The Global Week Ahead
Big Moves Toward Ukrainian Peace Talks, The EU Seeks to Head Off A Trade War with the US, Germany Holds What Could Be Historic Elections, The Israeli-Hezbollah Cease-Fire Is Set to Expire, and Markets Look to the Release FOMC Minutes
February 16 - 23, 2025
It will be a big week geopolitically - potentially historic in several ways. First, there is rapid movement toward establishing a framework to begin peace negotiations with Russia over its war on Ukraine. President Trump is dispatching US Secretary of State Marco Rubio, National Security Advisor Mike Walz, and Special Envoy to the Middle East Steve Witkoff to Saudi Arabia Monday to meet with Russian counterparts. The meeting aims to begin setting up the parameters for a possible meeting between President Trump and Russian President Vladimir Putin in Saudi Arabia in the coming weeks to start negotiating a Ukrainian peace deal.
As Rubio/Walz/Witkoff meet in Riyadh with the Russians, Trump’s Special Envoy to Russia and Ukraine, retired US Army General Keith Kellogg, will meet with EU President Ursula von der Leyen and then NATO Secretary-General Mark Rutte on the peace effort.
As all this is taking place, French President Emmanual Macron will be convening an “emergency” meeting of EU leaders (leaders of Germany, Britain, Italy, Poland, Sapin, the Netherlands, and Denmark, as well as the NATO Secretary-General and the Presidents of the European Council and European Commission) to discuss what President Trump is doing and what they should be doing. UK Prime Minister Keir Starmer said this “is a once-in-a-generation moment for our national security.” All this being said, the two massive questions on the table are: What does Ukrainian President Volodymyr Zelensky think about what Trump is saying and doing? And what exactly is President Trump’s vision for a peace deal, and does it include Ukraine giving up the land Russia has seized? All in all, it appears Zelensky and Ukrainian concerns are being somewhat left to the side. Also, coordination between the US and NATO partners lags behind Trump’s lightning-speed efforts.
Meanwhile, in Washington, EU Trade Commissioner Maros Sefcovic is flying over to meet with Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer to urgently discuss how to avoid a looming US-EU trade war, which will be launched by President Trump’s promised reciprocal tariffs. Sefcovic is not scheduled at this point to meet with President Trump directly, but rumors abound that this might actually happen. Markets need to watch this trip closely.
Also happening in Europe this week, German voters head to the polls on Sunday to elect a new government. Christian Democrat Party Leader Fredrik Merz is on track to see his party win in the polls along with their Bavarian partners, the Christian Social Union (currently at 29.2%). The question is: Which other parties will they form a coalition with to avoid at all costs working with the ultra-far-right AfD Party, which is now currently in second place in the polls (21.3%)? Most Germans – indeed, most of Europe – are shocked and dismayed to see the AfD – which has repeatedly been shown to have a significant number of members who are Nazi sympathizers gain such an uptick in popularity. And that makes this election potentially historic as the Merz will likely have to go in with the Green Party and the left-of-center Social Democrats (SPD) led by current Chancellor Olaf Scholz.
Turning to the Middle East, Monday marks the grim milestone of the 500th day since the October 2023 Hamas attack on Israel, which killed more than 2,500 civilians and resulted in the taking of 251 hostages. While the Gaza cease-fire remains incredibly fragile, with sporadic attacks taking place, hope remains that the rest of the hostages will be released in the coming weeks. Meanwhile, on Wednesday, the cease-fire between Israel and Hezbollah is technically set to expire. However, most observers expect it to be extended. Israel is asking for a ten-day extension (until February 28) before they pull back the last of their troops from Southern Lebanon. Hezbollah is not likely to want to return to full-scale fighting, having been severely mauled by Israeli forces and having a large portion of its military leadership killed.
Looking at the global economic radar screen for the coming week, markets are keenly awaiting the release of the FMOC’s minutes on Wednesday to get a clearer sense of just how worried the Federal Reserve is about a resurgence of inflation and if there is any chance for further rate cuts this year.
In Asia, Japan releases Q4 GDP estimates, January CPI figures, and trade and machinery order data. Australia’s Reserve Bank meets on interest rates on Tuesday.
In Europe, the UK releases labor figures on Tuesday, inflation data on Wednesday, and consumer confidence on Friday. Germany releases the ZEW Survey on Tuesday, and we will see the Eurozone consumer confidence report on Thursday.
Below is what else we are watching closely in the coming week:
Sunday, February 16, 2025
Global
· Nothing significant to report.
Americas
Political/Social Events –
· US Secretary of State Marco Rubio visits Israel for meetings with Prime Minister Benjamin Netanyahu.
· Canadian Trade Minister Mary Ng leads a delegation of 220 representatives from 140 Canadian organizations on a trade mission to Australia as part of the Australia-Canada Economic Leadership Forum in Sydney.
Economic Reports/Events –
· Nothing significant to report.
Asia
Political/Social Events –
· North Korea has a national holiday celebrating the birth of former leader Kim Jon-il who died in 2011.
Economic Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· In Germany, Chancellor Olaf Scholz, his conservative challenger Friedrich Merz plus Alice Weidel of the AfD, and Robert Habeck from the Greens take part in a four-way TV debate on German channel RTL ahead of next week’s federal election
· Today is the first anniversary of Alexei Navalny’s murder in Russia.
Economic Reports/Events –
· Nothing significant to report.
Middle East
Political/Social Events –
· The 8th Indian Ocean Conference takes place in Oman.
Economic Reports/Events –
· Saudi Arabia Inflation Rate (January)/ Wholesale Prices (January)
Africa
Political/Social Events –
· The African Union Heads of State and Government Summit finishes.
Economic Reports/Events –
· Nothing significant to report.
Monday, February 17, 2025
Global
· The UN Security Council is scheduled to hold a briefing on threats to international peace and security focused on Ukraine.
Americas
Political/Social Events –
· US Secretary of State Marco Rubio, National Security Advisor Michael Walz, and President Trump’s Special Envoy to the Middle East Steve Witkoff will travel to Saudi Arabia for meetings with Russian envoys to lay the groundwork for negotiations seeking to end the war in Ukraine.
· EU Trade Commissioner Maros Sefcovic will travel to Washington for meetings with Commerce Secretary Howard Lutnick, US Trade Representative Jamieson Greer and White House National Economic Director Kevin Hassett in an effort to ward off possible trade tariffs on the EU.
· Today is President’s Day in the US, a national holiday. Financial markets and banks are closed. The US House of Representatives is out of session this week in honor of President’s Day. The US Senate is in session this week.
Economic Reports/Events –
· Federal Reserve Board Governor Michelle W. Bowman will give brief remarks on the economy and bank regulation at the American Bankers Association (ABA) Conference for Community Bankers, Phoenix, Arizona.
· Federal Reserve Board Governor Christopher J. Waller gives a speech on the economic outlook at the UNSW Macroeconomic Workshop, Sydney, Australia.
· Philadelphia Federal Reserve Bank President Patrick Harker speaks on the economic outlook before the Global Interdependence Center Central Banking Series Conference with the University of the Bahamas.
· Brazil IBC-BR Economic Activity (December)/ BCB Focus Market Readout
· Canada Housing Starts (January)/ Foreign Securities Purchases (December)
· Colombia GDP Growth Rate Q4/ ISE Economic Activity (December)
Asia
Political/Social Events –
· Chinese President Xi Jinping will chair a Tech Symposium with leading Chinese tech CEOs in Beijing in an effort to spur further growth in the sector.
· Malaysia will host the China Conference: Southeast Asia 2025 in Kuala Lumpur. Prime Minister Anwar Ibrahim will speak.
· Sri Lanka's three-month-old government will present its first national budget as the country faces pressure from the International Monetary Fund to reach a primary fiscal surplus of 2.3 % of GDP and a tax-to-GDP ratio of 14% by next year. The IMF's conditions are part of a $3 billion bailout to help the country recover from its 2022 economic meltdown.
· Vietnam’s Parliament is scheduled to vote on a series of major civil service reforms.
Economic Reports/Events –
· New Zealand Composite & Services NZ PCI (January)/ Visitor Arrivals (December)
· Japan GDP Growth Annualized Prel Q4/ GDP Price Index Q4/ Capacity Utilization (December)/ Industrial Production Final (December)/ Tertiary Industry Index (December)
· Singapore Non-Oil Exports (January)/ Balance of Trade (January)
· Thailand GDP Growth Rate Q4/ Full Year GDP Growth 2024
· Indonesia Imports/ Exports/ Balance of Trade (January)
· Kazakhstan Current Account Q4
· Philippines Cash Remittances (December)
· China Vehicle Sales (January)
· India Imports/ Exports/ Balance of Trade (January)
· Sri Lanka PPI (December)/ Manufacturing PMI (January)/ Services PMI (January)
Europe
Political/Social Events –
· European heads of state gather in Paris for an emergency meeting to discuss and potentially agree on a common proposal to resolve the Ukraine War. The meeting is being convened in response to President Trump’s fast-moving effort to meet with Russian President Putin to discuss Trump’s proposal to end the war.
· EU President Ursula von der Leyen will meet with General Keith Kellogg (ret.), the US Special Presidential Envoy for Ukraine and Russia in Brussels. Kellogg will also meet with NATO Secretary-General Mark Rutte in Brussels to discuss President Trump’s peace plan for Ukraine.
· The Eurogroup meets in Brussels to discuss the state of convergence in Bulgaria, the macroeconomic outlook for the Euro area, and the work program for the group up to July 2025. European Central Bank President Christine Lagarde will participate.
· Russian Foreign Minister Sergei Lavrov hosts Serbia's Foreign Minister Marko Duric for meetings in Moscow.
· Romania’s far-right opposition parties are expected to submit a no-confidence vote for Prime Minister Marcel Ciolacu’s government.
· There will be an informal meeting of the EU General Affairs Council in Brussels through February 18.
· The US Army Europe and Africa will hold its biennial exercise in the Arctic called Arctic Forge 25.
Economic Reports/Events –
· Slovakia Inflation Rate (January)
· Italy Balance of Trade (December)
· Spain Balance of Trade (December)
· Euro Area Balance of Trade (December)/ European Commission Winter Forecasts/ ECOFIN Meeting
· Germany Bundesbank Nagel Speech
· Ireland Balance of Trade (December)
· Belarus Industrial Production (January)
· Turkey Auto Production (January)/ Auto Sales (January)/ Budget Balance (January)
Middle East
Political/Social Events –
· Today is the 500th day anniversary of Hamas’ attack on Israel and the taking of hostages.
· Today is February 17th, Revolution Day, a national holiday celebrating when the people of Libya threw off the rule of Colonel Muammar Gaddafi’s 40 years of rule.
Economic Reports/Events –
· Israel GDP Growth Annualized 1st Est Q4/ Unemployment Rate (January)
· Jordan Industrial Production (December)
Africa
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Angola Foreign Exchange Reserves (January)/ M3 Money Supply (January)
· Egypt Unemployment Rate Q4
· Nigeria Food Inflation (January)/ Inflation Rate (January)
Tuesday, February 18, 2025
Global
· The World Trade Organization begins a two-day council meeting in Geneva.
· The UN Security Council is scheduled to hold an open debate on the maintenance of international peace and security: Practicing multilateralism, reforming and improving global governance. China’s Foreign Minister Wang Yi will chair the meeting.
Americas
Political/Social Events –
· Brazilian President Lula da Silva hosts Portuguese President Marcelo Rebelo de Sousa in Sao Paulo.
· Bermuda holds elections for its House of Assembly.
Economic Reports/Events –
· Federal Reserve Board Vice Chair Michael Barr will give a speech on Artificial Intelligence and Financial Stability at the Council on Foreign Relations in New York.
· San Francisco Federal Reserve Bank President Mary Daly speaks and participates in a moderated discussion before the 2025 Conference for Community Bankers hosted by the American Bankers Association.
· Canada Inflation Rate (January)/ CPI Median (January)/ CPI Trimmed-Mean (January)
· USA NY Empire State Manufacturing Index (February)/ NAHB Housing Market Index (February)/ NOPA Crush Report/ Net Long-term TIC Flows (December)/ Foreign Bond Investment (December)/ Overall Net Capital Flows (December)
· Argentina Balance of Trade (January)
Asia
Political/Social Events –
· The Director General of the International Atomic Energy Agency, Rafael Grossi, begins a three-day visit to Japan to review the country’s nuclear power plants.
· South Korea's constitutional court continues hearings this week on whether President Yoon Suk Yeol should be removed from office over his short-lived martial law order in December. That ruling is expected early next month. On Thursday, a Seoul district court will begin Yoon's criminal trial on insurrection charges.
· Singapore’s Prime Minister and Finance Minister, Lawrence Wong, delivers the government's 2025 budget in a critical election year. As a key step in preparing for the city-state's general election due by November, observers are expecting new policies and generous support measures aimed at tackling the most pressing voter concerns, such as rising living costs.
Economic Reports/Events –
· Australia RBA Interest Rate Decision/ RBA Press Conference
· Hong Kong Unemployment Rate (January)
· New Zealand Global Dairy Trade Price Index (February/18)
Europe
Political/Social Events –
· Th EU Economic and Financial Affairs Council meets in Brussels. Ministers will discuss EU competitiveness and improving the business environment, the situation in Ukraine, the EU budget for 2026, and the economic governance framework.
· France’s upper House of Parliament is expected to debate and vote on the highly controversial 2025 Social Security budget.
· Today is the inauguration of President Zoran Milanovic in Croatia.
Economic Reports/Events –
· Bank of England Governor Andrew Bailey has a “fireside chat” in Brussels with Jeromin Zettelmeyer, director of Belgian think-tank Bruegel, on “preserving and enhancing open financial markets.”
· European Central Bank Executive Board Member Piero Cipollone will participate in a livestreamed MNI Connect video conference “The ECB's Balance Sheet Policies and Implications in the Current Economic Context”.
· Great Britain Unemployment Rate (December)/ Employment Change (December)/ HMRC Payrolls Change (January)/ Claimant Count Change (January/Labour Productivity Final Q3
· Switzerland Industrial Production Q4
· France Inflation Rate Final (January)
· Euro Area ZEW Economic Sentiment Index (February)
· Germany ZEW Economic Sentiment Index (February)/ ZEW Current Conditions (February)
· Belarus GDP (January)
Middle East
Political/Social Events –
· The Israel-Hezbollah ceasefire agreement expires unless extended. The initial deal, brokered by the US and France, began in November and halted nearly 14 months of conflict by requiring both sides to withdraw from southern Lebanon.
Economic Reports/Events –
· Oman M2 Money Supply (December)/ Total Credit (December)
· Qatar Inflation Rate (January)
Africa
Political/Social Events –
· Today is Gambia Independence Day, a national holiday.
Economic Reports/Events –
· South Africa Unemployment Rate Q4/ Unemployed Persons Q4/ Annual Budget Speech
· Nigeria Interest Rate Decision
· Angola Wholesale Prices (December)
Wednesday, February 19, 2025
Global
· The UN Security Council is scheduled to hold a briefing on the United Nations Support Mission in Libya (UNSMIL) and Libya sanctions. This will be followed by consultations.
Americas
Political/Social Events –
· Saudi Arabia's sovereign wealth fund will host the third FII Priority Summit in Miami Beach, United States, through Feb. 21, and U.S. President Donald Trump is expected to attend and speak.
· The Caricom Meeting of the Conference of Heads of Government of the Caribbean Community meet in Barbados.
· The US Senate’s Health, Education, Labor, and Pensions Committee will hold a confirmation hearing for Department of Labor nominee Lori Chavez-DeRemer.
· The Conservative Political Action Conference (CPAC) begins in Washington, D.C. and runs through Saturday.
Economic Reports/Events –
· Federal Reserve Board Vice Chair Philip N. Jefferson gives a speech entitled “Household Balance Sheets” at the Martin H. Crego Lecture in Economics, Vassar College, Poughkeepsie, New York.
· US Federal Reserve Board Open Market Committee Minutes are released.
· USA MBA Mortgage Market Index (February/14)/ Housing Starts (January)/ Redbook (February/15)/ NY Fed Treasury Purchases 22.5 to 30 yrs/ API Crude Oil Stock Change (February/14
· Brazil Business Confidence (February)
· Argentina Leading Indicator (January)
Asia
Political/Social Events –
· Vietnam’s Parliament vote on proposed rail line to China.
Economic Reports/Events –
· Bank of Japan Member of the Policy Board member Jajimi Takata gives a speech to local business leaders in Miyagi, Japan.
· New Zealand PPI Input & Output Q4/ RBNZ Interest Rate Decision/ RBNZ Press Conference
· Japan Imports/ Exports/ Balance of Trade (January)/ Machinery Orders (December)
· Australia Westpac Leading Index (January)/ RBA Chart Pack/ Wage Price Index Q4
· China House Price Index (January)
· Indonesia Loan Growth (January)/ Interest Rate Decision/ Lending & Deposit Facility Rate (February)
· India M3 Money Supply (February/07)
Europe
Political/Social Events –
· The European Commission will present its “vision” for agriculture.
· Russian Foreign Minister Sergey Lavrov will give an annual speech at Russia's State Duma on Russia's foreign policy priorities.
· The French Parliament will examine a no-confidence motion against Prime Minister Francois Bayrou tabled by the center-left Socialist Party for his recent controversial remarks on immigration.
Economic Reports/Events –
· Bank of England Executive Director for Payments Victoria Cleland speaks on a panel at the Currency Research Central Bank Payments summit in Paris on “what can be the next game changer.”
· Great Britain Inflation Rate (January)/ PPI Output & Input (January)/ Retail Price Index (January)
· Euro Area ECB Non-Monetary Policy Meeting/ Current Account (December)
· Italy Current Account (December)
· Ireland Residential Property Prices (December)
· Serbia Inflation Rate (January)/ Current Account (December)
· Russia PPI (January)
· Spain Consumer Confidence (January)
Middle East
Political/Social Events –
· The leaders of five Arab countries hold a summit on Donald Trump's Gaza plan in Cairo. The leaders of Egypt, Qatar, the UAE, and Jordan will attend. Palestinian President Mahmud Abbas is rumored to be attending, too.
Economic Reports/Events –
· Oman Inflation Rate (January)
· Israel Inflation Expectations (February)
Africa
Political/Social Events –
· South African Finance Minister Enoch Godongwana presents the annual national budget to parliament.
· Nothing significant to report.
Economic Reports/Events –
· South Africa Inflation Rate (January)/ Retail Sales (December)
Thursday, February 20, 2025
Global
· G20 Foreign Ministers will gather in Johannesburg, South Africa, to meet. US Secretary of State Marco Rubio is expected to skip the meeting. Chinese Foreign Minister Wang Yi and Russia's Sergei Lavrov will be there.
· The UN Security Council is scheduled to hold a briefing on the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA), followed by consultations.
Americas
Political/Social Events –
· U.S. Special Envoy for Ukraine and Russia Lt. Gen. Keith Kellogg will visit Kyiv, Ukraine, for meetings regarding the Russia-Ukraine war and President Trump’s efforts to start peace talks.
· The US Senate’s Health, Education, Labor, and Pensions Committee will hold a confirmation hearing for Linda McMahon to be Secretary of Education.
Economic Reports/Events –
· Federal Reserve Board Vice Chair for Supervision Michael Barr gives a speech on supervision and regulation at the Georgetown University Law Center in Washington, D.C.
· Federal Reserve Board Governor Adriana Kugler gives a speech entitled “Navigating Inflation Waves While Riding on the Phillips Curve” at the 2025 Whittington Lecture, McCourt School of Public Policy, Georgetown University, Washington, D.C.
· St. Louis Federal Reserve Bank President Alberto Musalem speaks and participates in a moderated conversation on the U.S. economy and monetary policy before the Economic Club of New York.
· Chicago Federal Reserve Bank President Austan Goolsbee participates in a moderated question-and-answer session before the Chicagoland Chamber Mid-Market Chicago event.
· Mexico Retail Sales (December)/ Monetary Policy Meeting Minutes
· Canada New Housing Price Index (January)/ PPI (January)/ Raw Materials Prices (January)
· USA Initial Jobless Claims (February/15)/ Philadelphia Fed Manufacturing Index (February)/ Philly Fed CAPEX Index (February)/ CB Leading Index (January)/ EIA Natural Gas Stocks Change (February/14)/ EIA Crude Oil & Gasoline Stocks Change (February/14)/ 15- & 30-Year Mortgage Rate (February/20)/Fed Balance Sheet (February/19)
· Argentina Consumer Confidence (February)
· Colombia Cement Production (December)
· El Salvador Balance of Trade (January)
Asia
Political/Social Events –
· The Halifax International Security Forum starts a two-day conference in Taipei. It is the first time the Forum has been held in Taiwan, and the conference's theme is to "highlight Taiwan's thriving democracy for global leaders," with a series of on- and off-the-record discussions.
Economic Reports/Events –
· South Korea Consumer Confidence (February)/ PPI (January)
· Japan Foreign Bond Investment (February/15)/ Stock Investment by Foreigners (February/15)
· Australia Unemployment Rate (January)/ Participation Rate (January)
· China Loan Prime Rate 1Y & 5Y (February)
· Indonesia Current Account Q4/ M2 Money Supply (January)
· Malaysia Imports/ Exports/ Balance of Trade (January)
· Taiwan Export Orders (January)/ Current Account Q4
· Hong Kong Inflation Rate (January)
Europe
Political/Social Events –
· Ukraine Foreign Minister Andriy Sybiga is due to address the IISS-Asia strategic think tank in Singapore (the Shangri La Conference).
· Hungarian Prime Minister Viktor Orban gives the annual State of the Nation speech.
Economic Reports/Events –
· Sasha Mills, executive director of financial market infrastructure at the Bank of England, speaks at the UK T+1 Accelerated Settlement Market event hosted by KPMG in London.
· Germany PPI (January)/ Bundesbank Nagel Speech
· Switzerland Balance of Trade (January)
· Turkey Consumer Confidence (February)/ Foreign Exchange Reserves (February/14)/ Central Government Debt (January)
· Greece Current Account (December)
· Italy Construction Output (December)
· Poland Corporate Sector Wages (January)/ Employment Growth (January)/ Industrial Production (January)/ PPI (January)
· Slovenia Consumer Confidence (February)
· Ireland Inflation Rate (January)
· Euro Area Construction Output (December)/ Consumer Confidence Flash (February)
· Great Britain CBI Industrial Trends Orders (February)/ Gfk Consumer Confidence (February)
· Slovakia Current Account (December)/ Unemployment Rate (January)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Kuwait Inflation Rate (January)
· Qatar M2 Money Supply (January)/ Total Credit Growth (January)
Africa
Political/Social Events –
· The French Army will officially hand over control of their military base in Abidjan, Ivory Coast – one of France’s last outposts in Africa.
Economic Reports/Events –
· South Africa Building Permits (December)
· Ivory Coast Inflation Rate (December)/ Inflation Rate (January)
· Mozambique GDP Growth Rate Q4
· Egypt Interest Rate Decision/ Overnight Lending Rate
Friday, February 21, 2025
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Federal Reserve Vice Chair Philip N. Jefferson gives a speech on Central Bank Communication at the Macroeconomics and Monetary Policy Conference, Federal Reserve Bank of San Francisco, San Francisco, California.
· Mexico GDP Growth Rate Final Q4/ Economic Activity (December)
· Canada Retail Sales (December)/ Retail Sales Final (December)/ BoC Gov Macklem Speech
· USA S&P Global Composite/ Services/ Manufacturing PMI Flash (February)/ Existing Home Sales (January)/ Michigan Consumer Sentiment Final (February)/Baker Hughes Oil Rig Count (February/21)
· Paraguay Interest Rate Decision
· Brazil Federal Tax Revenues (January)
· Costa Rica Balance of Trade (January)
· Peru GDP Growth Rate Q4
Asia
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· South Korea Business Confidence (February)
· New Zealand Imports/ Exports/ Balance of Trade (January)
· Australia S&P Global Australia Composite/ Services/ Manufacturing PMI (February)
· Japan Reuters Tankan Index (February)/ Inflation Rate (January)/ Jibun Bank Composite/ Services/ Manufacturing PMI Flash (February)
· Malaysia Inflation Rate (January)
· India HSBC Composite/ Services/ Manufacturing PMI Flash (February)/ Monetary Policy Meeting Minutes/ Foreign Exchange Reserves (February/14)
· China FDI (YTD) (January)
Europe
Political/Social Events –
· EU President Ursula von der Leyen will meet with Romanian Prime Minister Marcel Ciolacu.
Economic Reports/Events –
· European Central Bank Executive Board Member Philip R. Lane will give a keynote speech at the FIW-Research Conference on International Economics in Vienna, Austria.
· Great Britain Retail Sales (January)/ Public Sector Net Borrowing Ex Banks (January)/ Retail Sales ex Fuel (January)/ S&P Global Composite/ Services/ Manufacturing PMI Flash (February)
· France Business Confidence (February)/ Business Climate Indicator (February)/ HCOB Composite/ Services/ Manufacturing PMI Flash (February)
· Turkey Tourist Arrivals (January)
· Germany HCOB Composite/ Services/ Manufacturing PMI Flash (February)
· Euro Area HCOB Composite/ Services/ Manufacturing PMI Flash (February)
· Italy Inflation Rate Final (January)
· Ireland Wholesale Prices (January)
· Serbia PPI (January)
· Slovenia Unemployment Rate (December)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Israel Manufacturing PMI (January)
Africa
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Nigeria GDP Growth Rate Q4
Saturday, February 22, 2025
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Today is Independence Day in St. Lucia, a national holiday.
Economic Reports/Events –
· Nothing significant to report.
Asia
Political/Social Events –
· Japan's Defense Minister Gen Nakatani visits the Philippines for talks with his Filipino counterpart, Gilbert Teodoro, including about an intelligence-sharing agreement. The move follows Tokyo's supply of air defense radar equipment to Manila in 2023, and forms part of an effort to strengthen defense collaboration with like-minded countries around China.
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 –
· Today is the Day of Fraternity and Cohesion Day in Algeria, a national holiday celebrating the revolution in 2019, throwing off the autocratic reign of power of President Abdelaziz Bouteflika.
Economic Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Nothing significant to report.
Sunday, February 23, 2025
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Today is Guyana Republic Day, a national holiday.
Economic Reports/Events –
· Nothing significant to report.
Asia
Political/Social Events –
· Today is Japanese Emperor Naruhito’s 65th birthday.
· Today is National Day in Brunei, a public holiday.
Economic Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· Germany holds parliamentary elections that will determine the new leadership of the country. Christian Social Union leader Fredrik Mertz is seen as the likely next Chancellor. But it is unclear what sort of coalition he will after form to avoid the surging ultra-rightwing AfD Party.
· Russia celebrates Defender of the Fatherland Day, otherwise known in Russia as Men’s Day, aimed at honoring men who serve in the armed forces.
Economic Reports/Events –
· Nothing significant to report.
Middle East
Political/Social Events –
· Hezbollah's former Secretary General Sheikh Hassan Nasrallah will be buried in Lebanon.
Economic Reports/Events –
· Israel Manufacturing Production (December)
Africa
Political/Social Events –
· Nothing significant to report.
Economic Reports/Events –
· Nothing significant to report.