belgium.

· European Central Bank Board Member Luis de Guindos gives a speech at the 2025 IIF European Summit "Europe at a Crossroads: A Time to Act for Competitiveness and Growth" in Brussels, Belgium.

· European Central Bank Executive Board Member Isabel Schnabel delivers the Mais Lecture “Financial literacy and monetary policy transmission” organized by Bayes Business School in London, United Kingdom.

· Turkey Imports/ Exports/ Balance of Trade (February)/ Unemployment Rate (February)/ Participation Rate (February)/ Foreign Exchange Reserves (March/21)

· Euro Area Loans to Companies & Households (February)/ M3 Money Supply (February)

· Spain Retail Sales (February)/ Current Account (January)/ Business Confidence (March)

· Switzerland Economic Sentiment Index (March)

· Russia GDP (January)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Saudi Arabia Imports/ Exports/ Balance of Trade (January)/ Unemployment Rate Q4

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· South Africa PPI (February)

· Zimbabwe Inflation Rate (March)

Friday, March 28, 2025

Global

· Nothing significant to report.

Americas

Political/Social Events –

· Brazilian President Luiz Inacio Lula da Silva will visit Vietnam through March 29.

· U.S. Secretary of Defense Pete Hegseth will visit Manila, Philippines, through March 29.

Economic Reports/Events –

· Federal Reserve Board Governor Michael S. Barr participates in a discussion on banking policy at the 2025 Banking Institute, Charlotte, North Carolina.

· Atlanta Federal Reserve Bank President Raphael Bostic moderates a Housing Finance Policy panel before the Third Annual Georgia Tech-Atlanta Fed Household Finance Conference.

· Brazil IGP-M Inflation (March)/ Unemployment Rate (February)/ Net Payrolls (February)

· Canada CFIB Business Barometer (March)/ GDP (January)/ Budget Balance (January)

· Chile Unemployment Rate (February)

· Mexico Unemployment Rate (February)

· USA Personal Income & Spending (February)/ PCE Price Index (February)/ Michigan Consumer Expectations & Sentiment (March)/ Michigan Current Conditions (March)/ Baker Hughes Total Rigs Count (March/28)

Asia

Political/Social Events –

· Bangladesh's interim leader Muhammad Yunus will meet with Chinese President Xi Jinping for bilateral talks in Beijing, China.

· The Philippines kicks off campaigning for local positions, including all seats in the House of Representatives, half in the Senate and city and provincial offices, ahead of mid-term elections. Within seven weeks, Filipinos will head off to polling stations to vote in one of the most crucial elections in recent memory. Experts widely regard it as a proxy battle between the political clans of President Ferdinand Marcos Jr. and of ex-President Rodrigo Duterte.

· Tajikistan holds elections for their upper house of parliament.

· Today is Serf’s Emancipation Day in Tibet.

Economic Reports/Events –

· New Zealand ANZ Roy Morgan Consumer Confidence (March)

· Japan Tokyo CPI (March)/ BoJ Summary of Opinions/ Construction Orders (February)

· Philippines Imports/ Exports/ Balance of Trade (February)

· Singapore Bank Lending (February)/ Imports/ Exports (February)/ PPI (February)

· Thailand Industrial Production (February)

· Malaysia M3 Money Supply (February)

· Sri Lanka Inflation Rate (March)/ Balance of Trade (February)

· India Bank Loan Growth (March/14)/ Deposit Growth (March/14)/ Foreign Exchange Reserves (March/21)

Europe

Political/Social Events –

· The EU General Affairs Council (Cohesion) meets in Brussels.

Economic Reports/Events –

European Central Bank Board Executive Board Member Luis de Guindos gives online remarks at the conference "VI Cumbre FEDEPE" organized by FEDEPE (Federation of Female Professionals).

· Germany GfK Consumer Confidence APR/ Unemployed Persons/ Change/ Rate (March)

· Turkey Economic Confidence Index (March)

· Great Britain Current Account Q4/ Goods Trade Balance (January)/ Retail Sales (February)/ Balance of Trade (January)/ Business Investment Q4/ GDP Growth Rate Q4/ Retail Sales ex Fuel (February)

· Hungary Current Account Q4/ Unemployment Rate (February)

· France Inflation Rate (March)/ Household Consumption (February)/ PPI (February)

· Slovakia Business Confidence (March)/ Consumer Confidence (March)

· Spain Inflation Rate (March)

· Switzerland KOF Leading Indicators (March)

· Slovenia Retail Sales (February)

· Italy Business Confidence (March)/ Consumer Confidence (March)/ Industrial Sales (January)/ PPI (February)

· Euro Area Economic Sentiment (March)/ Consumer Confidence (March)/ Consumer Inflation Expectations (March)/ Industrial Sentiment (March)/ Selling Price Expectations (March)/Services Sentiment (March)

· Greece PPI (February)/ Total Credit (February)

· Ireland Retail Sales (February)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Qatar Balance of Trade (February)

· Israel M1 Money Supply (February)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nigeria Foreign Exchange Reserves (March)

· Kenya Inflation Rate (March)

Saturday, March 29, 2025

Global

· Nothing significant to report.

Americas

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Asia

Political/Social Events –

· Prime Minister Shigeru Ishiba will join US Secretary of Defense Pete Hegseth and Gen Nakatani, the Japanese Defence Minister, on the Pacific island of Iwo Jima for a joint memorial service to commemorate the 1945 battle that involved some of the fiercest fighting of the second world war and the location for the famous US marine flag raising image. According to the Financial Times. Hegseth is likely to use the occasion to lobby Japan to increase its defense spending.

Economic Reports/Events –

· Japan Retail Sales (February)

· Thailand Current Account (February)/ Private Consumption & Investment (February)/ Retail Sales (January)

Europe

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Saudi Arabia M3 Money Supply (February)/ Private Bank Lending (February)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Sunday, March 30, 2025

Global

· Eid al-Fitr will be observed. It is the first of the two official holidays celebrated within Islam. Eid al-Fitr is celebrated by Muslims worldwide because it marks the end of the month-long dawn-to-dusk fasting of Ramadan.

The Global Week Ahead

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