Global Calendar June 5 - 12, 2022
This is going to be a very busy week around the world. A number of critical geopolitical meetings, summits, and dialogues are scheduled. Of particular note, Presidential leaders from the Western Hemisphere will gather Monday through Wednesday in Los Angeles for the Summit of the Americas (although a number of them are threatening to not attend unless the heads of state of Venezuela, Nicaragua, and Cuba are invited to the Summit). Indo-Pacific defense policy will be discussed and debated at the Shangrila Dialogue in Singapore - and where a possible first-of-its-kind sideline meeting between the US and Chinese defense heads could occur. Economically, we will be watching the ECB’s decision on rates (Thursday) and important economic data out of China and the US over the course of the week. Here are the key geopolitical and economic events and reports we are watching this week:
Sunday, June 5, 2022:
Political/Social Events:
NATO begins the Ramstein Legacy 2022 military exercise.
US Deputy Secretary of State Wendy Sherman begins a 10-day visit to South Korea, Philippines, Vietnam, and Laos to discuss Indo-Pacific security issues.
Kazakhstan holds a referendum on constitutional changes.
Economic Reports/Events:
Nothing significant to report.
Monday, June 6, 2022:
Political/Social Events:
Summit of the Americas takes place in Los Angeles, California. Regional Presidents will gather on Wednesday to meet.
European Parliament plenary session in Strasbourg, France (all week).
Six Mexican states hold gubernatorial and local elections.
Chilean President Gabriel Boric holds bilateral talks with Canadian Prime Minister Justin Trudeau in Ottawa.
Nigeria’s ruling APC starts voting for a presidential candidate.
The US Congress returns to session after being off last week for Memorial Day.
The House January 6th Committee begins to hold its first public hearings.
US National Intelligence Director Avril Haines, Cybersecurity and Infrastructure Security Agency Director Jen Easterly, and other senior US intelligence/Cybersecurity leaders will speak at the RSA Conference in San Francisco (Monday through Thursday).
The UN Security Council holds a meeting on Russia’s invasion of Ukraine.
The International Atomic Energy Agency Board of Governors will meet in Vienna, Austria to discuss Iran, North Korea, Syria, and other areas of concern.
South Korea observers Memorial Day in honor of those who died during the Korean War.
Economic Reports/Events:
Americas:
Mexico Gross Fixed Investment (Mar)
Brazil Central Bank Focus Market Readout
Asia:
China Caixin Services and Composite PMIs (May)
South Korea FX Reserves (May)
Japan Overtime Pay (Apr), Household Spending (Apr)
Australia TD-MI Inflation Gauge (May), ANZ Job Advertisements (May), Ai Group Services Index (May)
Europe:
Eurozone S&P Global Construction PMIs (May)
UK New Car Sales (May); BRC Retail Sales Monitor (May)
Middle East:
Nothing significant to report.
Africa:
Uganda PMIs (May)
Kenya PMIs (May)
Tuesday, June 7, 2022:
Political/Social Events:
Belgium’s King Philippe and Queen Mathilde visit the Democratic Republic of the Congo. The Royal couple is expected to offer an apology to the Congolese people for Belgium’s colonial past.
South Korea’s unionized freight workers are expected to hold nationwide strikes.
Sweden’s Parliament to hold a no-confidence vote against Justice Minister Morgan Johannson over his handling of gang violence. Prime Minister Magdalena Andersson has said she will resign if Johannson receives a no-confidence vote.
German Chancellor Olaf Scholz meets with Lithuanian President Gitanas Nauseda in Vilnius, Lithuania to discuss the situation in Ukraine.
The Ivory Coast to elect a new President of their National Assembly.
Primary elections are being held in California, Iowa, Mississippi, Montana, New Jersey, New Mexico, and South Dakota.
Economic Reports/Events:
Americas:
US Balance of Trade/Exports/Imports (Apr), Redbook (Jun), LMI Logistics Managers Index (May)
Canada Balance of Trade/Exports/Imports (Apr), Ivey PMIs (May)
Brazil Car Production (May)
Asia:
China FX Reserves (May)
Japan GDP (Q1), Current Account (Apr), GDP Price Index (Q1), Leading Economic Index (Apr), Coincident Index (Apr)
South Korea GDP (Q1)
Australia Building Permits (Apr), Private House Approvals (Apr)
Europe:
Germany Factor Orders (Apr), S&P Global Construction PMIs (May)
Spain Industrial Production (Apr), Consumer Confidence (May)
France S&P Global Construction PMIs (May)
Italy S&P Global Construction PMIs (May)
UK S&P Global/CIPS UK Services PMIs (May)
Russia FX Reserves (May)
Middle East:
Turkey Treasury Cash Balance (May)
Africa:
South Africa FX Reserves (May), GDP Growth Rate (Q1)
Seychelles inflation figures (May)
Wednesday, June 8, 2022:
Political/Social Events:
The Summit of the Americas will today host a meeting of regional presidents in Los Angeles, California.
Russian Foreign Minister Sergey Lavrov will visit Turkey for talks regarding grain exports from Ukraine’s Black Sea ports.
US Secretary of Treasury Janet Yellen to testify on the President’s proposed 2023 budget before the House Ways & Means Committee where she will likely field a number of questions about the economy.
The trial of former Fifa President Sepp Blatter and ex-Uefa Chief Michel Platini begins in the Swiss Federal Criminal Court.
Economic Reports/Events:
Global:
Americas:
US MBA Mortgage Applications/30-year Mortgage Rate/Refinance Index/Mortgage Market Index (June); Wholesale Inventories (Apr), EIA Crude Oil/Gasoline Stocks (Jun)
Brazil Net Payrolls (Apr)
Asia:
India Central Bank Rate Decision; Cash Reserve Ratio
Japan Eco Watchers Survey (May)
South Korea Unemployment Rate (May)
Australia NAB Business Confidence (May), Central Bank Chart Pack
Indonesia FX Reserves (May)
Europe:
Eurozone GDP Growth Rate (Q1), Employment Change (Q1)
Germany Industrial Production (Apr)
UK Halifax House Price Index (May), RICS House Price Balance (May), S&P Global/CIPS Construction PMIs (May)
France Balance of Trade/Current Account/Exports/Imports (Apr), FX Reserves (May)
Italy Retail Sales (Apr)
Russia Inflation Rate (May)
Middle East:
Nothing significant to report.
Africa:
South Africa current account (May), SACCI Business Confidence figures (both Apr. and May)
Thursday, June 9, 2022:
Political/Social Events:
Russian President Vladimir Putin to lead the celebration of the 350th anniversary of Peter of the Great in St. Petersburg, Russia.
Lebanon’s Central Bank Governor Riad Salemeh’s trial for bribery begins in Beirut.
Thailand official legalizes marijuana and begins to give away more than one million marijuana plants to citizens.
EU Justice and Home Affairs Council meeting in Luxembourg.
EU Competitiveness Council meeting.
US SpaceX Cargo Dragon launches from NASA’s Kennedy Space Center in Florida to resupply the International Space Station.
Economic Reports/Events:
Americas:
US Initial Jobless Claims (Jun), EIA Natural Gas Stocks (Jun)
Mexico Inflation Rate (May)
Brazil Inflation Rate (May)
Argentina Industrial Production (Apr)
Asia:
China Balance of Trade/Exports/Imports (May)
Japan PPIs (May), Machine Tool Orders (May)
South Korea Current Account (Apr)
Indonesia Consumer Confidence (May)
Europe:
European Central Bank (ECB) Interest Rate Decision and Press Conference
France Non-Farm Payrolls (Q1)
UK BBA Mortgage Rate (May)d
Middle East:
Saudi Arabia Industrial Production (Apr)
Africa:
South Africa Current Account (Q1), Gold Production/Mining Production (Apr), Business Confidence (Q2), Manufacturing Production (Apr),
Friday, June 10, 2022:
Political/Social Events:
The OECD International Economic Forum on Africa is held in Paris, France.
Economic Reports/Events:
Americas
US Inflation Figures (May), Michigan Consumer Sentiment (Jun), WASDE Report, Monthly Budget Statement (May)
Canada Employment Figures (May), Capacity Utilization (Q1)
Mexico Industrial Production (Apr)
Brazil Retail Sales (Apr)
Asia:
China Inflation Rate (May), PPIs (May)
India Industrial Production/Manufacturing Production (Apr), FX Reserves (Jun), Passenger Vehicles Sales (May)
Australia Consumer Inflation Expectations (Jun), HIA New Homes Sales (May)
Indonesia Retail Sales (Apr)
Europe:
France Private non-Farm Payrolls (Q1)
Spain Inflation Rates (May)
Italy Industrial Production (Apr)Russia Central Bank Interest Rate Decision and Press Conference
Middle East:
Turkey Unemployment Rate (Apr), Auto Production (May)
Africa:
Rwanda inflation figures (May)
Uganda S&P Global ratings
Saturday, June 11, 2022:
Political/Social Events:
The Financial Action Task Force holds their Conference on Digital Transformation in Berlin, Germany.
Papua New Guinea holds general elections.
UK Fashion Week begins in London.
Economic Reports/Events:
Americas:
Nothing to report.
Asia:
China Vehicles Sales (May), New Yuan Loans (May), Total Social Financing (May)
Europe:
Nothing to report.
Middle East:
Nothing to report.
Africa:
Nothing to report.
Sunday, June 12, 2022:
Political/Social Events:
World Trade Organization holds its Ministerial Conference in Geneva, Switzerland.
France holds National Assembly elections (through June 19th).
Meeting of G-7 Science Ministers in Frankfurt, Germany.
Italy holds municipal elections.
Russia Day is scheduled to be commemorated in Russia in honor of the country’s independence from the Soviet Union in 1990.
Economic Reports/Events:
Nothing significant to report.