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:
German Chancellor Olaf Scholz begins three-day visit to Senegal, Niger, and South Africa (May 22-25).
Thailand holds gubernatorial and mayoral elections (the first since 2014 when a coup was attempted)
World Economic Forum begins in Davos, Switzerland (through May 26)
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:
Quad Leaders’ Summit in Tokyo, Japan.
US primaries in Alabama, Arkansas, and Georgia.
G-7 Labor and Employment Ministers meeting in Wolfsburg, Germany.
Council of the Baltic Sea States Ministerial Meeting in Kristiansand, Norway. It is the first meeting the Council has held in nine years and the focus will be on Russia’s aggression against Ukraine.
Turkey’s foreign Minister Mevlut Cavausoglu and other senior officials visit Israel to discuss normalizing ties between the two countries. He also will meet with senior Palestinian Authority officials.
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.