The Global Week Ahead

Jun 22

June 22 - 29, 2025

The US Attacked Iran – Now What?, The NATO Summit Convenes, Followed by the European Council, The Shanghai Cooperation Organization’s Defense Ministers Meet, and Fed Chair Powell Testifies Before Congress

As we write this, the world is waking up to learn that President Donald Trump ordered the attack on three Iranian nuclear sites – Fordow, Natanz, and Isfahan – and, reportedly, a number of other strategic Iranian sites. According to Trump Administration officials, the attacks “obliterated” the targets, but US Chairman of the Joint Chiefs of Staff General Daniel Caine said it was “way too early” to comment on whether Iran retained nuclear capabilities. Damage assessments are being conducted by the US and Isreal, and we are likely to learn a lot more of the effectiveness of the attacks in the coming days.

Additionally, as Israeli Defense Force (IDF) sources have said, “it is too early to tell” if Iran moved any fissile materials from Fordow before the strike. What we are watching for now are three things:

What will Iran do to retaliate against the US? Will they attack US forces stationed in the region (there are close to 50,000 US troops stationed at a number of bases in the Middle East).
Will Iran move to shut down the Strait of Hormuz (as Iran’s Parliament voted to do this morning), paralyzing energy shipping and further raising tensions in the region with Gulf State nations. Only the Iranian Supreme Leader, Ayatollah Ali Khamenei, can make that decision, which ultimately would severely damage Iran’s already brittle economy.
Will Iran dare to activate suspected sleeper cells in the US and elsewhere to attack? Do they even have such cells in the US?

As all this takes place, the 2025 NATO Summit begins on Tuesday in the Netherlands, bringing together the leaders of all the NATO members, including President Trump. Other non-NATO heads of state have been invited to attend, including the Prime Ministers of Australia, Japan, New Zealand, and Ukraine, as well as the Presidents of South Korea, the European Council, and the European Commission.

There are two things’ markets should watch at the Summit: Will Japanese Prime Minister Ishiba and new South Korean President Lee get a chance to talk with Trump on the sidelines to secure trade agreements (something they had hoped to do at the G7 but did not happen as Trump left the summit early to return to Washington to deal with Iran). And second, will NATO members collectively agree to an increase in defense spending targets from 2% of GDP to 3.5% for defense spending, with an additional 1.5% for infrastructure spending, bringing the level to 5% of GDP? And by what timeline – 2030 or 2035?

European leaders will then roll into a European Council meeting on Thursday, where the Middle East will again dominate the agenda, as will defense spending, and trying to figure out a trade agreement with the US.

Elsewhere in the world this week, the defense ministers of the Shanghai Cooperation Organization (SCO) will be meeting in China. The SCO is composed of Belarus, China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Uzbekistan, and Tajikistan, and again, the situation in Iran will dominate the agenda. But it is expected that the SCO may touch on ongoing border tensions between India and China, ongoing tensions between Pakistan and India, and Ukraine.

In Washington this week, the two big events will be the US Senate’s continued efforts to hammer out a compromise among Senate Republicans on President Trump’s One Big Beautiful Bill Act. Senate Majority Leader John Thune (R-ND) has said he wants to bring it to a vote this week but we believe it likely to slip into next week as Congress is going to be distracted by President Trump’s Iran action along with real disagreements on the substance of the bill, mostly around state and local taxes (SALT) exemptions and Section 899 which would give the US Treasury the power to place tough taxes on foreign corporations from countries that place heavy taxes on US corporations.

The second event markets are going to be watching closely is Federal Reserve Board Chair Jay Powell’s testimony Tuesday before the House Financial Services Committee and Wednesday before the Senate Banking Committee on the state of the economy. With all that is going on geopolitically and with President Trump’s tariffs, these should be lively hearings (to say the least).

Looking at the global economic radar screen this week, beyond Powell’s testimony, markets will be listening closely to European Central Bank President Christine Lagarde’s comments Monday before the EU Parliament and Bank of England Governor Andrew Bailey’s testimony before the House of Lords.

In the US, the May PCE report is released this week, as well as Q1 GDP numbers. And the Conference Board’s consumer confidence index is out on Tuesday.

In Asia, Japan’s June CPI is released on Friday, as well as the Bank of Japan’s minutes from their last meeting on Wednesday. China’s May Industrial profits are out on Friday, too.

In Europe, the Eurozone’s June economic sentiment reports are out on Friday, Germany’s Ifo Survey on Tuesday, and France and Spain’s June CPI on Friday.

Below are all the other major geopolitical and geoeconomic events we are tracking this coming week:

Sunday, June 22, 2025

Global

· Nothing significant to report.

Americas

Political/Social Events –

· U.S. Speaker of the House Michael Johnson (R-LA) is scheduled to visit Israel. He will address the Israeli Knesset (NOTE: Johnson’s trip may be canceled because of the outbreak of fighting between Israel and Iran.)

· Today is the tentative date Telsa will launch their new Robotaxis in Austin, Texas.

Economic Reports/Events –

· San Francisco Federal Reserve Bank President Mary Daly participates in a monetary policy insights panel before the Western Economic Association International 100th Annual Conference.

Asia

Political/Social Events –

· The Tokyo Metropolitan Assembly elections take place. There are 127 seats representing the 14 million residents of Tokyo open for election.

· Today is the 60th anniversary of Japan and South Korea establishing diplomatic ties.

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 –

· The US-Africa Business Summit begins in Luanda, Angola. More than 1,500 attendees including a number of African government leaders, are expected to attend the three-day event.

Economic Reports/Events –

· Nothing significant to report.

Monday, June 23, 2025

Global

· The UN Security Council is scheduled to hold an open briefing on the United Nations Assistance Mission in Afghanistan (UNAMA) followed by consultations..

· The 7th Antarctic Treaty Consultative Meeting begins in Milan, Italy. The Meeting is also the 27th meeting of the Committee for Environmental Protection — running until July 3.

Americas

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Federal Reserve Board Governor Christopher J. Waller gives opening remarks at the 2025 International Journal of Central Banking Conference, Prague 1, Czech Republic.

· Federal Reserve Vice Chair Vice Chair for Supervision Michelle W. Bowman gives a speech on monetary policy and banking at the 2025 International Journal of Central Banking Conference, Prague 1, Czech Republic.

· The Federal Reserve Bank of New York holds a virtual discussion with business and community leaders on "the effects that labor market conditions, inflation, and interest rates have on them.” The event is being hosted by SUNY Schenectady Community College. New York Fed President John Williams will speak along with Federal Reserve Board Governor Adriana Kugler.

· Monday, June 24, 12:10 p.m. Central Time – Chicago Federal Reserve Bank President Austan Goolsbee participates in a moderated question-and-answer session before the Milwaukee Business Journal Mid-Year Outlook 2025.

· USA S&P Global Manufacturing/ Services/ Composite PMI Flash/ Existing Home Sales (May)

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

· Argentina GDP Growth Rate Q1

· Paraguay PPI (May)

· El Salvador Balance of Trade (May)

· Brazil BCB Focus Market Readout

· Costa Rica Balance of Trade (May)

Asia

Political/Social Events –

· India is expected to re-open its airspace to commercial Pakistani planes following the recent fighting between the two countries.

Economic Reports/Events –

· Australia S&P Global Manufacturing/ Services/ Composite PMI Flash (June)

· Japan Jibun Bank Manufacturing/ Services/ Composite PMI Flash (June)

· Singapore Unemployment Rate Final Q1/ Inflation Rate (May)

· Indonesia M2 Money Supply (May)

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

· Taiwan Unemployment Rate (May)

Europe

Political/Social Events –

· The EU Foreign Affairs Council meets in Brussels. The agenda includes an update and discussion of the situation in Ukraine, China and European security issues, the situation in the Middle East and Libya, and the situation in Georgia.

· The EU-Canada Summit takes in Brussels. Canadian Prime Minister Mark Carney will meet with EU President Ursala von der Leyen and European Council President Antonio Costa. The topics will cover the current geopolitical situation, economy and trade, and a number of sectorial issues they can improve on cooperation.

· The EU Agriculture and Fisheries Council meets through June 24. the Council will seek to reach a general approach on a regulation on a forest monitoring framework for resilient European forests. The proposal aims to establish a high-quality forest monitoring system to track progress on achieving EU targets and policy objectives concerning forests.

· There will be an informal meeting of EU Tourism Ministers through June 24 in Warsaw, Poland.

· The Net Zero Delivery Summit, hosted by the City of London Corporation, part of London Climate Action Week, takes place in London. Speakers include Lord Mayor of the City of London Alastair King.

· Today is Victory Day in Estonia, a national holiday celebrating when the country sought independence following the end of World War I.

Economic Reports/Events –

· European Central Bank President Christine Lagarde gives an introductory statement at the ECON Hearing before the Committee on Economic and Monetary Affairs (ECON) of the European Parliament in Brussels, Belgium.

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

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

· Euro Area HCOB Manufacturing/ Services/ Composite PMI Flash (June)/ ECB President Lagarde Speech

· Poland Corporate Sector Wages (May)/ Employment Growth (May)/ Industrial Production (May)/ PPI (May)

· Spain Balance of Trade (April)

· Turkey Tourist Arrivals (May)

· Great Britain S&P Global Manufacturing/ Services/ Composite PMI Flash (June)

· Ireland Wholesale Prices (May)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Lebanon Inflation Rate (May)

· Israel Current Account Q1/ M1 Money Supply (May)/ Manufacturing PMI (April & May)/ Unemployment Rate (May)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Tuesday, June 24, 2025

Global

· The UN Security Council is scheduled to hold a briefing on the United Nations Support Mission in Libya this will be followed by consultations. In the afternoon there will be a briefing on non-proliferation.

· The Internet Governance Forum Summit takes place in Oslo, Norway.

Americas

Political/Social Events –

· Today is the deadline for Commerce Secretary Howard Lutnick to present a process for adding additional tariffs on auto parts.

· The New York City Democratic Mayoral Primary will be held.

Economic Reports/Events –

· Cleveland Federal Reserve Bank President Beth Hammack speaks on monetary policy before the Barclays-CEPR Monetary Policy Forum 2025.

· Federal Reserve Board Chair Jay Powell testifies before the House Financial Services Committee.

· The Federal Reserve Bank of Kansas City holds a virtual discussion on "the current state of the agricultural economy and future prospects, part of its "Fed Listens" series. Speakers will include Federal Reserve Board Governor Michael Barr and Jeff Schmid, President and CEO of the Federal Reserve Bank of Kansas City.

· Boston Federal Reserve Bank President Susan Collins speaks before the “State of the Nation's Housing 2025" event hosted by the Federal Reserve Bank of Boston.

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

· Mexico Mid-month Inflation Rate (June)

· Canada Inflation Rate (May)/ CPI Median (May)/ Manufacturing Sales (May)

· USA Current Account Q1/ Redbook (June/21)/ S&P/Case-Shiller Home Price (April)/ House Price Index (April)/ CB Consumer Confidence (June)/ Richmond Fed Manufacturing Index/ Money Supply (May)/ API Crude Oil Stock Change (June/20)

· Chile PPI (May)

· Paraguay Interest Rate Decision

Asia

Political/Social Events –

· In China, the 14th National People’s Congress’ Standing Committee (NPCSC) - China’s senior legislative body - convenes for its 16th session, running until Friday. The committee will review draft revisions to the Public Security Administrative Penalty Law, the Law against Unfair Competition, the Maritime Law, the Fisheries Law, and the Civil Aviation Law, as well as draft laws on responding to public health emergencies, and promoting publicity and education on the rule of law.

· The Asian Infrastructure Investment Bank (AIIB) AIIB begins a three-day annual meeting in Beijing to elect a successor to founding President Jin Liqun. He is due to step down next January after serving two five-year terms from the bank's inception. The favorite to replace him is China's nominee, Zou Jiayi, who is one of the more than 200 elite members of the Chinese Communist Party Central Committee.

· The annual summer meeting of the World Economic Forum returns to Tianjin, near Beijing. Among the speakers at the three-day forum are Richard Liu, founder and chairman of Chinese online retailer JD.com; Dai Houliang, chairman of China National Petroleum; and Faisal Alibrahim, the minister of economy and planning of Saudi Arabia. Singaporean Prime Minister Lawrence Wong, who is on a first visit to China as prime minister from June 22 to 26, will also speak at the forum.

Economic Reports/Events –

· South Korea Consumer Confidence (June)

· New Zealand Credit Card Spending (May)

· Malaysia Inflation Rate (May)/ Coincident Index (April)/ Leading Index (April)

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

Europe

Political/Social Events –

· The 2025 NATO Summit begins in the Hague, Netherlands. The primary focus of the Summit was expected to be the War in Ukraine. However with the US bombing of Iran this past weekend, the Iranian issue will likely dominate talks. Additionally, a number of non-NATO member leaders will be attendance including Japanese Prime Minister Shigeru Ishiba and new South Korean President Lee Jae Myung. Both Ishiba and Lee are hoping to use the opportunity to move forward with a trade deal with US President Trump.

· The EU General Affairs Council meets in Luxembourg. The primary topic will be preparations for the upcoming June European Council meetings on June 26-27.

· The German 2025 budget will be published by the cabinet. The government has been operating on a pro-rata provision budget due to the early elections.

· The French far-left La France Insoumise Party is expected to file a no-confidence motion against the government.

Economic Reports/Events –

· Bank of England Governor Andrew Bailey gives remarks on Britain’s return to the gold standard in 1925.

· Bank of England Member of the Monetary Policy Committee Megan Greene gives remarks at the NIESR Conference in London.

· Bank of England Deputy Governor Dave Ramsden gives remarks that the Barclays CEPR Monetary Policy Forum in London.

· European Central Bank Board Member Luis de Guindos gives remarks and takes Q&A at the XLII APIE seminar organized by Association of Spanish Financial journalists and Universidad Menéndez Pelayo in Santander, Spain.

· European Central Bank President Christine Lagarde gives remarks on the occasion of the conferral of the De Sanctis Award "Europa" to her in Brussels, Belgium.

· European Central Bank Board Member Philip R. Lane gives the keynote speech at the Barclays-CEPR Monetary Policy Forum 2025 in London, United Kingdom.

· European Central Bank Board Member Sharon Donnery gives a dinner speech followed by Q&A at SSM-Senior Forum organized by A&O Shearman in Königstein, Germany.

· Ireland Consumer Confidence (June)

· Turkey Business Confidence (June)/ Capacity Utilization (June)

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

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

· Slovenia Business Confidence (June)/ Tourist Arrivals (May)

· Great Britain BoE Greene Speech/ CBI Industrial Trends Orders (June)/ BoE Ramsden Speech/ BoE Gov Bailey Speech/ BoE Breeden Speech

· Euro Area ECB Guindos Speech/ ECB President Lagarde Speech/ ECB Lane Speech

· Hungary Deposit Interest Rate (June)/ Interest Rate Decision

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Israel Composite Economic Index (May)

Africa

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· South Africa Leading Business Cycle Indicator (March)

· Nigeria GDP Growth Rate Q1

Wednesday, June 25, 2025

Global

· The UN Security Council is scheduled to hold an open debate on Children and Armed Conflict.

Americas

Political/Social Events –

· The Organization of American States hosts its annual assembly in Antigua and Barbuda.

Economic Reports/Events –

· Federal Reserve Board Chair Jay Powell testifies before the Senate Banking Committee.

· The Federal Reserve holds a meeting "to discuss proposed revisions to the Board's supplementary leverage ratio standards."

· USA MBA Mortgage Market Index (June/20)/ MBA Purchase Index (June/20)/New Home Sales (May)/ EIA Crude Oil & Gasoline Stocks Change (June/20)/ Building Permits Final (May)

· Brazil Current Account (May)/ Foreign Direct Investment (May)

· Colombia Business Confidence (May)

· Argentina Current Account Q1

Asia

Political/Social Events –

· The Shanghai Cooperation Organization (SCO) Defense Ministers Meeting will take place in Qingdao, China. The attendees will be from member countries China, Russia, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Tajikistan, Uzbekistan, and Belarus.

· The ASEAN IA Summit takes place in Kuala Lumpur.

· Today is the 75th anniversary of North Korea’s invasion of South Korea.

· Nikkei and the Financial Times are co-hosting Energy Transition Summit Asia 2025 in Jakarta.

Economic Reports/Events –

· Bank of Japan Member of the Policy Board Naoki Tamura gives a speech to local leaders in Fukushima, Japan.

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

· Japan Bank of Japan Summary of Opinions/ BoJ JGB Purchases/ Coincident Index Final (April)/ Leading Economic Index Final (April)

· Australia Monthly CPI Indicator (May)

· Thailand Interest Rate Decision

· India M3 Money Supply (June/13)

· Philippines Budget Balance (May)

Europe

Political/Social Events –

· Trade union workers at the Port of Antwerp are expected to either strike or run a work-slow down as they seek increased pay and better work conditions. The Antwerp Port is already significantly backlogged.

· Today is Croatia Independence Day, celebrating when the country declared its independence from the Socialist Federal Republic of Yugoslavia in 1991.

· Slovenia celebrates Statehood Day, marking when the country when a plebiscite was held and 95% of voters voted for independence.

Economic Reports/Events –

· Bank of England Executive Director Victoria Cleland gives a keynote speech at the UK Finance Digital Innovation Summit in London.

· Euro Area New Car Registrations (May)/ ECB Donnery Speech

· France Consumer Confidence (June)/ Unemployment Benefit Claims (May)/ Jobseekers Total (May)

· Spain GDP Growth Rate Q1/ PPI (May)

· Poland Unemployment Rate (May)

· Switzerland Economic Sentiment Index (June)/ SNB Quarterly Bulletin

· Russia Industrial Production (May)/ PPI (May)

· Ukraine GDP Growth Rate Q1

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

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

Africa

Political/Social Events –

· Today is Mozambique Independence Day, a national holiday.

Economic Reports/Events –

· Nothing significant to report.

Thursday, June 26, 2025

Global

· The Security Council is scheduled to hold a briefing the United Nations Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA), followed by consultations.

· Today is the 80th Anniversary of the first 50 countries signing the Charter of the United Nations, effectively found the United Nations.

Americas

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· The Federal Reserve Bank of Cleveland holds its 2025 Policy Summit, beginning at 9 a.m., with the theme "Building Strong and Sustainable Communities.” Cleveland Fed President Beth Hammack will give opening remarks. Federal Reserve Board Governor Michael Barr will speak on June 26th. Governor Lisa Cook will speak on June 27 at 9:15 a.m.

· Richmond Federal Reserve Bank President Thomas Barkin speaks on the economy before the New York Association for Business Economics.

· Brazil BCB Monetary Policy Report/ IPCA mid-month CPI (June)

· Mexico Balance of Trade (May)/ Interest Rate Decision

· USA Durable Goods Orders (May)/ GDP Growth Rate Q1/Chicago Fed National Activity Index (May)/ Goods Trade Balance Adv (May)/ Initial Jobless Claims (June/21)/ PCE Prices Q1/ Pending Home Sales (May)/ EIA Natural Gas Stocks Change (June)/ Kansas Fed Manufacturing & Composite Index (June)/ 15- & 30-Year Mortgage Rate (June/26)/ Fed Balance Sheet (June/25)

· Canada Average Weekly Earnings (April)/ Wholesale Sales (May)

Asia

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· South Korea Business Confidence (June)

· Japan Foreign Bond Investment (June/21)/ Stock Investment by Foreigners (June)

· Malaysia PPI (May)

· Singapore Industrial Production (May)

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

· Thailand New Car Sales (May)

Europe

Political/Social Events –

· The European Council meets in Brussels through June 27. EU leaders will gather to discuss a host of issues ranging from Ukraine to the situation in Iran, EU competitiveness, and the situation in Gaza.

· Bloomberg holds its Sustainable Business Summit in London.

Economic Reports/Events –

· The European Central Bank holds a General Council Meeting (virtual).

· Bank of England Governor Andrew Bailey gives a speech at the British Chamber of Commerce Global Annual Conference in London.

· European Central Bank Board President Christine Lagarde gives the opening speech at the 150th anniversary of Münchner Opernfestspiele in Munich, Germany.

· European Central Bank Board Member Luis de Guindos gives a virtual the Deutsche Bank Forum 2025 being held in Frankfurt, Germany.

· European Central Bank Board Member Isabel Schnabel speaks and participates on a panel discussion at the 'Wirtschaftsrat der CDU' Finanzmarktklausur in Frankfurt, Germany.

· Germany GfK Consumer Confidence JUL

· Hungary Current Account Q1

· Great Britain BoE Breeden Speech/ CBI Distributive Trades (June)/ BoE Gov Bailey Speech

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

· Russia Corporate Profits (April)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Iran Local Elections

· Israel Manufacturing Production (April)

Africa

Political/Social Events –

· Today is Madagascar Independence Day, a national holiday.

Economic Reports/Events –

· South Africa Consumer Confidence Q2/ PPI (May)

Friday, June 27, 2025

Global

· The UN Security Council is scheduled to hold a briefing on Sudan followed by consultations, and in the afternoon is scheduled to have a briefing United Nations Organization Stabilization Mission in the Democratic Republic of the Congo (MONUSCO), followed by consultations.

· The 24th Bank for International Settlements Annual Conference will be held in Basel, Switzerland.

Americas

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· New York Federal Reserve Bank President John Williams moderates a session featuring keynote remarks from Professor Carmen Reinhart at the 24th Bank of International Settlements Annual Conference.

· The Federal Reserve releases the results of its annual bank stress tests.

· Brazil IGP-M Inflation (June)/ Bank Lending (May)/ Unemployment Rate (May)/ Net Payrolls (May)

· USA Personal Income (May)/ PCE Price Index (May)/ Core PCE Price Index (May)/ Michigan Consumer Sentiment Final/ Baker Hughes Total Rigs Count (June)

· Mexico Unemployment Rate (May)

· Canada GDP (April)

· Colombia Unemployment Rate (May)/ Interest Rate Decision/ Cement Production (May)

· El Salvador Current Account Q1/ GDP Growth Rate Q1

· Paraguay Current Account Q1/ GDP Growth Rate Q1

· Uruguay Current Account Q1

· Panama Current Account Q1

Asia

Political/Social Events –

· Former Taiwanese President Ma Ying-jeou leads a delegation of students on a tour of China.

· Today is National Unity Day in Tajikistan, a national holiday.

Economic Reports/Events –

· New Zealand ANZ Roy Morgan Consumer Confidence (June)

· Japan Unemployment Rate (May)/ Jobs/applications ratio (May)/ Tokyo CPI (June)/ Retail Sales (May)

· Philippines Imports/ Exports/ Balance of Trade (May)/ Consumer Confidence Q2

· China Industrial Profits (YTD) (May)/ Current Account Final Q1

· Taiwan Consumer Confidence (June)

· Thailand Industrial Production (May)

· Singapore Export Prices (May)/ Import Prices (May)/ PPI (May)

· India Foreign Exchange Reserves (June/20)

· Sri Lanka Balance of Trade (May)

Europe

Political/Social Events –

· The 18th Accession Conference with Montenegro will be held in Brussels.

· European Council on Foreign Relations begins its two-day annual council meeting in Warsaw, where policymakers and thought leaders will gather to discuss pressing global challenges

Economic Reports/Events –

· Great Britain Car Production (May)/ Current Account Q1/ Business Investment Q1/ GDP Growth Rate Q1

· Hungary Unemployment Rate (May)

· France Inflation Rate (June)/ PPI (May)

· Slovakia Business Confidence (June)/ Consumer Confidence (June)

· Spain Inflation Rate (June)/ Retail Sales (May)/ Business Confidence (June)

· Turkey Economic Confidence Index (June)

· Italy Business Confidence (June)/ Consumer Confidence (June)/ Industrial Sales (April)/ PPI (May)

· Slovenia Retail Sales (May)

· Euro Area Economic Sentiment (June)/ Consumer Confidence Final (June)/ Consumer Inflation Expectations (June)/ Industrial Sentiment (June)/ Selling Price Expectations (June)/ Services Sentiment (June)

Middle East

Political/Social Events –

· Nothing significant to report.

Economic Reports/Events –

· Nothing significant to report.

Africa

Political/Social Events –

· The Foreign Ministers of the Democratic Republic of the Congo and Rwanda are scheduled to sign a peace agreement in the presence of US Secretary of State Marco Rubio. The deal will result in Rwandan forces to withdraw from eastern Congo and the creation of a regional economic integration framework.

· Today is Djibouti Independence Day, a public holiday.

Economic Reports/Events –

· Nigeria Foreign Exchange Reserves (June)

· Zimbabwe Inflation Rate (June)

Saturday, June 28, 2025

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 –

· Today is Constitution Day in Ukraine.

· Today is Armed Forces Day in the UK.

Economic Reports/Events –

· European Central Bank Board Member Isabel Schnabel chairs a panel discussion at Petersberger Sommerdialog 2025 in Königswinter (Bonn), Germany.

The Global Week Ahead

The U.S. Financial Regulatory Week Ahead

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