The Global Week Ahead

August 25 - September 1, 2024

In Focus: Still Holding Out Hope for a Gaza Cease Fire; US National Security Advisor Sullivan Heads to China for High-Level Talks; Mexico’s Judges Protest Against Sweeping Reforms, and Inflation Data Released Before the Federal Reserve’s Next Meeting

Summer comes to an end this week, and we are all bracing for an extremely busy Autumn in the US and around the world.  The tense situation in the Middle East will continue to dominate the attention of markets this week, especially after Israel’s massive preemptive strike this weekend on Hezbollah forces in southern Lebanon.  The strike is the biggest military action so far this year between Israeli Defense Forces and Hezbollah forces.  More than 100 Israeli fighter jets struck sites across the region, reportedly destroying a number of missile sites – estimated to be more than 40 sites – that were reportedly preparing to strike Tel Aviv and other urban centers in Israel. 

Yet, despite this significant uptick in fighting, negotiators are set to meet in Cairo this week, and the Qatari Prime Minister travels to Tehran for talks. Additionally, US Chairman of the Joint Chiefs of Staff General Charles Q. Brown, Jr., is traveling to Israel to ensure defense preparations against further Iranian or Iranian-affiliated attacks, emphasizing the US’ determination to discourage any attacks that could derail negotiations.

It seems some sort of cease-fire deal has been within reach for months now, but sources tell us this time, it is closer than ever.  We would note Iran has continued to hold off striking back at Israel following the assassination of a senior Hamas official who was visiting Tehran and the killing of a senior Hezbollah commander last month, actions Iranian officials swore to retaliate for. 

Meanwhile, U.S. National Security Advisor Jake Sullivan will travel to Beijing this week for meetings with senior Chinese diplomat Wang Yi.  The purpose of the meeting is to discuss ways to improve dialogue between Washington and Beijing, how to further incapacitate the fentanyl trade coming out of China, and surely discussions about China’s support for Russia’s war against Ukraine.  While Sullivan has had increasingly regular talks with Wang over the last two years, this is the first time he has visited Beijing for such meetings – and the first time a U.S. National Security Advisor has traveled to Beijing since 2016 when then-National Security Advisor Susan Rice went at the direction of President Barrack Obama.

This will be a big week in Mexico – the United States’ largest trading partner – as the country’s judiciary begins massive protests against a highly controversial “reform” effort by Mexican President Andres Manuel Lopez Obrador (AMLO) to push through legislation requiring all judges be elected by popular vote instead of being appointed.  The worry is this will make the judiciary highly politicized and also allow drug cartels to have an even greater ability to control the legal system.  And it has foreign investors deeply worried about what it could do to commercial law in the country.  AMLO’s proposal has been endorsed by his successor, Claudia Sheinbaum, who is set to be sworn in as Mexico’s new president in October.

Looking at the global economic radar screen this week, markets are looking at US PCE and CPI prints this week – the last ones to come out before the Federal Reserve meets to discuss – and, as Fed Chair Jay Powell indicated in a speech in Jackson Hole Friday – begin lowering interest rates.  Additionally, the Conference Board releases the closely watched Consumer Confidence Index this week.

In Asia, it is a big week for economic reports.  Japan releases its August CPI figures, labor market numbers, and industrial production numbers.  China sets its 1-year MLF rate (along with a flood of Chinese corporate earnings), and Australia releases its August CPI.

Turning to Europe, CPI numbers will be out for the Eurozone, Germany, France, Spain, and Italy this week.  Germany and France also release consumer confidence reports, giving investors a deeper sense of whether the two economic engines of Europe are getting back on track or will continue sputtering.

Here is what else we are watching closely around the world this coming week:

Sunday, August 25, 2024

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Mexican judicial workers – including judges – will rally in Mexico City to protest sweeping government-sponsored judicial reforms.  The proposals, being pushed through by President Andres Manuel Lopez Obrador, have come under heavy criticism not only inside Mexico but from abroad.  Both the US Ambassador to Mexico, Ken Salazar, called the reforms a “major risk to democracy.”  The Canadian Ambassador to Mexico, Graham Clark, said, “My investors are concerned, they want stability, they want a judicial system that works if there are problems.”

·       In Argentina, unionized pilots flying for Aerolineas Argentinas will strike and stage demonstrations at Argentina's commercial airports through August 30. 

·       Today is Uruguay Independence Day, marking the day in 1828 when the country gained its independence from Portugal.

Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·       Today is Day of Songun, a national holiday in North Korea.  The day celebrating the start of the military-first rule in the nation under the leadership of Kim Jong-Il in 1948.

Economic Reports/Events –

·       Nothing significant to report.

Europe

Political/Social Events –

·       Nothing significant to report. 

Economic Reports/Events –

·       European Central Bank Board Member Piero Cipollone participates in panel discussion at The Rimini Meeting 2024 "Se non siamo alla ricerca dell'essenziale, allora cosa cerchiamo?" in Rimini, Italy.

Middle East

Political/Social Events –

·       The Shiite Arbaeen pilgrimage, which commemorates the martyrdom of Imam Hussein, will take place in Karbala, Iraq.  It is considered one of the world’s largest public gatherings.

Economic Reports/Events –

·       Nothing significant to report.

Africa

Political/Social Events –

·       Japan’s Ministry of Foreign Affairs hosts the Tokyo International Conference on African Development (TICAD) Ministerial Meeting.

Economic Reports/Events –

·       Nothing significant to report.

Monday, August 26, 2024

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Indian Defense Minister Rajnath Singh meets with US Secretary of Defense Lloyd Austin and National Security Advisor Jake Sullivan in Washington, DC.  Singh will also chair a high-level roundtable with defense industry executives regarding ongoing and future defense collaborations.

·       The 10th Annual AmeriGEO Conference, hosted by Ecuador’s Secretariat for Risk Management and Military Geographic Institute, takes place in Quito, Ecuador.  The conference, which will be attended by senior government official from throughout the Hemisphere seeks to “brings together diverse communities and builds connections, fostering collaboration among national, regional, and international efforts in integrated Earth and social science research.’

·        

Economic Reports/Events –

·       Brazil FGV Consumer Confidence AUG/ Current Account JUL/ Foreign Direct Investment JUL/ BCB Focus Market Readout

·       Canada Wholesale Sales MoM Prel JUL

·       USA Durable Goods Orders MoM JUL/ Dallas Fed Manufacturing Index AUG

Asia

Political/Social Events –

·       The 53rd Pacific Islands Forum Leaders meeting takes place in Tonga.  UN Secretary-General Antonio Guterres will speak.  The main topics are expected to be climate change and ongoing tensions between China and the US.

·       The US and Indonesia hold Garuda Shield, a military exercise in Indonesia.

·       Today is National Heroes Day in the Philippines, honoring all those who died for the independence of the country.

Economic Reports/Events –

·       Thailand Imports/ Exports/ Balance of Trade JUL

·       Singapore Industrial Production YoY JUL

Europe

Political/Social Events –

·       International Atomic Energy Agency Director General Rafael Grossi travels to the Kursk Nuclear Power Plant in Russia.   Grossi is traveling to inspect the plant following Russian drone attacks last week which damaged the facility.  Russian President Vladimir Putin has accused Ukraine of attacking the plant but evidence suggests it was actually Russian drones that hit the plant.

·       French President Emmanuel Macron will meet the leaders of the far-right National Rally party alongside the leader of the center-right Les Republicains party, Eric Ciotti, as part of ongoing government formation consultations. 

·       EU President Ursula von der Leyen meets with French President Emmanuel Macron in Paris.

·       Today is the late Summer Bank Holiday in the UK.

Economic Reports/Events –

·       Ireland Consumer Confidence AUG

·       Hungary Gross Wage YoY JUN

·       Switzerland Non-Farm Payrolls Q2

·       Spain PPI YoY JUL

·       Turkey Business Confidence AUG/ Capacity Utilization AUG

·       Germany Ifo Business Climate AUG/ Ifo Current Conditions AUG/ Ifo Expectations AUG

·       Poland Unemployment Rate JUL

·       Slovenia Business Confidence AUG

Middle East

Political/Social Events –

·       Qatari Prime Minister Sheikh Mohammed bin Abdulrahman Al Thani is expected to travel to Tehran, Iran for meeting with senior Iranian officials regarding the state of negotiations over Gaza as well as the looming threat of an attack by Iran on Israel.  Qatar and Egypt along with the US have acted as mediators in efforts to secure a ceasefire in Gaza to end the 10-month long war.  Talks are expected resume later this week between representatives of Hamas and Israel either in Cairo or in Qatar.

Economic Reports/Events –

·       Lebanon Inflation Rate YoY JUL

·       Qatar M2 Money Supply YoY JUL

·       Israel Manufacturing PMI JUN/ Manufacturing PMI JUL

·       Kuwait Private Bank Lending YoY JUL

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nigeria GDP Growth Rate YoY Q2

Tuesday, August 27, 2024

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       US National Security Advisor Jake Sullivan will travel to Beijing.  He will meet with top Chinese diplomat Wang Yi to discuss a range of issue ranging from Taiwan to US-China military talks and fentanyl.  This is the first visit by a US National Security Advisor to China since 2016.

·       SpaceX will attempt the first ever private spacewalk.

Economic Reports/Events –

·       Brazil IPCA mid-month CPI YoY AUG

·       Mexico Balance of Trade JUL

·       USA Redbook YoY AUG/24/ S&P/Case-Shiller Home Price YoY JUN/ House Price Index JUN/ CB Consumer Confidence AUG/ Richmond Fed Manufacturing Index AUG/ Dallas Fed Services Index AUG/ NY Fed Treasury Purchases 22.5 to 30 yrs/ Money Supply JUL/ API Crude Oil Stock Change AUG/23

Asia

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       China Industrial Profits (YTD) YoY JUL

·       Taiwan Consumer Confidence AUG

·       Vietnam Foreign Direct Investment AUG

·       Hong Kong Imports/ Exports/ Balance of Trade JUL

Europe

Political/Social Events –

·       Spanish Prime Minister Pedro Sanchez begins a multi-day visits Mauritania, Gambia and Senegal.

·       Today is Independence Day in Moldova, marking when the country gained its independence from the Soviet Union in 1991.

Economic Reports/Events –

·       Germany GDP Growth Rate YoY Final Q2

·       Great Britain CBI Distributive Trades AUG

·       Hungary Deposit Interest Rate AUG/ Interest Rate Decision

·       Spain Consumer Confidence JUL

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Africa

Political/Social Events –

·       The US-Africa Nuclear Energy Summit takes place in Nairobi, Kenya.

Economic Reports/Events –

·       Zimbabwe Inflation Rate MoM AUG

Wednesday, August 28, 2024

Global

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

·       The 2024 Summer Paralympics begin in Paris and run through September 8.

Americas

Political/Social Events –

·       Chilean government authorities will attend the "Chile Summit India 2024" in New Delhi and Mumbai through August 30.

Economic Reports/Events –

·       Federal Reserve Board Governor Christopher J. Waller gives a speech on payments at the Global Fintech Festival 2024, Mumbai, India.

·      USA MBA Mortgage Market Index AUG/23/ MBA Purchase Index AUG/23/ EIA Crude Oil & Gasoline Stocks Change AUG/23

·      Uruguay Unemployment Rate JUL

Asia

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Australia Monthly CPI Indicator JUL/ Construction Work Done QoQ Q2

·       Philippines Budget Balance JUL

·       Malaysia PPI YoY JUL

·       Japan Coincident Index Final JUN/ Leading Economic Index Final JUN

Europe

Political/Social Events –

·       UK Prime Minister Keir Starmer visits Germany for meetings with German Chancellor Olaf Scholz his first visit to Germany since being elected Prime Minister.

Economic Reports/Events –

·       Germany GfK Consumer Confidence SEP

·       France Consumer Confidence AUG/ Unemployment Benefit Claims JUL/ Jobseekers Total JUL

·       Slovakia Business & Consumer Confidence AUG

·       Turkey Imports/ Exports/ Balance of Trade Final JUL

·       Euro Area Loans to Companies & Households YoY JUL/ M3 Money Supply YoY JUL

·       Italy Industrial Sales YoY JUN

·       Switzerland Economic Sentiment Index AUG

·       Slovenia Retail Sales YoY JUL

·       Greece Total Credit YoY JUL

·       Russia Unemployment Rate JUL/ Business Confidence AUG/ Corporate Profits JUN/ Industrial Production YoY JUL/ Real Wage Growth YoY JUN/ Retail Sales YoY JUL/ GDP YoY JUL

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Israel Interest Rate Decision

·       Qatar GDP Growth Rate YoY Q1

·       Saudi Arabia M3 Money Supply YoY JUL/ Private Bank Lending YoY JUL

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Thursday, August 29, 2024

Global

·       The UN Security Council is scheduled to vote on a draft resolution to extend the mandate of the United Nations Interim Force in Lebanon (UNIFIL), followed by consultations on the 1718 Committee.

Americas

Political/Social Events –

·       The US and Argentina sign a memorandum of understanding for the export of critical minerals to the US.

Economic Reports/Events –

·       Atlanta Federal Reserve Bank President Raphael Bostic to give "Introduction to the Federal Reserve and an Economic Outlook" presentation before a Georgia Tech Scheller College of Business Management of Financial Institutions class in Atlanta, Georgia.

·      Brazil IGP-M Inflation MoM AUG/ Bank Lending MoM JUL/ PPI YoY JUL/ Net Payrolls JUL

·      Canada Current Account Q2/ Average Weekly Earnings YoY JUN

·      USA GDP Growth Rate QoQ 2nd Est Q2/ Corporate Profits QoQ Prel Q2/ GDP Price Index QoQ 2nd Est Q2/ Goods Trade Balance Adv JUL/ Initial Jobless Claims AUG/24/ Retail Inventories Ex Autos MoM Adv JUL/ Wholesale Inventories MoM Adv JUL/ Core PCE Prices QoQ 2nd Est Q2/ PCE Prices QoQ 2nd Est Q2/ Real Consumer Spending QoQ 2nd Est Q2/ Pending Home Sales YoY JUL/ EIA Natural Gas Stocks Change AUG/23/ Fed Balance Sheet AUG/28

·      Chile Unemployment Rate JUL

·      Colombia Business Confidence JUL

·      Argentina Consumer Confidence AUG

Asia

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Japan Foreign Bond Investment AUG/24/ Stock Investment by Foreigners AUG/24

·       New Zealand ANZ Business Confidence AUG

·       Australia Building Capital Expenditure QoQ Q2/ Plant Machinery Capital Expenditure QoQ Q2/ Private Capital Expenditure QoQ Q2

·       Vietnam Balance of Trade AUG/ Industrial Production YoY AUG/ Inflation Rate YoY AUG/ Retail Sales YoY AUG/ Tourist Arrivals YoY AUG

·       Singapore Export Prices YoY JUL/ Import Prices YoY JUL/ PPI YoY JUL

·       Kazakhstan Interest Rate Decision

Europe

Political/Social Events –

·       EU Foreign Affairs Ministers will hold an informal meeting in Brussels.

·       French President Emmanuel Macron visits Serbia for meetings with Serbian President Aleksandar Vucic.  They will discuss ways to broaden economic ties but also Artificial Intelligence.  Serbia is chairing the Global Partnership on Artificial Intelligence – an initiative set up by Macron and Canadian Prime Minister Justin Trudeau.

·       Today is the deadline for nominations to be submitted for EU Commissioners.

·       Today is the anniversary of the Slovak National Uprising, marking the day in 1944 when the people of Slovakia rose up against Nazi rule.

Economic Reports/Events –

·       European Central Bank Board Member Philip R. Lane will participate on a panel entitled "Inflation – Challenges for Policymakers and Researchers" organized by Brandeis University/CEBRA at annual Central Bank Research Association meeting organized with the Leibniz Institute for Financial Research SAFE and Deutsche Bundesbank in Frankfurt, Germany.

·       Great Britain Car Production YoY JUL

·       European Union New Car Registrations YoY JUL

·       Spain Inflation Rate YoY Prel AUG/ Business Confidence AUG

·       Turkey Economic Confidence Index AUG/ MPC Meeting Summary/ Foreign Exchange Reserves AUG/23

·       Germany Baden Wuerttemberg CPI YoY AUG/ Bavaria CPI YoY AUG/ Brandenburg CPI YoY AUG/ Hesse CPI YoY AUG/ North Rhine Westphalia CPI YoY AUG/ Saxony CPI YoY AUG/ Inflation Rate YoY Prel AUG

·       Poland GDP Growth Rate QoQ Final Q2

·       Euro Area Economic Sentiment AUG/ Consumer Confidence Final AUG/ Consumer Inflation Expectations AUG/ Industrial Sentiment AUG/ Selling Price Expectations AUG/ Services Sentiment AUG

·       Greece Unemployment Rate JUL

·       Ireland Harmonized Inflation Rate YoY Prel AUG/ Wholesale Prices YoY JUL

Middle East

Political/Social Events –

·       Turkey will host Iraqi, Qatari and Emirati officials for a Development Road Summit in Istanbul.  The estimated $20 billion project aims connect Iraq’s Basra port on the Persian Gulf to Turkey and beyond.  The UAE and Qatar are potential investors in the project.

Economic Reports/Events –

·       Qatar Balance of Trade JUL

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       South Africa PPI YoY JUL

Friday, August 30, 2024

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Canada CFIB Business Barometer AUG/ GDP Growth Rate Annualized Q2/ GDP MoM JUN/ Budget Balance JUN

·       Brazil Gross Debt to GDP JUL/ Nominal Budget Balance JUL/ Unemployment Rate JUL

·       USA PCE Price Index YoY JUL/ Personal Income & Spending JUL/ Chicago PMI AUG/ Michigan Consumer Sentiment & Expectations Final AUG

·       Chile Copper Production YoY JUL/ Industrial Production YoY JUL/ Manufacturing Production YoY JUL/ Retail Sales YoY JUL

·       Colombia Unemployment Rate JUL

·       Uruguay Balance of Trade JUL

·       Mexico Fiscal Balance JUL

Asia

Political/Social Events –

·       Today is Popular Consultation Day in East Timor.  It marks the day when the country held a referendum in 1999 to let the people of East Timor choose between greater autonomy in Indonesia or separation.

Economic Reports/Events –

·       New Zealand ANZ Roy Morgan Consumer Confidence AUG/ Building Permits MoM JUL

·       South Korea Industrial Production YoY JUL/ Retail Sales MoM JUL

·       Japan Unemployment Rate JUL/ Tokyo CPI AUG/ Retail Sales YoY JUL/ Industrial Production YoY JUL/ Consumer Confidence AUG/ Housing Starts YoY JUL/ Construction Orders YoY JUL

·       Philippines PPI YoY JUL

·       Australia Housing Credit MoM JUL/ Retail Sales MoM JUL/ Private Sector Credit YoY JUL

·       Singapore Bank Lending JUL

·       Thailand Industrial Production YoY JUL/ Current Account JUL/ Private Consumption & Investment JUL/ Retail Sales YoY JUN

·       Malaysia M3 Money Supply YoY JUL

·       Hong Kong Retail Sales YoY JUL

·       Sri Lanka Inflation Rate YoY AUG/ PPI YoY JUL/ Balance of Trade JUL

·       India Government Budget Value JUL/ Foreign Exchange Reserves AUG/23/ Infrastructure Output YoY JUL/ GDP Growth Rate YoY Q2

·       Pakistan Consumer Confidence AUG

Europe

Political/Social Events –

·       EU Defense Ministers will hold an informal meeting in Brussels.

·       Members of the Collective Security Treaty Organization will conduct weeks-long military exercises in Kazakhstan, Kyrgyzstan and Tajikistan to maintain regional stability amid threats emanating from Afghanistan. 

Economic Reports/Events –

·       European Central Bank Board Member Isabel Schnabel gives a lecture at Ragnar Nurkse Lecture Series organized by Bank of Estonia in Tallinn, Estonia.

·       European Central Bank Board member Kerstin af Jochnick participates on a panel at the joint European Banking Authority & European Central Bank international conference on Supervisory Cooperation in Frankfurt, Germany.

·       France Private Non-Farm Payrolls QoQ Final Q2/ Inflation Rate YoY Prel AUG/ GDP Growth Rate YoY Final Q2/ Household Consumption MoM JUL/ PPI YoY JUL

·       Germany Retail Sales YoY MAY/ Import Prices YoY JUL/ Unemployed Persons/ Change/ Rate AUG

·       Romania Unemployment Rate JUL

·       Hungary PPI YoY JUL

·       Spain Retail Sales YoY JUL/ Current Account JUN

·       Switzerland KOF Leading Indicators AUG

·       Italy Unemployment Rate JUL/ Inflation Rate Prel AUG/ Business & Consumer Confidence AUG

·       Poland Inflation Rate YoY Prel AUG

·       Slovenia Inflation Rate YoY AUG

·       Great Britain BoE Consumer Credit JUL/ Mortgage Approvals & Lending JUL/ M4 Money Supply MoM JUL/ Net Lending to Individuals MoM JUL

·       Euro Area Inflation Rate Flash AUG/ Unemployment Rate JUL/ CPI Flash AUG

·       Greece PPI YoY JUL/ Retail Sales YoY JUN

·       Ireland Retail Sales YoY JUL

·       Serbia Balance of Trade JUL/ Industrial Production YoY JUL/ Retail Sales YoY JUL/ Unemployment Rate Q2

·       Ukraine Current Account JUL

·       Russia M2 Money Supply YoY JUL

Middle East

Political/Social Events –

·       Today is Turkey Victory Day, marking the day in 1922 when Turkish military forces defeated the Greeks at the Battle of Dumlupinar. Financial markets are closed.

Economic Reports/Events –

·       Nothing significant to report.

Africa

Political/Social Events –

·    A special session of the African Ministerial Conference on the Environment and the UN Convention to Combat Desertification will be held in Abidjan, Côte d’Ivoire.

Economic Reports/Events –

·       South Africa M3 Money Supply YoY JUL/ Private Sector Credit YoY JUL/ Balance of Trade JUL/ Budget Balance JUL

·       Nigeria Foreign Exchange Reserves AUG

·       Kenya Inflation Rate YoY AUG

·       Egypt M2 Money Supply YoY JUL

Saturday, August 31, 2024

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Today is Trinidad and Tobago Independence Day, celebrating when the country gained its independence from Britain in 1962.

Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·       Niue, an island country in free association with New Zealand, holds a constitutional referendum which will change the head of government from a Premier to a Prime Minister, extend the term length of members of the assembly from three to four years, increase the size of the cabinet from four to six members, and make the Auditor-General of New Zealand as the country’s official auditor.

·       Today is Kyrgyzstan Independence Day, marking the day the country declared independence from the Soviet Union in 1992.

·       Today is Malaysia Independence Day, marking the day the country gained its independence from Britain in 1957.

Economic Reports/Events –

·       China NBS Non- & Manufacturing PMI AUG/ NBS General PMI AUG

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 –

·       Nothing significant to report.

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Sunday, September 1, 2024

Global

·       Slovenia assumes the chair of the UN Security Council for the month of September.

Americas

Political/Social Events –

·       Mexican President Andrés Manuel López Obrador gives an annual speech on the executive branch’s accomplishments, similar to a state of the nation address.

Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·    Indonesia hosts the 2nd Annual Indonesia-Africa Forum in Bali.  Indonesian President Joko Widodo and more than 30 African leaders will meet for three days to discuss how to deepen political and economic ties and build stronger supply chains and healthcare systems.

·       Azerbaijan holds parliamentary elections.

·       Today is Uzbekistan Independence Day, celebrating when the country was able to declare its independence from the Soviet Union in 1991.

·       Today is Constitution Day in Kazakhstan.

Economic Reports/Events –

·       South Korea Imports/ Exports/ Balance of Trade AUG

·       Australia CoreLogic Dwelling Prices MoM AUG

Europe

Political/Social Events –

·       In Germany, state elections will be held in Saxony and Thuringia.

·       Czechia will hold regional elections and the election of one-third of the Senate.

Economic Reports/Events –

·       Nothing significant to report.

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 –

·       Nothing significant to report.