The Global Week Ahead

February 26 - March 5, 2023

This week, Ukraine and China will dominate the geopolitical calendar.  German Chancellor Olaf Scholz visits the White House for talks on Ukraine on Friday while G20 Foreign Ministers meet in India to discuss the Ukraine War, food security, and other pressing issues.  The meeting is likely to be quite tense as Russian Foreign Minister Sergey Lavrov has confirmed he will be in attendance.

China will be holding the National People’s Congress later this week, where a host of new government appointments will be made, including the new Chinese Premier, the Finance Minister, and the Governor of the People’s Bank of China, among others.  We will also see Beijing unveil new policies to energize the economy post-COVID along with its 2023 budget.

Global markets this week will be looking at key economic data releases in China, Japan, the EU, and the US.  US data releases this week.  China PMIs, EU CPIs, and US consumer confidence are most in focus. In Japan, the candidates for Governor and the two Deputy Governors of the Bank of Japan have confirmation hearings in the Upper House of the Japanese Parliament this week.  They are likely to be quickly confirmed.

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

Sunday, February 26, 2023:

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       In Mexico, opponents of reforms to Mexico's National Electoral Institute will protest in major cities nationwide.

·       Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·       The Chinese Communist Party’s 20th Central Committee holds the second plenary session through February 28th in Beijing.   It is expected they will hold discussions on party reforms and state organizations.

·       Japan’s Liberal Democratic Party to hold their party convention in Tokyo.

Economic Reports/Events –

·       Nothing significant to report.

Europe

Political/Social Events –

·       Italy's leading center-left opposition party, the Democratic Party, will elect its new leader.

·       The Czech Republic's foreign minister, Jan Lipavsky, will begin a four-day visit to India to discuss bilateral issues and participate in the India-EU Business and Sustainability Conclave.

·       In the UK, Manchester United plays Newcastle United in the Carabou Cup Final at Wembley Stadium, London.

Economic Reports/Events –

·       Nothing significant to report.

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Kuwait observes Liberation Day, remembering the day the country was liberated by Iraqi occupation in 1991 as a result of Operation Desert Storm.

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Monday, February 27, 2023:  

Global

·       The UN’s 52nd regular session of the Human Rights Council will be held in Geneva.  UN Secretary-General António Guterres will deliver remarks. 

·       Later in the afternoon, Secretary-General Guterres will deliver remarks at the Opening of the High-Level Pledging Event on the Humanitarian Crisis in Yemen. He will also hold a number of bilateral meetings throughout the day.   

·       The UN Security Council is scheduled to hold a briefing, followed by consultations, on the United Nations Support Mission in Libya (UNSMIL).

·       The 10th Annual World Ocean Summit & Expo begins in Lisbon, Portugal.

Americas

Political/Social Events –

·       NASA’s SpaceX Crew-6 mission is scheduled to launch from Kennedy Space Center in Florida.

·       The Dominican Republic celebrates Independence Day.

Economic Reports/Events –

·       Federal Reserve Board Governor Philip Jefferson gives a virtual lecture at Harvard University Macroeconomics Course (Ec10) entitled “Recent Inflation and the Dual Mandate.”

·       US Durable Goods Orders (January), Pending Home Sales (January), Dallas Fed Manufacturing Index (February)

·       Canada Current Account (Q4)

·       Brazil IGP-M Inflation (February), BCB Focus Market Readout

·       Chile Unemployment (January)

·       Mexico Balance of Trade (January)

·       Argentina Retail Sales (December)

Asia

Political/Social Events –

·       Thailand will host the Cobra Gold Exercise 2023, a multinational military exercise involving more than 7,000 troops from 30 countries, including the US, Japan, and South Korea.

·       Thai Prime Minister Prayuth Chan-ocha's upstart Ruam Thai Sang Chart Party (United Thai Nation Party) will hold an event to officially welcome 30 defecting lawmakers into the party as general elections near.

Economic Reports/Events –

·       Bank of Japan Governor-candidate Kazuo Ueda appears at his confirmation hearing before the Upper House of the Japanese Diet.  He testified before the Lower House last week and is expected to be swiftly confirmed.

·       Japan Coincident Index (December), Leading Economic Index (December)

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

·       New Zealand Retail Sales (Q4), Company Gross Profits (Q4), Business Inventories (Q4)

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

·       Malaysia PPI (January)

Europe

Political/Social Events –

·       Russian Foreign Minister Sergey Lavrov will visit Azerbaijan through February 28th to discuss bilateral issues and the ongoing tensions between Azerbaijan and Armenia, which Russia is attempting to mediate.

·       Today is the ninth anniversary of Russia’s invasion of Crimea.

·       EU Foreign Policy Chief Josep Borrel will host Serbian President Aleksandar Vucic and Kosovo’s Prime Minister Albin Kurti in an attempt to normalize ties between the two nations.  Last week, EU officials warned Russia was meddling in the talks and attempting to derail them.

·       The EU Telecommunications, Transport, and Energy Ministers will informally meet in Brussels through February 28th.

·       British Medical Association strike ballot closes for NHS consultants to decide whether they will stage industrial action over pay levels.

·       UK’s PCS Driver and Vehicle Licensing Agency (DVLA) staff will strike as part of a national campaign over pay, pensions, job security, and redundancy term.

·       Madrid, Spain hosts the Mobile World Congress, the telecom industry's biggest annual gathering in the world.

·       Paris Fashion Week begins.

Economic Reports/Events –

·        European Central Bank Board Member Philip Lane gives a lecture on "Macro-Financial Stability in the EU: some lessons on the occasion of Fifty Years of Irish Membership of the EU" at an event organized by the Consulate General of Ireland and Goethe Universität in Frankfurt.

·       Bank of England Executive Director for Prudential Policy Victoria Saporta gives a speech on the interaction between financial regulation and competitiveness and growth. The speech will be at the BoE. The British Parliament is currently debating a Financial Services and Markets Bill that will redefine the PRA’s responsibilities. While the PRA’s primary objectives will not change, the PRA is very likely to be given a new secondary objective.

·       Eurozone Economic Sentiment (February), Industrial Sentiment (February), Selling Price Expectations (February), Services Sentiment (February), Consumer Confidence (February), Consumer Inflation Expectations (February), Loans to Households (January), Loans to Companies (January), M3 Money Supply (January)

·       Italy Business Confidence/Consumer Confidence (February)

·       France Unemployment Benefit Claims (January)

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Turkey Imports/Exports/Balance of Trade (January), Economic Confidence Index (February)

Africa

Political/Social Events –

·       South Africa’s naval exercises with Russia and China are scheduled to conclude.

Economic Reports/Events –

·       Nothing significant to report.

Tuesday, February 28, 2023:

Global

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

Americas

Political/Social Events –

·       U.S. Secretary of State Antony Blinken will visit Kazakhstan and Uzbekistan and participate in a meeting of the C5+1 format, which is comprised of the United States and the Central Asian states.

·       The US Supreme Court will hear oral arguments on the limits of President Biden’s Student-Loan forgiveness program.

·       The US Department of Commerce begins accepting applications for the first round of grants created by the CHIPS Act ($53 billion).  

Economic Reports/Events –

·       Chicago Federal Reserve Bank President & CEO Austan Goolsbee gives a speech at the Garatoni Center for Advance Manufacturing and Automation at an event hosted by Ivy Tech Community College in Goshen, IN.

·       US Goods Trade Balance (January), Retail Inventories/Wholesale Inventories (January), Redbook (February 25th ), S&P/Case-Shiller Home Price Index (December), Chicago PMI (February), CB Consumer Confidence (February), Richmond Fed Manufacturing Index (February), Richmond Fed Services Index (February), Dallas Fed Services Index (February),

·       Canada GDP (Q4)

·       Brazil Unemployment (December)

·       Chile Copper Production (January), Industrial Production (January), Manufacturing Production (January), Retail Sales (January)

·       Colombia Unemployment (January), Cement Production (January)

·       Uruguay Current Account (January), Balance of Trade (January)

Asia

Political/Social Events –

·       Pakistan expects to sign an agreement with the IMF for a $7 billion loan.

·       Taiwan celebrates Peace Memorial Day, a national holiday. 

Economic Reports/Events –

·       The two candidates for Deputy Governors of Japan’s Central Bank, Ryozo Himino and Shinichi Uchida, will testify at their confirmation hearing before the Upper House of the Japanese Diet.  Both testified at a confirmation hearing before the Lower House last week and are expected to be confirmed quickly.

·       Japan Retail Sales (January), Industrial Production (January), Housing Starts (January), Construction Orders (January)

·       India GDP (Q4), Government Budget Value (January), Infrastructure Output (January)

·       New Zealand Business Confidence (February), Building Permits (January)

·       Australia Housing Credit (January), Retail Sales (January), Private Sector Credit (January), Current Account (Q4), CoreLogic Dwelling Prices (February), Ai Group Industry Index (February), Judo Bank Manufacturing PMI (February)

·       Singapore bank Lending (January), Balance of Trade (February), Import Prices/Export Prices (January), PPI (January)

·       Vietnam Balance of Trade(February), Industrial Production (February), Inflation (February),  Retail Sales (February), Tourist Arrivals (February), FDI (February)

·       Indonesia M2 Money Supply (January)

·       Philippines Budget Balance (December)

·       Thailand Industrial Production (January), Current Account (January), Private Consumption (January), Private Investment (January), Coincident Report (January), Retail Sales (December)

·       Sri Lanka Inflation (February)

Europe

Political/Social Events –

·       The Finnish Parliament is expected to vote to approve Finland becoming a member of NATO.

·       German Bundestag (parliament) commissioner for the armed forces, Eva Högl, will present the 2022 annual report on the state of the Bundeswehr (armed forces), which is traditionally also published in English on the German parliament’s website (here).  The report will be seen as a benchmark of how far and how fast the German military has grown and improved in the wake of Russia’s invasion of Ukraine.

·       In Scotland and in northern England, teachers will go on strike.

·       In the UK, Amazon UK warehouse workers will go on strike.

·       Cyprus celebrates Green Day, a national holiday.

Economic Reports/Events –

·       Germany Bundesbank Annual Report, Import Prices (January)

·       France Inflation Rate (February), GDP (Q4)

·       Spain Inflation (February), Current Account)

·       Switzerland KOF Leading Indicators (February), GDP (Q4)

·       Italy Industrial Sales (December)

·       Poland GDP (Q4)

·       Russia M2 Money Supply (January)

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Turkey GDP (Q4)

·       Saudi Arabia Private Bank Lending (January), M2 & M3 Money Supply (January)

·       Qatar Balance of Trade (January)

·       Egypt M2 Money Supply (January)

·       Kuwait Private Bank Lending (January), M2 Money Supply (January)

Africa

Political/Social Events –

·       Ugandan President Yoweri Museveni makes a state visit to South Africa.

·       Deadline for negotiations between the government of Guinea and Chinese mining company Baowu over the Simandou iron ore mine.  This will be one of the largest iron ore mining operations in the world.  China is expected to build 235 bridges and tunnels that run up to 11 kilometers to support the project.  The project puts Australia iron-ore exports to China at risk as China seeks alternative supplies.

Economic Reports/Events –

·       South Africa Unemployment (Q4), Balance of Trade (January), Private Sector Credit (January), M3 Money Supply (January)

·       Nigeria FX Reserves (February)

·       Zimbabwe Inflation (February)

·       Kenya Inflation (February) 

Wednesday, March 1, 2023:

Global

·       The G-20 Foreign Ministers meet in New Delhi, India.  Russian Foreign Minister has confirmed his attendance despite the fact Russia’s invasion of Ukraine will be discussed, as well as food security and debt troubles in developing countries.  While there, the foreign ministers of Australia, India, Japan, and the US will hold a working breakfast of the Quad to confirm the Quad leaders meeting in May in Sydney, Australia.

·       In the Northern Hemisphere, today is the first day of meteorological spring.

Americas

Political/Social Events –

·       European Commissioner for Trade Valdis Dombrovskis will meet with U.S. Treasury Secretary Janet Yellen, U.S. Commerce Secretary Gina Raimondo, and U.S. Trade Representative Katherine Tai in Washington, D.C., to discuss the U.S. Inflation Reduction Act through March 3.

·       House Democrats will hold their annual strategy retreat in Baltimore through March 3rd.  President Biden is expected to speak to the caucus.  House Republicans are expected to hold their retreat in Orlando, Florida, on March 19-21.

·       The Grupo de Puebla (a gathering of progressive/left-wing parliamentarians and groups from Latin America and Spain) will be held in Buenos Aires, Argentina.  Argentine President Alberto Fernandez and Vice President Christina Kirchner will host and attend.

Economic Reports/Events –

·       US S&P Global Manufacturing PMI (February), ISM Manufacturing PMI/Manufacturing Employment/Manufacturing New Orders Figures (February), Construction Spending (January),  MBA 30-Year Mortgage Rate (Feb. 24), MBA Mortgage Market Index (Feb. 24)

·       Canada S&P Global Manufacturing PMI (February)

·       Brazil S&P Global Manufacturing PMI (February), Balance of Trade (February)

·       Chile IMACEC Economic Activity (January)

·       Mexico Business Confidence (February), S&P Global Manufacturing PMI (February)

·       Colombia Davivienda Manufacturing PMI (February)

·       Peru Inflation (February)

Asia

Political/Social Events –

·       Bank of Japan Policy Board Member Nakagawa appears before a hearing of the Japanese Diet.

·       South Korea celebrates Independence Movement Day.

·       Today is Yap Day in the Yap State, one of the four states that make up the Federated States of Micronesia.

Economic Reports/Events –

·       Bank of Japan Policy Board Member Nakagawa Junko speaks at a meeting with local leaders in Fukushima.

·       China NBS Manufacturing/Non-Manufacturing/General PMIs (February)

·       India S&P Global Manufacturing PMI (February)

·       Japan Jibun Bank Manufacturing PMI (February)

·       South Korea Imports/Exports/Balance Trade (February),

·       Australia GDP (Q4), Monthly CPI Indicator (January), Commodity Prices (February)

·       New Zealand Export Prices/Import Prices (Q4), Terms of Trade (Q4)

·       Indonesia S&P Global Manufacturing PMI (February), Inflation (February)

·       Malaysia S&P Global Manufacturing PMI (February)

·       Philippines S&P Global Manufacturing PMI (February)

·       Taiwan S&P Global Manufacturing PMI (February), Consumer Confidence (February)

·       Vietnam S&P Global Manufacturing PMI (February)

·       Thailand Business Confidence (February)

·       Pakistan Inflation (February), Wholesale Prices (February)

Europe

Political/Social Events –

·       French President Emmanuel Macron will begin a four-nation tour of Central African countries in an effort to counter growing Chinese and Russian influence.  He will visit Gabon to attend the One Forest Summit.  He will then travel to Angola, the Republic of Congo, and finish the tour in the Democratic Republic of Congo. 

·       In the UK, the Royal College of Nursing is expected to go on a 48-hour non-stop strike over pay issues until March 3rd.

·       In the UK, teachers in the Midlands and east of England will go on strike.

Economic Reports/Events –

·       Bank of England Governor Andrew Bailey gives a speech at the Cost-of-Living Crisis Conference in London.

·       Eurozone S&P Global Manufacturing PMI (February)

·       Germany S&P Global Manufacturing PMI (February), Unemployment (February), Inflation (February)

·       France S&P Global Manufacturing PMI (February), New Car Sales (February)

·       UK BoE Consumer Credit (January), Mortgage Lending (January), S&P Global/SIPS Manufacturing PMI (February), Net Lending to Individuals (January)

·       Italy Full-year GDP Growth (2023)

·       Switzerland Retail Sales (January), procure.ch Manufacturing PMI (February)

·       Poland S&P Global Manufacturing PMI (February)

·       Spain S&P Global Manufacturing PMI (February), New Car Sales (February)

·       Russia GDP (December & January), S&P Global Manufacturing PMI (February), Unemployment (January), Real Wages (December), Retail Sales (January), Business Confidence (February)

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Turkey Istanbul Chamber of Industry Manufacturing PMI (February)

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nigeria Stanbic IBTC Bank Nigeria PMI (February)

·       South Africa ABSA Manufacturing PMI (February), Total Vehicle Sales (February)

Thursday, March 2, 2023:

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Panama hosts the Our Ocean Conference in Panama City.

Economic Reports/Events –

·       Federal Reserve Board Governor Christopher Waller speaks virtually at the Mid-Size Bank Coalition of America event on the economic outlook.

·       US Unit Labor Costs (Q4), Nonfarm Productivity (Q4), Initial Jobless Claims (February 25),

·       Brazil GDP (Q4),  IPC-Fipe Inflation (February)

·       Mexico FX Reserves (January), Unemployment (January), Fiscal Balance (January)

·       Argentina Tax Revenue (February)

Asia

Political/Social Events –

·       India hosts the Raisina Dialogue, their flagship conference on geopolitics and geoeconomics.  The three-day conference – organized by the Ministry of External Affairs and the new Delhi-based Observer Research Foundation (a think tank), will feature a number of cabinet members, CEOs, and academics.

Economic Reports/Events –

·       Bank of Japan Policy Board Member Takata Hajime speaks at a meeting with local leaders in Kanagawa.

·       Japan Consumer Confidence (February), Capital Spending (Q4)

·       South Korea Industrial Production (January), Retail Sales (January), S&P Global Manufacturing PMI (February)

·       Hong Kong Retail Sales (January)

·       Philippines PPI (January)

·       Australia Building Permits (January), Private House Approvals (January), S&P Global Manufacturing PMI (February

·       Sri Lanka Central Bank Interest Rate Decision

Europe

Political/Social Events –

·       German Chancellor Olaf Scholz will give a government statement on Thursday on the topic “One Year of Zeitenwende — Strengthening Germany’s Security and Alliances, Continuing to Support Ukraine.” His speech will be followed by a debate lasting around 90 minutes. On February 27, 2022, Scholz spoke his most well-known sentence up to this point during his government statement after Russia’s invasion of Ukraine: “We are living through a watershed era. And that means that the world afterward will no longer be the same as the world before.”

·       EU President von der Leyen travels to Stockholm, Sweden, to meet with Swedish Prime Minister Ulf Kristersson.  She will then participate in a working dinner with Prime Minister Kristersson and the European Round Table of Industrialists (ERT).

·       Italian Prime Minister Giorgia Meloni will visit India for talks with Indian Prime Minister Narendra Modi.  More than 600 Italian companies have large operations in India.

·       Armenian Prime Minister Nikol Pashinyan will visit Germany to meet with high-ranking officials.  They will discuss bilateral trade issues and the ongoing tensions between Armenia and Azerbaijan.

·       The EU Competitiveness Council (Internal Market and Industry) will meet in Brussels to adopt resolutions on distance marketing of consumer financial services and data collection issues.

·       In the UK, teachers in London, Wales, and the south of England will go on strike.

Economic Reports/Events –

·       Bank of England Chief Economist Huw Pill will give a speech at Wales Week in London: 2023 economic outlook – a year of growth or survival?

·       European Central Bank Board Member Isabel Schnabel gives a speech at the Money Market Contact Group (MMCG) meeting in Frankfurt.

·       Eurozone Inflation (February), Unemployment (January), CPI Flash (February)

·       France Budget Balance (January)

·       UK Nationwide Housing Prices (February)

·       Spain Unemployment (February)

·       Italy Unemployment Rate (January), Inflation (February), CPI (February)

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

Turkey MPC Meeting Summary, FX Reserves (Feb 24), Exports/Imports/Balance of Trade (February)

Africa

Political/Social Events –

·       Ethiopia celebrates Adwa Victory Day, marking Ethiopia’s victory over Italy in 1896.

Economic Reports/Events –

·       Nothing significant to report. 

Friday, March 3, 2023:

Global

·       The UN Food and Agriculture Organization (FAO) releases the Food Price Index.

Americas

Political/Social Events –

·       German Chancellor Olaf Scholz is expected to visit President Biden in Washington, D.C.  It is expected they will primarily focus on additional aid to Ukraine as well as discuss the Inflation Reduction Act and its impact on the EU’s electric vehicle industry.

Economic Reports/Events –

·       Federal Reserve Board Governor Michelle W. Bowman speaks on a panel entitled “Design Issues for Central Bank Facilities in the Future” at the Chicago Booth Workshop on Market Dysfunction in Chicago.

·       Federal Reserve Bank of Atlanta President Raphael Bostic gives welcome remarks before the Racial Inequality Conference organized by the Laboratory for Aggregate Economics and Finance at the University of California-Santa Barbara and co-sponsored by the Federal Reserve Banks of Atlanta and Cleveland.

·       Federal Reserve Bank of Richmond President Thomas Barkin speaks in person on "What's Keeping Inflation Elevated?" before the Stanford Institute for Economic Policy Research (SIEPR) 2023 Economic Summit, in Stanford, California

·       US S&P Global Composite PMI (February), S&P Global Services PMI (February), ISM Non-Manufacturing PMIs (February), Total Vehicle Sales (February)

·       Canada Building Permits (January), Labor Productivity (Q4)

·       Brazil PPI (January), S&P Global Composite PMI (February), S&P Global Services PMI (February)

·       Colombia PPI (February), Exports (January)

Asia

Political/Social Events –

·       Australia’s Avalon International Air Show begins in Geelong, Victoria.

Economic Reports/Events –

·       China Caixin Services & Composite PMIs (February)

·       India S&P Global Composite PMI (February), S&P Global Services PMI (February), FX Reserves (February 24)

·       Japan Unemployment (January) CPIs (February), Jibun Bank Services & Bank Composite PMIs (February)

·       Singapore S&P Global PMI (February), Retail Sales (January)

·       Australia Judo Bank Services and Composite PMIs (February), Home Loans (January), Investment Lending for Homes (January)

·       Hong Kong S&P Global PMI (February)

·       Taiwan FX Reserves (February)

·       New Zealand ANZ Roy Morgan Consumer Confidence (February)

Europe

Political/Social Events –

·       Bulgaria celebrates Liberation Day, marking the day the Treaty of San Stefano was signed, recognizing Bulgaria as an independent state in 1879, freeing them from Ottoman control.

Economic Reports/Events –

·       European Central Bank Board Member Luis de Guindos gives remarks followed by Q&A at the Universitario de Estudios Financieros (CUNEF) in Madrid, Spain.

·       Bank of England’s Executive Director for Markets Andrew Hauser gives a speech at the Imitative on Global Markets.  He will give opening remarks at a workshop on markets dysfunction.

·       Eurozone S&P Global Composite PMI (February), S&P Global Services PMI (February), PPI (January)

·       Germany Exports/Imports/Balance of Trade (January), S&P Global Composite PMI (February), S&P Global Services PMI (February), New Car Registrations (February)

·       France Industrial Production (January), S&P Global Composite PMI (February), S&P Global Services PMI (February)

·       UK S&P Global/CIPS UK Services PMI (February), S&P Global/CIPS UK Composite PMI (February)

·       Spain S&P Global Composite PMI (February), S&P Global Services PMI (February), Tourist Arrivals (January)

·       Italy GDP (Q4), S&P Global Composite PMI (February), S&P Global Services PMI (February), New Car Registrations (February)

·       Russia S&P Global Composite PMI (February), S&P Global Services PMI (February), Vehicle Sales (February)

Middle East

Political/Social Events –

·       Dubai's Expo City will start hosting a Ramadan festival as the emirate tries to re-utilize its Expo 2020 facilities for permanent tourism.

Economic Reports/Events –

·       Turkey Inflation (January), PPI (February), CPI (February)

·       Lebanon GDP (February)

·       Egypt FX Reserves (February)

Africa:

Political/Social Events –

·       Malawi celebrates Martyrs’ Day, honoring their political heroes who gave their lives in the struggle against British colonialism.

Economic Reports/Events –

·       South Africa S&P Global PMI (February)

·       Kenya Stanbic Bank PMI (February)

·       Mozambique Standard Bank PMI (February) 

Saturday, March 4, 2023: 

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Colombia Inflation (February)

Asia

Political/Social Events –

·       China holds the National People’s Congress (NPC) in Beijing – a major event where major policy announcements and government appointments will be announced.  The meetings could last as long as two weeks.  Led by Premier Liqiang in his last public event, the agenda will cover China’s economic situation and growth targets for 2023.  The new Chinese Premier is expected to be announced, and it is likely to be Li Qiang, a member of the Politburo Standing Committee. Additionally, four Vice Premiers will be announced, including the Vice Premier, who will chair the Financial Stability and Development Committee. Also expected to be named will be the new People’s Bank of China Governor, the Finance Minister, and other major posts.  We expect on Sunday and Monday, the NPC will present The 2023 fiscal budget, and policy support priorities will be unveiled on Monday and on March 8th.  The new Foreign Minister, Qin Gang, is expected to hold his first press conference at the NPC.

·       The Asia Zero Emissions Community ministerial meeting hosted by the Ministry of Economy, Trade and Industry in Tokyo.

Economic Reports/Events –

·       Nothing significant to report.

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 –

·       Egypt S&P Global PMI (February)

·       Saudi Arabia Riyad Bank PMI (February)

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Sunday, March 5, 2023:

Global

·       Nothing significant to report.

Americas

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Europe

Political/Social Events –

·       Estonia holds parliamentary elections.

·       Today is the 70th anniversary of Joseph Stalin.

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.

Please let us know if you or a colleague would like to be added to our distribution list.