The Global Week Ahead

World Leaders Gather at UN General Assembly Week in New York, Japan Selects a New Prime Minister, Bracing for Israeli-Hezbollah Escalation, and Waiting For A Flood of Fed Governor Speeches

September 22 - 29, 2024

This coming week is going to be an exceptionally busy one on the geopolitical front.  The United Nations 79th General Assembly is this week, and leaders from around the world are gathering to give speeches before the Assembly and hold side meetings with other leaders.  Of note, we will be watching closely Iran's new President Masoud Pezeshkian's speech for not only what he says about the current escalation of fighting between Israel's and Iran's proxy militia, Hezbollah.  But also, press reports suggest Pezeshkian may suggest an avenue to restarting stalled talks on limiting Iran's nuclear program. 

As we write this update, there has been a significant escalation of fighting between Israel and Hezbollah following Israel’s stunning exploding pager operation last week, killing or wounding more than 3,000 Hezbollah operatives.  The question now is does this move into a full-out war (which seems most likely) or is there some remote chance of a diplomatic solution.

Also of note this week, Ukrainian President Volodymyr Zelensky will speak to the Assembly and then travel to Washington to meet with President Biden, Vice President Harris, and House and Senate leadership about additional military assistance.

As all this is happening, Japan's Liberal Democracy Party will vote on a new leader—who will then become the new Prime Minister of Japan—as incumbent LDP President and Prime Minister Fumio Kishida is not running for re-election and is standing down in the wake of low approval polls and a controversy over a slush fund scandal.

Turning to US politics, The House and Senate are expected to vote this week on a Continuing Resolution (CR) to keep the federal government running through December 20th.   The bill will likely face widespread House Republican opposition but still pass with just enough Republicans voting in favor, along with almost the entire House Democratic Caucus.  As this is going on, the House Foreign Affairs Committee is going to hold a hearing with Secretary of State Antony Blinken to review the chaotic withdrawal of US Forces from Afghanistan.  The Committee issued a scathing report recently, strongly criticizing how the withdrawal was conducted.

Looking at the global economic radar screen this week, we are struck by the large number of speeches Federal Reserve Board Governors are giving: ten, of which seven are being given on Thursday.  That is a lot for markets to digest, along with a busy US economic report calendar that includes US PCE readings, flash US CPI numbers, the Conference Board's consumer confidence index, and durable goods orders.

Turning to Europe, the European Central Bank, France, Germany, and Italy release their consumer expectation surveys.  In Asia, Japan releases the Tokyo CPI report and flash PMIs.  The Reserve Bank of Australia meets to decide interest rates.

Here is what else we are tracking in this hectic week ahead:

Sunday, September 22, 2024

Global

·       The opening segment of the Summit of the Future will take place at the General Assembly Hall. The UN Secretary-General is expected to deliver remarks, as well as the President of the 79th Session of the General Assembly, Philemon Yang. The Summit of the Future will continue until September 23.  

·       The UN’s the COP29 Presidency and the International Organization for Migration (IOM) are co-organizing a High-Level Roundtable on Climate, Peace and Human Mobility.

·       Today is the Fall Equinox.

Americas

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·       Indian Prime Minister Narendra Modi will address the Indian diaspora at the "Modi & US Progress Together" event at Nassau Veterans Memorial Coliseum in Long Island, New York. 

Economic Reports/Events –

·       Thailand New Car Sales (August)

Europe

Political/Social Events –

·       In Germany, the state of Brandenburg holds state elections.

·       Switzerland holds a referendum vote on initiative to strengthen biodiversity protection.

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 –

·       Today in South Sudan is the deadline for the dissolution of the transitional unity government ahead of possible December elections.

·       Today is Mali Independence Day, celebrating when the country gained its independence from France in 1960.

Economic Reports/Events –

·       Nothing significant to report.

Monday, September 23, 2024

Global

·      The International Atomic Energy Agency (IAEA) holds board meetings in Vienna, Austria. They are expected to be given an update on Iran’s nuclear weapons program, North Korea’s nuclear weapons program, and the situation around security and safeguards around Ukraine’s nuclear power facility, which has been the center of heavy fighting.

Americas

Political/Social Events –

·       President Joe Biden hosts UAE President Sheikh Mohamed bin Zayed al-Nahyan for talks on Gaza and Sudan.  This is the first state visit by a sitting UAE President.  He will also meet with Vice President Kamala Harris during his visit along with a large group of US businessmen.

·       The Argentine Congress is expected to begin debating the 2025 fiscal budget.  President Javier Milei has pledged to substantially reduce the federal deficit via austerity measures in the package.

·       The Clinton Foundation holds its annual Clinton Global Initiative in New York.

Economic Reports/Events –

·       Atlanta Federal Reserve Bank President Raphael Bostic to speak virtually on the economic outlook before the Distinguished Speakers Seminar convened by the European Economics and Financial Centre at the University of London.

·       Minneapolis Federal Reserve Bank President Neel Kashkari to participate in moderated question-and-answer session before the Greater Kansas City Chamber of Commerce Leadership Exchange 2024.

·       Chile Monetary Policy Meeting Minutes

·       Mexico Economic Activity (July)/ Retail Sales (July)

·       US Chicago Fed National Activity Index (August)/ S&P Manufacturing/ Services/ Composite PMI Flash (September)

·       Canada New Housing Price Index (August)

·       Paraguay PPI (August)

·       Brazil BCB Focus Market Readout

·       Costa Rica Balance of Trade (August)

Asia

Political/Social Events –

·       Japan's main opposition party, the Constitutional Democratic Party, will hold a leadership election.  Whomever wins is the likely next Prime Minister.

·       South Korea will host the 25th Korea-U.S. Integrated Defense Dialogue in Seoul.

·       Filipino unionized transport workers will stage a nationwide work stoppage through September 24.

Economic Reports/Events –

·       Japanese financial markets are closed to celebrate the Autum Equinox Day.

·       New Zealand Imports/ Exports/ Balance of Trade (August)

·       Australia Judo Bank Manufacturing/ Services/ Composite PMI Flash (September)

·       Indonesia M2 Money Supply (August)

·       Malaysia Inflation Rate (August)

·       India HSBC Manufacturing/ Services/ Composite PMI Flash (September)

·       Philippines Business & Consumer Confidence Q3

·       Taiwan Unemployment Rate (August)

Europe

Political/Social Events –

·        Italy will host the second Libya Energy and Economy Summit in Rome. 

·       The EU Agriculture and Fisheries Council meets in Brussels.  Ministers are going to discuss the upcoming EU-UK annual consultation on fishing opportunities for 2025 as well as the EU-Norway and coastal states annual consultations for the coming year.

·       The EU General Affairs Council will meet in Brussels.  Ministers will hear the Hungarian presidency will present the priorities for its term of office. Ministers will have an opportunity to present their comments.  They will also hold a horizontal discussion on the rule of law situation in the EU member states. Separately, ministers will also exchange views on the general trend of the rule of law situation in selected candidate countries. Both discussions will make use of the Commission’s 2024 rule of law report, which this year covers, for the first time, also developments in Albania, Montenegro, North Macedonia and Serbia. 

·       EU President Ursula von der Leyen delivers a keynote address at the Association of Small Islands States Leaders Meeting in New York.

·       Armenia's Security Council Secretary Armen Grigoryan will travel to the Netherlands and Brussels, Belgium, on a working visit. 

·       Paris Fashion Week begins. Maybe Derek Zoolander will be there, too.

Economic Reports/Events –

·       European Central Bank Board Member Piero Cipollone will give an introductory statement at a hearing on the digital euro before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, Belgium.  Later, he will participate on a panel discussion at a roundtable on the digital euro at the House of the Euro in Brussels.

·       European Central Bank Board Member Frank Elderson gives opening remarks at the summit on Real estate climate data industry good practices organized by the European Central Bank in Frankfurt, Germany.

·       Hungary Gross Wage (July)

·       Eurozone HCOB Manufacturing/ Services/ Composite PMI Flash (September)

·       France HCOB Manufacturing/ Services/ Composite PMI Flash (September)

·       Germany HCOB Manufacturing/ Services/ Composite PMI Flash (September)

·       Poland Retail Sales (August)/ M3 Money Supply (August)

·       Great Britain S&P Manufacturing/ Services/ Composite PMI Flash (September)/ CBI Industrial Trends Orders (September)

·       Belarus Industrial Production (August)

·       Ireland Consumer Confidence (September)

Middle East

Political/Social Events –

·       Saudi Arabia celebrates National Day.  Financial markets are closed.

Economic Reports/Events –

·       Israel Manufacturing Production (July)/ Manufacturing PMI (August)

·       Kuwait Inflation Rate (August)/ M2 Money Supply (August)/ Private Bank Lending (August)

·       Lebanon Inflation Rate (August)

·       Jordan Industrial Production (July)

·       Qatar M2 Money Supply (August)/ Total Credit Growth (August)/ Inflation Rate (August)

·       Oman M2 Money Supply (July)/ Total Credit (July)

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Ivory Coast Inflation Rate (August)

Tuesday, September 24, 2024

Global

·       The UN’s General Assembly’s General Debate of the 79th session officially begins.  The theme for the 79th session is “"Leaving no one behind: acting together for the advancement of peace, sustainable development and human dignity for present and future generations.” The Secretary-General will address this session of the General Debate. The Speakers list will be available in the UN Journal. 

·       The UN Security Council is scheduled to hold a briefing on Maintenance of peace and security of Ukraine.

Americas

Political/Social Events –

·       The House Foreign Affairs Committee holds a hearing on "An Assessment of the State Department's Withdrawal from Afghanistan by America's Top Diplomat."  US Secretary of State Antony Blinken will testify.  The Committee recently issued a scathing report on how the withdrawal was conducted and President Biden’s role.

Economic Reports/Events –

·       Federal Reserve Board Governor Michelle W. Bowman gives a speech at the Economic Outlook and Monetary Policy at the Kentucky Bankers Association Annual Convention.

·       Bank of Canada Governor Tiff Macklem will participate in a fireside chat at the Institute for International Finance Canada Forum 2024 in Toronto.

·       Brazil BCB Copom Meeting Minutes/ FGV Consumer Confidence (September)

·       Chile PPI (August)

·       Mexico Mid-month Inflation Rate (September)

·       Canada Manufacturing Sales MoM Prel (August)

·       USA Redbook (September/21)/ S&P/Case-Shiller Home Price (July)/ House Price Index (July)/ CB Consumer Confidence (September)/ Richmond Fed Manufacturing Index (September)/ Money Supply (August)/ API Crude Oil Stock Change (September/20)

Asia

Political/Social Events –

·       ASEAN Defense Senior Officials meet in Vientian.

·       ASEAN Energy Ministers meet in Vientian.

Economic Reports/Events –

·       Bank of Japan Governor Kazuo Ueda gives a speech to business leaders in Osaka, Japan. 

·       Japan Jibun Bank Manufacturing/ Services/ Composite PMI Flash (September)/ BOJ Gov Ueda Speech

·       South Korea PPI (August)

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

·       Malaysia Coincident Index (July)/ Leading Index (July)

·       Reserve Bank of Australia (RBA) Interest Rate Decision/ RBA Press Conference

·       Taiwan Export Orders (August)

·       Philippines Budget Balance (August)

Europe

Political/Social Events –

·       EU President Ursula von der Leyen co-hosts an event on carbon-pricing, together with Justin Trudeau, Prime Minister of Canada in New York.  She will also deliver opening remarks at the Global Renewables Summit in New York.

Economic Reports/Events –

·       European Central Bank Board Member Elizabeth McCaul gives the opening speech at the European Confederation of Institutes of International Accounting (ECIIA) Banking Forum 2024 "AI and IA: Responding to the Digital Journey in Banking".

·       Bankca d’Italia/G7  jointly hold a workshop entitled “Building a quantum safe financial system: what role for authorities and for the private sector?” in Rome.

·       Turkey Business Confidence (September)/ Capacity Utilization (September)/ Tourist Arrivals (August)

·       Germany Ifo Business Climate/ Current Conditions/ Expectations (September)

·       Poland Unemployment Rate (August)

·       Slovenia Business Confidence (September)

·       Hungary Deposit Interest Rate (September)/ Inflation Report/ Interest Rate Decision

Middle East

Political/Social Events –

·       Riyadh, Saudi Arabia will host the Smart Cities Saudi Conference.

Economic Reports/Events –

·       Israel Composite Economic Index (August)

Africa

Political/Social Events –

·       Guinea-Bissau celebrates its 51st Independence Day, marking when Portugal gave the country it’s freedom.

·       South African markets are closed.

Economic Reports/Events –

·       Nigeria Central Bank Interest Rate Decision

Wednesday, September 25, 2024

Global

·       The UN Security Council is scheduled to hold an open debate on the Maintenance of International Peace and Security: Leadership for Peace. The Secretary-General is expected to deliver remarks. 

·       At the UN, the 2nd Foreign Ministers meeting of G20 Brazil 2024 on the theme "Building a just world and a sustainable planet" will take place at the ECOSOC Chamber. The Secretary-General is expected to deliver remarks.

·       The UN holds a high-level meeting on rising sea levels.

·       The OECD presents its Interim Economic Outlook.

Americas

Political/Social Events –

·       US House of Representative’s Speaker of the House Michael Johnson (R-LA) is expected to present a stop-gap spending bill that will continue US government funding through December 20.  A deal was reached over the weekend with the Senate over the weekend.  A large number of House Republicans are expected to vote against it – which will complicate Speaker Johnson’s future as Speaker.

Economic Reports/Events –

·       Federal Reserve Board Governor Adriana D. Kugler gives a speech on the Economic Outlook at the Harvard Kennedy School, Cambridge, Massachusetts.

·       USA MBA Purchase Index (September/20)/ New Home Sales (August)/ EIA Crude Oil & Gasoline Stocks Change (September/20)/ Building Permits Final (August)

·       Brazil Current Account (August)/ Foreign Direct Investment (August)/ IPCA mid-month CPI (September)

·       Uruguay Unemployment Rate (August)

·       Argentina Economic Activity (July)/ Retail Sales (July)

Asia

Political/Social Events –

·       Vietnam's President and ruling Communist Party chief To Lam will visit Cuba through September 26 and meet with Cuban President Miguel Diaz-Canel. 

·       The Indian region of Jammu and Kashmir will begin its second phase of voting for assembly elections.

Economic Reports/Events –

·       South Korea Consumer Confidence (September)

·       Australia Monthly CPI Indicator (August)/ RBA Chart Pack

·       Singapore Inflation Rate (August)

·       Taiwan Industrial Production (August)/ Retail Sales (August)

Europe

Political/Social Events –

·       The EU Parliament is expected to vote on raising tariffs on Chinese electric vehicles.

Economic Reports/Events –

·       The European Central Bank’s Governing Council holds a non-monetary policy meeting (virtual).

·       European Central Bank Board Member Elizabeth McCaul participates in roundtable at European Banking Chief Compliance Officer Network (EBCCON) Plenary Meeting 2024 (virtual).

·       Bank of England Member of the Monetary Policy Committee Megan Greene gives a speech at the Chambers of Commerce in Newcastle on Consumption.

·       Hungary Current Account Q2

·       France Consumer Confidence (September)/ Unemployment Benefit Claims (August)/ Jobseekers Total (August)

·       Spain PPI (August)

·       Switzerland Economic Sentiment Index (September)

·       Slovenia Tourist Arrivals (August)

·       Euro Area ECB Non-Monetary Policy Meeting/ ECB McCaul Speech

·       Russia Corporate Profits (July)/ Industrial Production (August)

·       Ukraine GDP Growth Rate Q2

Middle East

Political/Social Events –

·       Abu Dhabi will host Global Aerospace Summit.  The focus of the meeting will be on investment and global trade in the industry.

Economic Reports/Events –

·       Saudi Arabia Imports/ Exports/ Balance of Trade (July)

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       South Africa Leading Business Cycle Indicator (July)

Thursday, September 26, 2024 

Global

·       G7 Agriculture Ministers will meet in Syracuse, Italy through September 28.

·       The World Bank/IFS/ODI Finance Conference begins in Washington, D.C.

·       BRICS Foreign Ministers meet in New York on the sidelines of the UN General Assembly.

·       BRICS Energy Ministers meet in Moscow.

·       The BRICS Digital Forum is held in Innopolis, Republic of Tatarstan.

·       The BRICS Science, Technology and Innovation Ministerial meeting will be held in Moscow.

Americas

Political/Social Events –

·       Ukrainian President Volodymyr Zelensky will meet with U.S. President Joe Biden and separately with Democratic presidential nominee Kamala Harris at the White House in Washington, D.C.

·       El Salvador's President Nayib Bukele will make an official visit to Argentina. The meetings come after the two nations signed a security agreement in June.

·       Ecuador will host the Women Economic Forum in Quito through September 28.

Economic Reports/Events –

·       Federal Reserve Board Governor Adriana D. Kugler participates in a Fireside chat on Financial Inclusion with President Susan M. Collins, co-hosted by the Federal Reserve Banks of Boston and Minneapolis and the Federal Reserve Board (virtual)

·       Federal Reserve Board Governor Michelle W. Bowman participates in a discussion on the “Economic Outlook and Monetary Policy” at the Mid-size Bank Coalition of America Board of Directors Workshop.

·       The Federal Reserve Bank of New York holds its 2024 U.S. Treasury Market Conference.  Scheduled speakers include: Brian Smith, deputy assistant Treasury secretary for federal finance, Fed Chairman Jerome Powell, Fed Vice Chair for Supervision Michael Barr, Treasury Secretary Janet L. Yellen, and SEC Chair Gary Gensler.

·       Federal Reserve Board Governor Lisa Cook participates in a roundtable discussion entitled “Artificial Intelligence and Workforce Development” at the Roundtable Discussion with Community Stakeholders, hosted by the Federal Reserve Bank of Cleveland and Columbus State Community College, Columbus, Ohio.

·       Federal Reserve Vice Chair for Supervision Michael S. Barr participates in a fireside chat on financial inclusion with Minneapolis President Neel Kashkari, co-hosted by the Federal Reserve Banks of Boston and Minneapolis and the Federal Reserve Board (virtual).

·       Federal Reserve Board Governor Lisa D. Cook gives a speech on Artificial Intelligence and the Labor Force at the Ohio State University President and Provost’s Diversity Lecture and Cultural Arts Series, Columbus, Ohio.

·       Brazil PPI (August)/ Net Payrolls (August)

·       Canada Average Weekly Earnings (July)/ Wholesale Sales Prel (August)

·       USA GDP Growth Rate Final Q2/ Initial Jobless Claims (September/21)/ PCE Prices Final Q2/ Pending Home Sales (August)/ Fed Barr Speech/ EIA Natural Gas Stocks Change (September/20)/ Kansas Fed Manufacturing & Composite Index (September)/ 15 & 30-Year Mortgage Rate (September/25)/ Fed Balance Sheet (September/25)

·       Argentina Consumer Confidence (September)

·       Colombia Business Confidence (August)

·       Mexico Interest Rate Decision

Asia

Political/Social Events –

·       The Collective Security Treaty Organization exercises called "Indestructible Brotherhood - 2024" will commence in Kazakhstan.

·       The editors of Hong Kong media outlet Stand News face sentencing after being convicted of sedition last month under a colonial-era law. The maximum penalty in the case would be two years in prison.

Economic Reports/Events –

·       Japan BoJ Monetary Policy Meeting Minutes/ Foreign Bond Investment (September/21)/ Stock Investment by Foreigners (September/21)

·       Australia RBA Financial Stability Review

·       Malaysia PPI (August)

·       Singapore Industrial Production (August)

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

Europe

Political/Social Events –

·       Pope Francis commences a four-day visit to Luxembourg and Belgium.

·       The EU Competitiveness Council (Internal Market and Industry) will meet in Brussels.  Ministers will discuss the future of European competitiveness and how to tackle the challenges facing industry and businesses in the single market. The policy debate follows discussions on the issue at the European Council meeting of 17-18 April 2024, and the Competitiveness Council on 24 May, along with the presentation of former Italian Prime Minister Mario Draghi’s report on 9 September.

·       European Parliament members and political groups will present their nominations for the 2024 Sakharov Prize for Freedom of Thought, the highest tribute paid by the EU in the field of human rights, at a joint meeting of the Foreign Affairs Committee, Human Rights Subcommittee, and Development Committee. The vote on the three finalists will take place in October.

Economic Reports/Events –

·       The European Central Bank’s General Council holds a meeting (virtual).

·       European Central Bank President Christine Lagarde will give the welcoming address at the 8th annual ESRB conference "New Frontiers in Macroprudential Policy" in Frankfurt, Germany.

·       European Central Bank Board Member Frank Elderson gives the opening remarks at the stakeholder meeting about the ECB Guide on Governance & Risk Culture in Frankfurt, Germany.

·       European Central Bank Board Member Elizabeth McCaul will chair a panel discussion at stakeholder meeting about the ECB Guide on Governance & Risk Culture in Frankfurt, Germany.

·       European Central Bank Board Member Claudia Buch will give the keynote speech at the 8th annual ESRB conference "New Frontiers in Macroprudential Policy" in Frankfurt, Germany. European Central Bank Board Member Isabel Schnabel will give remarks at the Wirtschaftsrat der CDU e.V. in Stuttgart, Germany.

§  Shoib Khan, director of insurance supervision at the Bank of England’s Prudential Regulation Authority, speaks at the 29th Bank of America Financials CEO conference

§  The UK’s Financial Conduct Authority holds its annual public meeting.

·       Great Britain Car Production (August)

·       Germany GfK Consumer Confidence OCT

·       Euro Area ECB General Council Meeting/ ECB Economic Bulletin/ Loans to Companies & Households (August)/ M3 Money Supply (August)

·       Span Retail Sales (August)

·       Switzerland SNB Interest Rate Decision

·       Italy Business & Consumer Confidence (September)

·       Greece Total Credit (August)

·       Turkey MPC Meeting Summary/ Foreign Exchange Reserves (September/20)

·       Ukraine Balance of Trade (July)

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 –

·       South Africa PPI (August)

Friday, September 27, 2024

Global

·       G7 Energy Ministers will meet in Foz do Iguaçu, Brazil.

·       The Group of 77 (G77) Foreign Ministers will meet in New York.

·       The BRICS Communications Ministers meeting will take place in Innopolis, Republic of Tatarstan.

Americas

Political/Social Events –

·       Higher U.S. tariffs on imported Chinese electric vehicles will go into effect.

Economic Reports/Events –

·       Federal Reserve Board Governor Michelle W. Bowman participates in a conversation at the Alabama Bankers Association Bank CEO Meeting, Birmingham, Alabama.

·       Brazil IGP-M Inflation (September)/ Bank Lending (August)/ Unemployment Rate (August)

·       Canada CFIB Business Barometer (September)/ GDP (July)/ Budget Balance (July)

·       Mexico Balance of Trade (August)

·       USA Core PCE Price Index (August)/ Personal Income & Spending (August)/ Goods Trade Balance Adv (August)/ PCE Price Index (August)/ Michigan Consumer Sentiment Final (September)/ Baker Hughes Total Rigs Count (September/27)

·       Costa Rica GDP Growth Rate Q2/ Current Account Q2

·       Paraguay GDP Growth Rate Q2/ GDP Growth Rate Q2

·       Argentina Current Account Q2

·       Panama Current Account Q1

Asia

Political/Social Events –

·       Today is Turkmenistan Independence Day, celebrating when the country gained its independence from the Soviet Union in 1991.

Economic Reports/Events –

·       New Zealand ANZ Roy Morgan Consumer Confidence (September)

·       South Korea Business Confidence (September)

·       Japan Tokyo CPI (September)/ Coincident Index Final (July)/ Leading Economic Index Final (July)

·       China Industrial Profits (YTD) (August)

·       Sri Lanka Interest Rate Decision

·       Taiwan Consumer Confidence (September)

·       Thailand Industrial Production (August)

·       Vietnam Foreign Direct Investment (September)

·       India Foreign Exchange Reserves (September/20)

Europe

Political/Social Events –

·       The Czech Republic holds the second round of Senate elections.

Economic Reports/Events –

·       European Central Bank Board Member Philip R. Lane will give the opening remarks at a conference on "Fiscal Policy, Financial Sector Policy and Economic Growth" in Dublin, Ireland.

·       European Central Bank Board Member Piero Cipollone will give the keynote speech at the "Economics of Payments XIII" conference organized by the Oesterreichische Nationalbank in Vienna, Austria.

·       Hungary Unemployment Rate (August)

·       France Inflation Rate Prel (September)/ PPI (August)

·       Slovakia Business & Consumer Confidence (September)

·       Spain Inflation Rate Prel (September)/ GDP Growth Rate Final Q2/ Business Confidence (September)

·       Turkey Imports/ Exports/ Balance of Trade Final (August)/ Economic Confidence Index (September)

·       Germany Unemployment Rate (September)

·       Italy Industrial Sales (July)/ PPI (August)

·       Euro Area ECB Lane Speech/ Economic & Industrial Sentiment (September)/ Consumer Inflation Expectations (September)/ Selling Price Expectations (September)/ Services Sentiment (September)/ ECB Cipollone Speech

·       Slovenia Retail Sales (August)

·       Ireland Wholesale Prices (August)

·       Great Britain CBI Distributive Trades (September)

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 –

·       Zimbabwe Inflation Rate (September)

·       Egypt M2 Money Supply (August)

Saturday, September 28, 2024

Global

·        Nothing significant to report.

Americas

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Asia

Political/Social Events –

·       Today is the 10th anniversary of the Umbrella Movement, the mass protests in Hong Kong over election rights and the ability of city citizens to pick their own local leadership.

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 –

·       Nothing significant to report.

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.

Sunday, September 29, 2024

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 –

·       Austria holds Parliamentary elections. 183 seats of the National Council and lower house of parliament are up.  The far-right Freedom Party of Austria (FPÖ) currently is polling at 26%, and the center-right Austrian People’s Party (ÖVP) led by incumbent Chancellor Karl Nehammer with 25%. The Social Democratic Party (SPÖ) is close behind with 21% (which means no single party will likely secure a majority, forcing a coalition government).

Economic Reports/Events –

·       Nothing significant to report.

Middle East

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Saudi Arabia M3 Money Supply (August)/ Private Bank Lending (August)

Africa

Political/Social Events –

·       Nothing significant to report.

Economic Reports/Events –

·       Nothing significant to report.