Global Calendar May 31 - June 5, 2022
This is Fulcrum Macro Advisors weekly calendar of key political and economic events we are watching in the coming week. Please let us know if you have any questions.
This week’s report is shortened due to the long holiday weekend in the United States. We are watching in particular this week the OPEC+ meeting being held in Saudi Arabia as well as Russian Foreign Minister Lavrov’s side meetings with officials in Bahrain. We will learn if Wikileaks founder Julian Assange is extradited or not. Also this week, the US Federal Reserve releases their “Beige Book” and a host of employment and inflation figures are released around the world.
Here is what else we are watching politically and economically around the world this coming week:
Tuesday, May 31, 2022:
Political/Social Events:
Term of EU President Charles Michel first term ends and the second begins.
World Trade Organization dispute settlement body holds a monthly meeting.
The UK must make a decision by end of the day whether to extradite Wikileaks founder Julian Assange.
Economic Reports/Events:
Americas:
US S&P/Case Shiller Home Price (Mar); Chicago PMI (May); CB Consumer Confidence (May); Dallas Fed Manufacturing Index (May)
Canada GDP rate (Q1)
Brazil Unemployment Rate (Apr); Budget Balance (Apr)
Mexico unemployment figures (Apr)
Asia:
China NBS Manufacturing/Non-Manufacturing PMIs (May); NBS General PMIs (May)
India GDP (Q1); Infrastructure Rate (Apr); Government Budget Value (Apr); Budget Balance (Apr)
Japan Consumer Confidence (May); Housing Starts (Apr); Construction Orders (Apr)
Australia S&P Global Manufacturing PMIs (May); Company Gross Profits (Q1); Building Permits (Apr); Business Inventories (Q1); Current Account (Q1); Private House Approvals (Apr); Private Sector Credit (Apr)
Europe:
German Unemployment figures (Apr)
France Inflation Rate (May); GDP (Q1); PPIs (Apr); Household Consumption (Apr)
Italy GDP figures (Q1); Inflation figures (May)
Spain Current Account (Mar)
UK Mortgage Lending/Approvals (Apr); BoE Consumer Credit (Apr)
Russia Central Bank Financial Stability Review
Eurozone Inflation figures (May)
Middle East:
Turkey GDP (Q1); Balance of Trade (Q1)
Africa:
South Africa Balance of Trade (Apr); Private Sector Credit figures (Apr); Unemployment figures (Q1)
Kenya inflation figures (May)
Uganda inflation figures (May)
Wednesday, June 1, 2022:
Political/Social Events:
Albania assumes the revolving presidency of UN Security Council.
Shanghai to move to the next phase of lock-down.
Islamic Development Bank’s Board of Governors to meet in Sharm El Sheikh, Egypt to discuss economic recovery issues post-COVID.
Israeli Defense Minister Benny Gantz visits India to discuss mutual defense issues.
The Chairman of Taiwan’s opposition party, Kuomintang, begins a 12-day visit to the US.
Denmark holds a referendum on joining the EU’s defense pact as well as increasing the military spending budget and moving to stop using Russian gas.
South Korea holds local elections (Mayoral and Gubernatorial).
The US is expected to remove 25 percent tariffs on British steel and aluminum exports. Conversely, the UK will suspect taxes on US products including US-made bourbon.
Japan to double the number of tourists allowed entry into the country (20,000).
Economic Reports/Events:
Americas:
US Federal Reserve Beige Book, S&P Manufacturing PMIs (May), MBA Mortgage figures (May)
Mexico Business Confidence (May), FX Reserves (Apr), Global Manufacturing
Brazil S&P Manufacturing PMIs (May), Balance of Trade (May)
Canada S&P Manufacturing PMIs (May)
Asia:
China Caixin Manufacturing PMI (May)
India S&P Global Manufacturing PMIs (May)
South Korea Imports/Exports/Balance of Trade (May)
Japan Jibun Bank Manufacturing PMIs (May)
Australia GDP figures (Q1), Commodity Prices (May)
Europe:
Eurozone S&P Manufacturing PMIs (May), Unemployment Rate (May)
Germany S&P Manufacturing PMIs (May), Retail Sales (Apr)
Russia GDP (Apr-May), S&P Global Manufacturing PMIs (May), Industrial Production (Apr), Real Wage Growth (Apr)
UK S&P Manufacturing PMIs (May), Nationwide Housing Prices (May)
France S&P Manufacturing PMIs (May), Budget Balance (Apr)
Spain S&P Manufacturing PMIs (May)
Italy S&P Manufacturing PMIs (May), Unemployment numbers (Apr)
Middle East:
Turkey manufacturing PMIs (May)
Africa:
Nigeria’s PMIs (May)
South Africa vehicle sales (May), Manufacturing PMIs (May)
Thursday, June 2, 2022
Political/Social Events:
OPEC+ meeting to discuss pricing and production.
EU General Affairs Council (Cohesion) to discuss internal EU alignment issues.
EU Transport, Telecommunications and Energy Council (Transport) meeting.
ASEAN Regional Forum Security Policy Conference to be held in Phnom Penh, Cambodia.
The UK holds the Trooping of the Colour military parade to celebrate Queen Elizabeth’s 96th birthday.
Italy celebrates “Festa della Repubblica” commemorating the country forming the first post-World War II government.
Economic Reports/Events:
Global:
OPEC+ Ministerial meetings begin, Saudi Arabia.
Americas:
US employment numbers (May), Non-Farm Productivity (May), Factory Orders (Apr), Crude Oil Import/Refinery figures (May)
Canada Building Permits (Apr)
Brazil inflation figures (May), GDP figures (Q1), PPIs (Apr)
Mexico Consumer Confidence (May)
Asia:
India Balance of Trade/Exports/Imports (May)
Indonesia S&P Global Manufacturing PMI (May), Inflation Rate figures (May)
South Korea S&P Global Manufacturing PMI (May), Inflation Rate (May)
Australia S&P Global Services PMIs (May)balance of trade, retail sales, exports, imports (all Apr), Construction Index (May)
Europe:
Spain Unemployment figures (May)
Middle East:
No significant reports.
Africa:
South Africa electricity production and consumption figures (Apr)
Friday, June 3, 2022:
Political/Social Events:
o EU Foreign Affairs Council (Trade) meets in Luxembourg to discuss the state of play of WTO reform and EU-US trade relations.
o EU Transport, Telecommunications, and Energy Council (Telecommunications) meet to discuss the EU’s digital transition (AI, digital identity regulation, and Data Act).
o China and Taiwan each hold an annual Dragon Boat Racing Festival.
Economic Reports/Events:
Americas:
US Unemployment rate/non-farm payrolls/average hourly earnings/participation rate (May)
Brazil Industrial Production (Apr), S&P Global Services and Composites PMIs (May), S&P Global Services and Composites PMIs (May)
Canada Labor Productivity (Q1)
Asia:
Japan Jibun Bank Services and Composite PMIs (May)
Australia Home Loans/Lending (Apr)
India S&P Global Services PMIs (May), FX Reserves (May)
Europe:
Eurozone S&P Global Services and Composites PMIs (May), Retail Sales (Apr)
Germany Balance of Trade/Exports/Imports (Apr), Current Account (Apr), S&P Global Services and Composites PMIs (May)
Russia S&P Global Services PMIs (May), Business Confidence (May)
France Industrial Production (Apr), Retail Sales (Apr)
Spain S&P Global Services and Composites PMIs (May)
Italy S&P Global Services and Composites PMIs (May)
France S&P Global Services and Composites PMIs (May)
Middle East:
Turkey PPIs (May), Inflation Rate (May)
Africa:
Mozambique PMIs (May)
South Africa PMIs (May)
Ghana PMIs (May)
Saturday, June 4, 2022:
Political/Social Events:
Day 100 of Russia’s invasion of Ukraine.
33rd anniversary of the Tiananmen Square crackdown in Beijing.
Iran holds a national holiday commemorating the death of Ayatollah Khomeini.
Economic Reports/Events:
Nothing of significance to report.
Sunday, June 5, 2022:
Political/Social Events:
Pentecost is celebrated by Western Christian Churches.
Economic Reports/Events:
Americas:
Brazil S&P Global Services and Composites PMIs (May)