Fulcrum Perspectives

An interactive blog sharing the Fulcrum team's policy updates and analysis, as well as book recommendations, travel observations, and cultural experiences - all of which we hope will be of interest to you.

Francis Kelly Francis Kelly

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:

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:

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:

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.

 

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Francis Kelly Francis Kelly

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:

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:

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:

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)

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Francis Kelly Francis Kelly

Global Calendar May 22 - 29, 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, global government and business leaders gather again for the first time in more than two years in Davos, Switzerland for the World Economic Forum.  President Biden continues his tour of Asia with Quad leadership meetings in Tokyo.  Also this week, the UN’s Human Rights Chief makes a closely watched visit to China to discuss various human rights issues but the repression of Muslim minorities in the Xinjiang province.   

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

Sunday, May 22, 2022:

Political/Social Events:

 Economic Reports/Events:

  • Nothing significant to report.

  

Monday, May 23, 2022:

Political/Social Events:

  • UN Human Rights Chief Bachelet visits China for high-level meetings on human rights issues in the Xinjiang province and treatment of Muslim minorities.

  • Eurogroup Working Group meeting, in Brussels to discuss fiscal development in the Euro area as well as EC Spring Forecast.

  • EU General Affairs Council meeting in Brussels to discuss Hungary.

  • European Economic Area Council meeting in Brussels to discuss reducing strategic dependencies in the fields of raw materials and energy.

Economic Reports/Events:

Americas:

  • US Chicago Fed National Activity Index (Apr);

  • Brazil Central Bank Focus Market Readout; IBC-Br Economic Activity (Mar)

Asia:

  • South Korea Consumer Confidence (May)

  • Australia S&P Global PMIs (May)

Europe:

  • Germany ifo Business Climate/Conditions/Expectations figures (May); Bundesbank Monthly Report

Middle East:

  • Turkey Business Confidence (May), Capacity Utilization (May)

Africa:

  • African Development Bank Annual Summit starts in Ghana.

  

Tuesday, May 24, 2022:

Political/Social Events:

  • The Collective Security Treaty Organization (CSTO) will meet in Moscow to discuss possibly establishing a joint radiological/chemical/Biological defense unit.  The CSTO is made up of Russia, Belarus, Kazakhstan, Armenia, Kyrgyzstan, and Tajikistan.

  • EU Agricultural and Fisheries Council meets in Brussels to discuss spread of highly pathogenic avian flu.

  • EU Economic and Financial Affairs Council meets in Brussels to implications of sanctions imposed on Russia.

Economic Reports/Events:

Americas:

  • US Federal Reserve Board Chair Powell speaks at National Center for American Indian Enterprise Development 20222 Reservation Economic Summit (pre-recorded video)

  • US Redbook (May); PMIs (May); New Home Sales (Apr); Richmond Red Manufacturing Index (May); API Crude Oil Stock Change (May)

  • Mexico inflation rate figures (May)

  • Brazil IPCA mid-month CPIs (May)

  • Canada Manufacturing Sales (Apr);  Wholesale Sales (Apr)

  • Argentina Retails Sales (Mar)

Asia:

  • Japan Jibun Bank PMIs (May)

  • South Korea Business Confidence (May)

  • Indonesia central bank interest rate decision

Europe:

  • ECB President Lagarde speech

  • France Business Confidence (May), Business Climate Indicator (May); S&P PMIs (May)

  • Germany S&P PMIs (May)

  • Eurozone S&P PMIs (May)

  • UK S&P/CIPS PMIs (May)

Middle East:

  • No significant reports.

Africa:

  • South Africa Leading Business Cycle Indicator (Mar); SACCI Business Confidence (Apr)

  • Ghana central bank interest rate decision

  • Nigeria central bank interest rate decision; GDP Q1

  

Wednesday, May 25, 2022:

Political/Social Events:

  • Turkey’s President Recep Tayyip Erdogan meets with UN Secretary General Antonio Guterres in Ankara, Turkey to discuss regional security issues and Russia’s invasion of Ukraine.

  • G-& Environmental Ministers Meeting, Berlin, Germany.

Economic Reports/Events:

Americas:

  • US Federal Reserve Board Vice Chair Brainard speech; Fed Board Minutes released.

  • US MBA Mortgage Applications/Mortgage Rate/Mortgage Refinance (May); Durable Goods Orders (Apr)

  • Brazil Consumer Confidence (May); Current Account (Apr)

  • Mexico Balance of Trade (Apr); GDP (Q1); Economic Activity (Mar); Current Account (Q1);

Asia:

  • Japan Leading Economic Index (Mar); Coincident Index (Mar)

Europe:

  • ECB President Lagarde speech.

  • Germany GfK Consumer Confidence (Jun); GDP Growth (Q1)

  • France Consumer Confidence (May); Unemployment figures (Apr)

  • Spain PPIs (Apr)

  • Russia’s PPIs (Apr)

Middle East:

  • Saudi Arabia Balance of Trade

Africa:

  • Nothing significant to report.

 

Thursday, May 26, 2022:

Political/Social Events:

  • The International Charlemagne Award for European Unity is presented in Aachen, Germany.

  • Australia holds “Sorry Day” commerating the forced removal of Aborignial children from their parents.

Economic Reports/Events:

Americas:

  • US GDP figures (Q1), Jobless Claims (May); Core PCE Prices (Q1); Real Consumer Spending (Q1); Pending Home Sales (Apr); Kansas Fed Manufacturing Index (May), Kansas Fed Composite Index (May)

  • Canada Retail Sales (Mar)

  • Mexico Retail Sales (Mar); Monetary Policy Meeting Minutes

  • Brazil Payrolls (Apr)

Asia:

  • Japan CPI ex-Food and Energy (May); CPIs (May)

  • South Korean central bank interest rate decision.

  • Australia Building Capital Expenditures (Q1)

Europe:

  • Italy Business confidence (May), Consumer Confidence (May) Industrial Sales (Mar)

Middle East:

  • Turkey Economic Confidence Index (May); FX Reserves (May), Central Bank Monetary Policy Committee meetings re: rates.

Africa:

  • South Africa PPIs (Apr)

Friday, May 27, 2022:

Political/Social Events:

  • NATO Parliamentary Assembly begins annual spring session in Vilnius, Lithuania.

Economic Reports/Events:

Americas:

  • US Personal Spending/Personal Income figures (Apr); PCE Price Index (Apr); Goods Trade Balance (Apr); Wholesale Inventories (Apr); Retail Inventories (Apr); Michigan Consumer Sentiment Expectations (May)

  • Canada CFIB Business Barameter (May); Budget Balance (Mar)

  • Argentina Consumer Confidence (May)

  • Brazil Federal Tax Revenues (Apr)

Asia:

  • China Industrial Profits (Apr)

  • India FX Reserves (May)

  • Australia Retail Sales (Apr)

Europe:

  • Spain Retail Sales (Apr)

  • Eurozone Loan Household and Companies data (Apr)

Middle East:

  • Turkey Financial Stability Report

Africa:

  • South Africa PPIs

  • Zambia inflation figures, trade balance (Apr)

 

Saturday, May 28, 2022:

Political/Social Events:

  • Nothing significant to report at this time.

Economic Reports/Events:

  • Nothing significant to report.

 

Sunday, May 29, 2022:

Political/Social Events:

  • Colombia holds first round of its presidential election.

  • Eurogroup Working Group meeting, Brussels

Economic Reports/Events:

  • Nothing significant to report.

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Francis Kelly Francis Kelly

Global Calendar April 11 - 17, 2022

Monday, April 11, 2022

Political/Social Events –

Economic Report/Events –

  • China consumer price index (CPI), producer price index (PPI) data (Mar)

  • Czech Republic CPI data (Mar)

  • Japan PPI figures (Mar), machine tool orders Bank of Japan holds its quarterly branch managers’ meeting with opening remarks delivered by governor Haruhiko Kuroda

  • UK GDP (Mar) estimate, trade figures, construction output data

  • South Africa manufacturing production (Feb)

  • Malaysia industrial production (Feb), manufacturing sales (Feb)

Tuesday, April 12, 2022

Political/Social Events –

  • EU Affairs ministers meet in Luxembourg

  • United Nations Security Council to discuss Colombia as Colombian President Duque addresses the body

  • Ukrainian President Zelensky to address the Lithuanian parliament

Economic Reports/Events –

  • European CentralBank’s Q1 euro area bank lending survey

  • France trade figures(Feb)

  • Germany CPI data(Mar)

  • Eurozone ZEW economic sentiment survey

  • India industrial production figures (Feb), March CPI data (Mar)

  • OPEC’s monthly oil market report

  • UK labor market statistics

  • US CPI data (Mar)

Wednesday, April 13, 2022

Political/Social Events –

  • Mexico’s lower House of Congress expected to vote on electricity sector reform

  • The US Senate Armed Services Committee is scheduled to hold a hearing on ballistic missile defense strategy and needs

Economic Reports/Events –

  • China trade balance (Mar)

  • Bank of Canada interest rate announcement

  • Eurozone industrial production data (Feb)

  • Italy industrial production figures (Feb)

  • Reserve Bank of New Zealand monetary policy meeting

  • UK CPI (Mar) and retail price index (RPI) data

  • US PPI (Mar)

  • South Africa retail sales (Feb)

  • Namibia’s Central Bank interest rate decision

  • Ghana inflation (Mar)

 

Thursday, April 14, 2022

Political/Social Events –

  • Russian President Putin expected to meet with the lower house of Parliament (Duma)

  • Kenyan United Democratic Alliance to hold primary before Kenya’s August 2022 general election

  • The Sikh festival of Vaisakhi is celebrated, marking the Sikh New Year

  • North Korea observes the birth of the late North Korean Leader Kim Il Sung, father of current North Korean leader Kim Jun-Un

Economic Reports/Events –

  • European Central Bank’s monetary policy meeting/rate decision in Frankfurt

  • India trade statistics

  • Israel Q4 GDP figures

  • UK Q1 credit conditions and bank liabilities surveys

  • US March retail sales figures, Michigan Consumer Sentiment (Apr)

  • South Africa mining production (Feb), Trade conditions survey (Feb & Mar), Bloomberg Economic survey (Apr)

  • Nigeria inflation numbers (Mar)

  • Namibia inflation numbers (Mar)

  • Uganda Central Bank interest rate decision

  • Turkey Central Bank interest rate decision

  • Philippines overseas remittances (Feb)

  • Brazil current account (Feb)

Friday, April 15, 2022

Political/Social Events –

  • Passover observed

  • Good Friday observed

  • China expected to sell 500,000 tons of soybeans from national reserves

  • US deadline for individuals to file their tax returns

  • 110th anniversary of the sinking of the Titanic

Economic Reports/Events –

  • People’s Bank of China meeting

  • France CPI figures (Mar)

  • Italy CPI figures (Mar)

  • Poland CPI figures (Mar)

  • US, March industrial production figures, US Empire manufacturing index (Apr)

  • India trade balances (Mar)

  • China's new home prices (Mar)

  • European Central Bank Survey of Professional Forecasters 

Saturday, April 16, 2022

Political/Social Events –

Economic Reports/Events –

  • Nothing of significance

Sunday, April 17

Political/Social Events –

  • Easter Sunday Observed in Western Christian churches

Economic Reports/Events –

  • China’s GDP, retail sales (Mar), industrial production (Mar)

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Francis Kelly Francis Kelly

Global Events This Week

March 26 - April 3, 2022

This is Fulcrum Macro Advisors weekly calendar of key political and economic events we are watching in the coming week.  We hope this is helpful. Please let us know if you have any questions.

Saturday, March 26:

Political Events/Social Events –

Economic Events -

  • China February industrial profits

 

Sunday, March 27:

Political Events/Social Events –

Economic Events -

  • No significant reports/events to report.

 

Monday, March 28:

Political Events/Social Events –

Economic Events –

  • US reports goods trade balance (Feb), wholesale inventories (Feb), Retail inventories (Feb), Dallas Federal Reserve manufacturing index (Mar)

  • Brazil reports foreign direct investment, current account, Brazilian Central Bank Market Readout

  • Mexico reports balance of trade (Feb)

  • Argentina retail sales (Jan)

  • South Korea consumer confidence (Mar)

  • Japan unemployment rates, jobs/applications (Feb), Bank of Japan summary of opinions

  • Israel unemployment rates

Tuesday, March 29:

Political Events/Social Events–

Economic Events –

  • US S&P/Case-Schiller Home Price (Jan), House price index (Jan), JOLTS job openings and job quits (Feb), Conference Board’s consumer confidence (Mar), Dallas Fed Services Index (Mar)

  • UK Consumer credit, mortgage approvals, mortgage lending, net lending to individuals (all Feb)

  • Canada weekly earnings average

  • Germany CfK Consumer Confidence (Mar)

  • Australia retail sales (Feb)

  • Argentina economic activity (Jan), API crude oil stock change

  • Japan retail sales (Feb)

  • South Africa unemployment rate, SACCI Business Confidence (Mar & Feb)

  • Spain retail sales (Feb)

  • Kenyan Central Bank rate decision

 

Wednesday, March 30:

 Political Events –

Economic Events –

  • US GDP price index, GDP growth rate, PCE prices, Core PCE prices, Real consumer spending, GDP sales, EIA crude oil stocks, EIA gasoline stocks, EIA heating oil stocks, EIA refinery crude runs change, EIA distillate stocks change, EIA distillate fuel production change, EIA cushing crude oil stocks change, EIA crude oil imports change, mortgage applications, 30-year mortgage rates, mortgage market index, mortgage refinance index, MBA purchases index, ADP employment change (Mar)

  • Germany import prices (Feb), inflation rate figures

  • Turkey economic confidence (Mar)

  • Italy industrial sales (Jan)

  • Eurozone economic sentiment, industrial sentiment, services sentiment, consumer sentiment, and consumer inflation expectations (all for Mar);

  • Italy PPI (Feb)

  • Spain inflation rate figures, business confidence (Mar)

  • Brazil PPI (Feb), bank lending (Feb), net payrolls (Feb)

  • South Africa price sector credit (Feb), money supply, budget balance (all Feb)

  • Mexico unemployment (Feb)

  • Russia  GDP (Feb), unemployment rate (Feb), real wage growth (Jan), retail sales (Feb), business confidence (Mar), corporate profits (Jan)

  • South Korea industrial production (Feb) retail sales (Feb), manufacturing production (Feb), construction output (Feb)

  • Japan industrial production (Feb)

  • Mexico fiscal balance (Feb)

  • Mozambique Central Bank interest rate decision

  • Egypt GDP

 

Thursday, March 31:

Political Event/Social Events –

 Economic Events –

  • US personal spending, personal income, PCE price index (all Feb), intial jobless claims figures (Mar), Core PCER price index figures (Feb), Chicago PMI (Mar), EIA natural gas stocks (Mar), quarterly grain stock figures, prospective planting figures (Mar)

  • China NBS manufacturing PMIs (Mar); struggling Chinese real estate company Evergrande expected to miss publication deadline of 2021 financial results

  • Japan housing starts (Mar), construction orders (Mar), Tankan large manufacturers index Q1, Tankan non-Manufacturing outlook Q1, Tankan Small Manufacturers Index Q1

  • Germany retail sales (Feb), unemployment rate (Feb), unemployed persons, unemployment change, unemployment rate (Mar)

  • UK GDP growth (final Q4), business investment numbers

  • France inflation rate, household consumption (Feb), PPIs (Feb), harmonized inflation rate (Mar)

  • Italy unemployment rate (Feb), inflation rate (Mar)

  • Spain concurrent account (Jan)

  • Eurozone unemployment rate (Feb)

  • Turkey balance of trade (Feb), foreign exchange reserves (Mar)

  • South Africa PPIs (Feb), trade balance (Feb)

  • India government budget value (Feb), infrastructure output (Feb), current account, external debt

  • Brazil unemployment rate (Feb), nominal budget balance (Feb)

  • Canada GDP (Jan), CFIB business barometer (Mar)

  • Australia building permits, private house approvals, private sector credit (Feb), Markit manufacturing PMI (Mar)

  • Angola Central Bank interest rate decision

  • Namibia 2021 GDP, money supply (Feb)

  • Zambia 2021 GDP, inflation figures (Mar), trade balance (Feb)

  

Friday, April 1:

Political Events/Social Events –

  • European Union-China Summit held virtually to discuss trade and political tensions

  • The UK assumes the presidency of the UN Security Council

  • Russia expected to implement indexation of pensions and other social safety net measures

  • Iran celebrates Republic Day – the anniversary of the 1979 Islamic Revolution

  • April Fools’ Day (no fooling!)

Economic Events –

  • US unemployment rate, non-farm payrolls, participation rate, avg. hourly earnings; avg. weekly hours, government payrolls, manufacturing payrolls, Markit manufacturing PMI, ISM’s  manufacturing figures, ISM manufacturing PMI, ISM manufacturing employment, ISM  manufacturing prices, construction spending, Baker Hughes oil rig count (Apr), total vehicle sales (Mar)

  • UK nationwide housing prices (Mar)

  • Turkey’s Istanbul Chamber of Industry Manufacturing PMI (Mar)

  • Spain Markit manufacturing PMI (Mar)

  • Italy Markit Manufacturing PMI (Mar)

  • France Markit Manufacturing PMI (Mar)

  • Germany Manufacturing PMI (Mar)

  • Eurozone inflation rate (Mar), CPI, Manufacturing PMI (Mar)

  • South Korea exports, balance of trade, imports (Mar), Markit PMI (Mar), inflation rate (Mar)

  • Australia home loans (Feb), commodity prices (Mar)

  • Indonesia Markit manufacturing PMI (Mar), inflation rate, core inflation rate

  • China Caixin manufacturing PMI (Mar)

  • Russia GDP YoY/Q4, Markit manufacturing (Mar)

  • Japan Jibun manufacturing PMI (Mar)

  • India foreign exchange reserves (Mar), balance of trade, exports, imports (Mar)

  • Brazil industrial production figures (Mar), Markit manufacturing PMI (Mar), balance of trade

  • Canada Markit manufacturing PMI (Mar)

  • Mexico Markit manufacturing PMI (Mar)

  • Nigeria PMIs (Mar)

  • South Africa manufacturing PMI (Mar), Moody’s rating assessment

 

Saturday, April 2:

Political Events/Social Events –

 Economic Events –

  • No significant reports/events

  

Sunday, April 3:

Political Events/Social Events –

Economic Events –

  • Israel foreign exchange reserves

  • Mexico business confidence (Mar)

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