The Global Week Ahead
October 18 - 25, 2026
Canada’s Alberta Province Votes on Secession, US—Iran Tensions Harden, Trump Pivots on Ukraine Aid While Easing Pressure on Russia, and Markets Brace for a Wave of Inflation Data
It has been a busy autumn globally as geopolitical events and market conditions have experienced serious gyrations and disruptions, punctuated by major events (e.g., the Trump-Xi summit, the World Bank-IMF meetings, the first round of Brazil’s presidential elections, the stunning AfD wins in German regional elections). By comparison, the coming week is shaping up to be relatively quiet – but our advice is don’t get too comfortable. This week is more akin to the eye of the storm than anything else.
The big geopolitical event we’re watching this week is Monday’s historic vote in Alberta on whether to secede from Canada. The vote is a nonbinding referendum asking voters whether the province should begin the legal process toward a binding independence referendum. Complicating the vote are eight other important and complex questions being put to voters, including the approval of new immigration controls, voter identification, access to provincial services for immigrants vs. citizens, court reform, and whether to abolish the unelected federal Senate.
Separatist leaders have been arguing that the large oil and gas wealth generated in Alberta subsidizes other provinces while federal-level environmental laws have simultaneously been hurting those two sectors. Polls suggest close to 70 percent of Albertans oppose succession and want to remain. But Alberta is not the only province debating whether to secede or not: Quebec’s recent elections saw a significant uptick in seats won by the Parti Québécois (PQ) which ran on a plank promising a referendum on seceding (that would be the third such secession vote, the others being held in 1980 and 1995). But the PQ does not have a majority – having only won 59 of 127 seats, five short of a majority. PQ leader Paul St-Pierre Plamondon has promised, however, to hold off on such a referendum until President Trump is out of office, as he does not want the President interfering in the vote.
Also this week, Canadian Prime Minister Mark Carney will travel to Turkey for meetings with Turkish President Recep Tayyip Erdogan. It is Carney’s first visit to Turkey since becoming Prime Minister and highlights the growth in relations between the two countries. Trade between Turkey and Canada has increased more than 50 percent in the last five years, and Turkey recently announced they would support the Defense Security and Resilience Bank (DSRB), which was established by Carney to help finance defense projects for Canada and its allies.
Brazil holds the second round of presidential elections this coming Sunday. Incumbent President Luiz Inácio Lula da Silva (Lula) continues to trail Senator Flavio Bolsonaro by a slim majority according to three recently released polls. A CNT/MDA poll released Friday showed Bolsonaro leading by 46.8% to Lula’s 45.9%. A Quaest poll showed Bolsonaro up 46% to 44% and Datafolha found Bolsonaro at 47% and Lula at 45%.
Hong Kong will host Asia-Pacific Economic Cooperation (APEC) finance ministers this week for meetings on global and regional economic conditions – particularly in light of how much the Iran War has negatively impacted the greater Asia-Pacific region. US Treasury Secretary Scott Bessent is expected to skip the event – as he did with the World Bank-IMF meetings in Bangkok – due to other “pressing demands.”
This is an important meeting for Beijing as it hopes to promote an image of greater economic leadership in the region while also encouraging greater investment in Hong Kong.
Finally, there appears to be a hardening of positions in Tehran and Washington regarding the ongoing military tensions. Experts we have talked to tell us Tehran and its proxy Houthi forces are likely to ramp up pressure on shipping in the Strait of Hormuz as well as the Red Sea – mostly in anticipation of the US midterm elections (causing another spike in gasoline and diesel prices). The Houthis appear intent on provoking a bigger conflict with Saudi Arabia, again putting more pressure on oil and gas prices globally.
While all this plays out, Washington is struggling to understand a major shift by President Trump regarding Ukraine. This was one of the worst weeks for US–Ukraine relations since the February 2025 Oval Office clash between Trump and Ukrainian President Volodymyr Zelenskyy. Over the last ten days, Trump eased pressure on Russian oil, announced an “energy ceasefire” that Russia ignored but that he demanded Ukraine honor, attacked Zelenskyy publicly, and oversaw restrictions on a key US-controlled satellite service.
President Trump is now facing a major backlash from Congress – including a large and growing number of Republicans who are expressing outrage – for striking a deal with Russian President Vladimir Putin to buy Russian diesel fuel and lifting sanctions to do it. (He could have bought diesel more cheaply and easily from Canada.) This in effect reversed the recently passed legislation which Trump signed into law: the Lindsey Graham Sanctioning Russia and Iran Act of 2026 which requires additional financial restrictions and potential tariffs of up to 100% on major purchasers of Russian energy.
Trump then attacked Zelenskyy for not stopping military strikes on Russian oil and gas facilities while also apparently ordering the withholding of intelligence shared with Ukraine to fend off Russian rocket and drone attacks. Additionally, it appears Trump ordered new restrictions on Starshield, the military component of Starlink. This meant that Ukraine was unable to stop Russian jet-powered Geran-4 drones.
It appears this may all be part of Trump’s demand for a technical-level trilateral meeting between the US, Russia, and Ukraine by the end of October. This would also include advancing recent US–Russia talks reportedly focused on a possible deal involving Lukoil’s international assets and commercial oil and nuclear-powered data center deals negotiated by US Special Envoy Steve Witkoff and Jared Kushner..
Back to our point about this week being something of an “eye of the storm” – the US midterm elections are now less than 20 days away, the Israeli elections are on October 27th,which will determine Prime Minister Benjamin Netanyahu’s political future, and President Trump, Chinese President Xi Jinping, and Russian President Putin are expected to hold a three-way meeting at the APEC Leaders’ Summit on November 18th in Shenzen, China..
Looking at the global financial and economic radar screen this week, major economic activity indicators will be the market’s primary focus: the October PMIs for the US, Japan, UK, Germany, and France.
In the US, the Federal Reserve enters its two-week black out period in advance of the Federal Open Market Committee (FOMC) meeting on October 28th. The University of Michigan consumer sentiment survey is out on Friday. Canada releases its September CPI on Monday and August retail sales on Friday.
In Asia, China releases its Q3 GDP figures on Monday, along with September’s retail sales and industrial production numbers. The Bank of Korea meets on Thursday to decide on interest rates. Japan releases September’s trade figures on Wednesday and September’s CPI print on Friday.
In Europe, as noted, October PMIs for Germany, France, and the UK are out on Friday. Markets (and undoubtedly a few French politicians) are anxiously awaiting Moody’s credit rating update on France’s debt this Friday. Moody’s currently rates France at Aa3 with a negative outlook.
Also this week, we get the ZEW Survey for Germany on Tuesday and October Business Confidence numbers for France on Thursday. The UK will produce a flood of data this week with labor numbers on Tuesday and September inflation on Wednesday in advance of the PMIs on Friday. Also on Friday, the European Central Bank (ECB) consumer expectations survey is released. Finally, the ECB goes into its blackout period at the end of the week.
And lest we forget, earnings season gets fully underway this week with major tech and manufacturing companies reporting.
Below is everything else we are tracking around the world in the coming week:
Sunday, October 18, 2026
Global
· The IMF – World Bank meetings conclude in Bangkok, Thailand.
Americas
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Asia
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Israel Q2 GDP
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Monday, October 19, 2026
Global
· The World Bank will hold the Global AI and Digital Summit in Seoul, South Korea, through October 23rd.
· The UN Security Council is scheduled to hold a briefing on Haiti, followed by consultations.
· The UN Framework Convention on Climate Change (UNFCCC) is expected to release the “Report on progress towards achieving the goal of mobilizing jointly USD 100 billion per year to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation.”
Americas
Political/Social Events –
· Alberta, Canada, holds a referendum on whether to remain a province of Canada or hold a second vote on separation. But there are a number of other issues on the ballot including immigration and constitutional reforms. Interest in the vote is strong among voters in Alberta, with more than 491,000 early ballots cast.
· US Secretary of State Marco Rubio is in Samarkand, Uzbekistan, meeting with foreign ministers of five Central Asian countries – otherwise known as C5+1. The five countries are Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The trip started October 17th and concludes October 19th. More than 200 business leaders are accompanying Rubio. The visit comes amid growing US interest in Central Asia's critical minerals, energy resources, and transport corridors, as regional governments seek to diversify partnerships and reduce their dependence on traditional powers.
· In Japan’s south-west region, US military and Japanese military American and Japanese forces will rehearse island defense as part of the biennial Keen Sword exercise. This drill runs until October 29th.
Economic & Financial Reports/Events –
· The Federal Reserve Board and members of the Federal Open Market Committee go into their Quiet Period in advance of the October 28th FOMC meeting.
· Brazil IGP-10 Inflation (October)/ BCB Focus Market Readout
· Canada Inflation Rate (September)/ CPI Common (September)/ CPI Median (September)/ CPI Trimmed-Mean (September)/ BoC Business Outlook Survey/ BoC Survey of Consumer Expectations
· Ecuador Balance of Trade (August)
· USA NAHB Housing Market Index (October)
· Colombia ISE Economic Activity (August)
· Argentina Balance of Trade (September)
· EARNINGS: Zions Bank, Fifth Third Bank, Berkeley
Asia
Political/Social Events –
· APEC Finance Ministers will hold a ministerial meeting on Minerals through October 23rd in Hong Kong.
· The Shanghai Cooperation Organization (SCO) Council of Heads of Government (Prime Ministers) will meet in Dushanbe, Tajikistan.
· Vietnam’s General Secretary and State President To Lam will visit Copenhagen and Brussels through October 24th. While in Brussels he will meet with European Council President Antonio Costa and European Commission President Ursula von der Leyen. Discussions are expected to cover trade, investment, green growth, critical minerals, and digital/tech innovation.
· The Bund Summit begins in Shanghai to discuss technology, geopolitics and the global economy.
· The Financial Street Forum 2026 convenes in Beijing, with key officials including People's Bank of China Gov. Pan Gongsheng and top securities regulator Wu Qing due to deliver remarks. Over four days, hundreds of guests will discuss the global economy and financial regulation.
Economic & Financial Reports/Events –
· New Zealand Composite NZ PCI (September)/ Services NZ PSI (September)/ Imports/Exports/Balance of Trade (September)
· Reserve Bank of Australia Assistant Governor Christopher Kent participates in a fireside chat at Commonwealth Bank’s Global Markets Conference in Sydney.
· China House Price Index (September)/ GDP Growth Rate Q3/ Industrial Production (September)/ Retail Sales (September)/ Fixed Asset Investment (YTD) (September)/ Industrial Capacity Utilization Q3/ Unemployment Rate (September)
· Malaysia Inflation Rate (September)/ Imports/Exports/Balance of Trade (September)
· Japan Tertiary Industry Index (August)
· EARNINGS: VinFast
Europe
Political/Social Events –
· The EU Employment, Social Policy, Health and Consumer Affairs Council (Employment and Social Policy) will meet in Luxembourg. The agenda will cover housing exclusion and homelessness, the Quality Jobs Act, equality as a driver for growth and competitiveness, and delivering equality in the EU.
· In Berlin, the Invest in Germany Summit begins with Chancellor Friedrich Merz giving opening remarks. Finance minister Lars Klingbeil and economy minister Katherina Reiche will also attend.
· The NATO Infrastructure Conference begins in London and runs through October 21st.
Economic & Financial Reports/Events –
· European Central Bank Board Member Frank Elderson gives the keynote speech at the 5th Green Swan Conference 2026 organized by the Bank for International Settlements, Bangko Sentral ng Pilipinas, Banca d’Italia and Network for Greening the Financial System in Manila, Philippines.
· European Central Bank Chief Economist Philip R. Lane will participate in the CF40-G30 Bund Roundtable "Central Banking in Transition: Mandates, Markets, and Macroprudential Risk" in Shanghai, China.
Middle East
Political/Social Events –
· French President Emmanuel Macron will begin a visit to the Gulf states. He will make stops in Abu Dhabi, Manama, Kuwait City and Doha through October 21st. He intends to discuss the situation in the Gulf and the ongoing war with Iran.
· Iranian Foreign Minister Seyyed Abbas Araghchi will host Russian Foreign Minister Sergey Lavrov for talks on the war with the United States.
· The Forbes Middle East Sustainability Leaders’ Summit will begin in Abu Dhabi and run through October 20th.
Economic & Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Tuesday, October 20, 2026
Global
· The UN Security Council is scheduled to hold a briefing on the UN Multidimensional Integrated Stabilization Mission in the Central African Republic (MINUSCA), followed by consultations. In the afternoon, the Council is scheduled to hold a briefing on the UN Interim Administration Mission in Kosovo (UNMIK).
Americas
Political/Social Events –
· Guatemala celebrates Revolution Day, commemorating the 1944 democratic rebellion that threw off decades of repressive government.
· Canadian insurance CEOs speak at the Economic Club of Canada on the morning of October 20. [TM1]
Economic & Financial Reports/Events –
· USA ADP Employment Change Weekly/ Building Permits (September)/ Housing Starts (September)/ Redbook (October/17)/ Pending Home Sales (September)/ API Crude Oil Stock Change (October/16)/ Atlanta Fed GDPNow Q3
· Argentina Leading Indicator (September)
· EARNINGS: Netflix, RTX, General Motors, GE Aerospace, 3M, MSCI, Northrop Grumman, Ally, Halliburton, Capital One, Chubb, Alaska Airlines, United Airlines, Annaly, SpaceX
Asia
Political/Social Events –
· US Secretary of State Marco Rubio will meet with India’s Minister for External Affairs S. Jaishankar in Mumbai.
· The Japan Aerospace Exploration Agency will launch its Martian Moons eXploration spacecraft aboard an H3 rocket. The mission involves landing on Phobos, the larger of Mars' two moons, and returning samples to Earth in 2031, marking what would be the world's first sample return from that part of the solar system.
· India’s financial markets are closed for Dussehra holiday celebrations.
Economic & Financial Reports/Events –
· China Loan Prime Rate 1Y/ Loan Prime Rate 5Y (October)/ FDI (September)
· Taiwan Export Orders (September)
Europe
Political/Social Events –
· Russian Prime Minister Mikhail Mishustin will host Chinese Premier Li Qiang in Moscow through October 22nd.
· German Chancellor Friedrich Merz speaks at the Invest in Germany Summit in Berlin.
· The Berlin Global Dialogue begins and runs through October 22nd.
Economic & Financial Reports/Events –
· Bank of England Member of the Monetary Policy Committee Megan Greene gives a speech at the LSE Economics Society in London.
· Bank of England Executive Director for Financial Markets Sasha Mills speaks at the OPTIC 2026 Re-imagining Europe’s Capital Markets event in London.
· Belarus GDP (September)
· Germany PPI (September)/ ZEW Economic Sentiment Index (October)/ ZEW Current Conditions (October)
· Switzerland Balance of Trade (September)
· UK Unemployment Rate (August)/ Average Earnings incl. Bonus (3Mo/Yr) (August)/ Employment Change (August)/ Average Earnings excl. Bonus (3Mo/Yr) (August)/ Claimant Count Change (September)/ HMRC Payrolls Change (September)
· Poland Corporate Sector Wages (September)/ Employment Growth (September)/ Industrial Production (September)/ PPI (September)
· Euro Area Current Account (August)/ Current Account s.a (August)/ ZEW Economic Sentiment Index (October)/ Construction Output (August)
· Italy Construction Output (August)/ Current Account (August)
· Spain Balance of Trade (August)
· Hungary Deposit Interest Rate (October)/ Interest Rate Decision
· Turkey Central Government Debt (September)
· EARNINGS: ABB, Deutsche Borse
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Israel Unemployment Rate (September)
· Saudi Arabia Real Estate Price Index Q3
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Wednesday, October 21, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Canadian Prime Minister Mark Carney travels to Turkey for meetings with President Recep Tayyip Erdogan. He will stop in Istanbul before traveling on to Ankara to discuss ways to improve mutual trade, defense, and energy. This is Carney’s first visit to Turkey for a bilateral with Erdogan.
· National Bank’s CEO and chief economist are set to speak together on October 21 at the Canadian Club Toronto.
· U.S. Treasury Secretary Scott Bessent speaks off the record at the annual JPMorgan/Robin Hood Investors Conference in New York.
Economic & Financial Reports/Events –
· USA MBA 30-Year Mortgage Rate (October/16)/ MBA Mortgage Applications (October/16)/ MBA Mortgage Market Index (October/16)/ MBA Mortgage Refinance Index (October/16)/ MBA Purchase Index (October/16)/ EIA Crude Oil/Gasoline Stocks Change (October/16)
· Mexico Retail Sales (August)
· Colombia Imports/Balance of Trade (August)
· Argentina Economic Activity (August)
· El Salvador Balance of Trade (September)
· Costa Rica Balance of Trade (September)
· EARNINGS: Tesla, Meta, IBM, AT&T, Abbott, NextEra Energy, CME Group, Danaher, Thermo Fisher, Northern Trust, Crown Castle, CACI, Texas Instruments, CSX
Asia
Political/Social Events –
· Polish Prime Minister Donald Tusk travels to India to meet with Indian Prime Minister Narendra Modi in New Delhi. This meeting reciprocates Modi's recent visit and aims to advance industrial and strategic cooperation.
Economic & Financial Reports/Events –
· South Korea PPI (September)
· Japan Imports/Exports/Balance of Trade (September)/ BoJ JGB Purchase
· New Zealand Credit Card Spending (September)/ Global Dairy Trade Price Index (October/20)
· Indonesia Foreign Direct Investment Q3/ Interest Rate Decision/ Deposit Facility Rate (October)/ Lending Facility Rate (October)/ Loan Growth (September)
· India Infrastructure Output (September)
Europe
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· European Central Bank President Christine Lagarde will participate in an on-stage conversation at Museum Reinhard Ernst in Wiesbaden, Germany.
· Bank of England Governor Andrew Bailey participates in a fireside chat at an OMFIF event in London entitled “Central Bank Independence in an Era of Financial Instability.”
· European Central Bank Board Member Piero Cipollone will give an online presentation at the Associazione Bancaria Italiana's Executive Committee Meeting.
· European Central Bank Chief Economist Philip R. Lane participates in a panel at CF40-Euro50 Closed-Door Luncheon "Monetary System Beyond the Dollar” in Shanghai, China.
· Slovakia Current Account (August)/ Unemployment Rate (September)
· UK Inflation Rate (September)/ PPI Input/Output (September)/ Public Sector Net Borrowing Ex Banks (September)/ Retail Price Index (September)
· Turkey Business Confidence (October)/ Capacity Utilization (October)
· Poland Consumer Confidence (October)
· Greece Current Account (August)
· Slovenia PPI (September)
· Russia PPI (September)
· EARNINGS: SAP
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Saudi Arabia Construction Cost Index (September)
· Israel Interest Rate Decision
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· South Africa Inflation Rate (September)/ Retail Sales (August)
Thursday, October 22, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Mexico Mid-month Inflation Rate (October)/ Unemployment Rate (September)
· Canada PPI (September)/ Raw Materials Prices (September)
· USA Initial Jobless Claims (October/17)/ Continuing Jobless Claims (October/10)/ Jobless Claims 4-week Average (October/17)/ CB Leading Index (September)/ EIA Natural Gas Stocks Change (October/16)/ Kansas Fed Composite Index (October)/ Kansas Fed Manufacturing Index (October)/ 15-Year Mortgage Rate (October/22)/ 30-Year Mortgage Rate (October/22)/ Fed Balance Sheet (October/21)/ Reserve Balances with Fed Banks (October/21)
· Argentina Consumer Confidence (October)/ Retail Sales (August)
· Brazil BCB National Monetary Council Meeting
· EARNINGS: Blackstone, Lockheed Martin, Intel, Nokia, Comcast, Argenx, Tractor Supply, Huntington Bank, Dow, American Airlines, Valero, Newmont, Sallie Mae, Spotify, Honeywell, Procter & Gamble, United Rentals, Union Pacific, Norfolk Southern
Asia
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· New Zealand Inflation Rate Q3
· Japan Stock Investment by Foreigners (October/17)
· South Korea Interest Rate Decision
· Philippines Interest Rate Decision/ Budget Balance (September)
· Hong Kong Inflation Rate (September)/ Unemployment Rate (September)
Europe
Political/Social Events –
· There will be an informal meeting of EU Trade Ministers through October 23rd in Dublin, Ireland.
Economic & Financial Reports/Events –
· Bank of England Head of Prudential Policy David Bailey gives a speech at the Moody’s Ratings London Banking Conference in London.
· Slovenia Unemployment Rate (August)/ Consumer Confidence (October)
· EU New Car Registrations (September)
· Hungary Unemployment Rate (September)
· France Business Confidence (October)/ Business Climate Indicator (October)
· Turkey Consumer Confidence (October)/ TCMB Interest Rate Decision/ Overnight Borrowing Rate (October)/ Overnight Lending Rate (October)/ Foreign Exchange Reserves (October/16)
· Poland Business Confidence (October)/ Retail Sales (September)/ M3 Money Supply (September)
· Switzerland SNB Monetary Policy Meeting Minutes
· UK CBI Business Optimism Index Q4/ CBI Industrial Trends Orders (October)
· Euro Area Consumer Confidence Flash (October)
· EARNINGS: Barclays, Atlas Copco, Bloomsbury Publishing, Hermes, Heathrow, L’Oreal, London Stock Exchange, Nestle, Rathbones, Kuehn + Nagel, Kering, Pearson
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Lebanon Inflation Rate (September)
· Palestine Balance of Trade (August)
· Israel Manufacturing Production (August)
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· South Africa National Treasury’s Medium-Term Budget Policy Statement/ Building Permits (August)
Friday, October 23, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Brazil IPCA mid-month CPI (October)
· Chile PPI (September)
· Mexico Economic Activity (August)
· Canada New Housing Price Index (September)/ Retail Sales Ex Autos (August)/ Retail Sales (August)/ Manufacturing Sales (September)/ Retail Sales (September)
· USA S&P Global Composite/Manufacturing/Services PMI Flash (October)/ Michigan Consumer Sentiment (October)/ Michigan 5 Year Inflation Expectations (October)/ Michigan Consumer Expectations (October)/ Michigan Current Conditions (October)/ Michigan Inflation Expectations (October)/ Baker Hughes Oil Rig Count (October/23)/ Baker Hughes Total Rigs Count (October/23)
· Uruguay Unemployment Rate (September)
· Paraguay Interest Rate Decision/ PPI (September)
· EARNINGS: American Express, Booz Allen, Flagstar, Autoliv
Asia
Political/Social Events –
· The Global Governance Forum begins in Xiongan, China. Around 180 international guests and experts from nearly 100 countries (spanning the Global South, Europe, and the U.S.), focusing on fields like artificial intelligence (AI), climate change, the United Nations, and trade. The idea for the forum came from President Xi Jinping, as part of a diplomatic push to reform and reshape the international system.
· The CSIS/NIKKEL Symposium begins in Tokyo. Japanese Defense Minister Shinjiro Koizumi will speak at the event alongside other experts on geopolitics and security in the Indo-Pacific region.
Economic & Financial Reports/Events –
· Australia S&P Global Composite/Services/Manufacturing PMI Flash (October)
· Japan Inflation Rate (September)/ Inflation Rate Ex-Food and Energy (September)/ S&P Global Composite/Services/ Manufacturing PMI Flash (October)
· Singapore URA Property Index Q3/ Inflation Rate (September)
· Indonesia M2 Money Supply (September)
· Thailand New Car Sales (September)
· Malaysia Coincident Index (August)/ Leading Index (August)
· India HSBC Composite/Manufacturing/Services PMI Flash (October)/ Foreign Exchange Reserves (October/16)
· Kazakhstan Interest Rate Decision
· Taiwan Industrial Production (September)/ Retail Sales (September)/ Unemployment Rate (September)/ M2 Money Supply (September)
· EARNINGS: Tata Motors, Infosys
Europe
Political/Social Events –
· Today is Republic Day in Hungary, a national holiday.
Economic & Financial Reports/Events –
· European Central Bank Board Member Patrick Montagner will give the keynote speech at the ESRB Standing Task Force on Scenario Design and Development (STF-SDaD) annual stress test workshop in Kraków, Poland.
· European Central Bank Board Member Piero Cipollone will participate in a fireside chat at the International Festival of Economics in Turin, Italy.
· UK GfK Consumer Confidence (October)/ Retail Sales (September)/ Retail Sales ex Fuel (September)/ S&P Global Composite/Manufacturing/Services PMI Flash (October)
· France S&P Global Composite/Manufacturing/Services PMI Flash (October)
· Germany S&P Global Composite/Manufacturing/Services PMI Flash (October)
· Poland Unemployment Rate (September)
· Euro Area S&P Global Composite/Manufacturing/Services PMI Flash (October)
· Slovenia Tourist Arrivals (September)
· Russia Interest Rate Decision/ CBR Press Conference
· EARNINGS: Volvo, SLB, Electrolux
Middle East
Political/Social Events –
· Today is Liberation Day in Libya, a national holiday.
Economic & Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Ghana PPI (September)
Saturday, October 24, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Canada’s British Columbia holds legislative assembly elections.
Economic & Financial Reports/Events –
· Nothing significant to report.
Asia
Political/Social Events –
· The Fuji Forum, sponsored by the Japan Center for Economic Research and the Japan Institute of International Affairs, begins in Tokyo. US and Japanese political and business leaders will gather to discuss the Japan-U.S. alliance, China and artificial intelligence.
· The 5th annual Trans-Pacific Sustainability Dialogue on advancing UN Sustainable Development Goal 12, which is about responsible and sustainable consumption and production patterns.
Economic & Financial Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· In France, Marine Le Pen’s Rassemblement National will hold its party congress in Paris.
· In Munich, German Chancellor and leader of the center-right Christian Democratic Union (CDU) Friedrich Merz and center-right Christian Social Union leader and Bavarian state premier Markus Söder attend the CSU’s convention.
Economic & Financial Reports/Events –
· Nothing significant to report.
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· Today is Independence Day in Zambia, a national holiday.
Economic & Financial Reports/Events –
· Nothing significant to report.
Sunday, October 25, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Brazil holds the second round of presidential elections.
Economic & Financial Reports/Events –
· Nothing significant to report.
Asia
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· Bulgaria holds presidential elections.
· Serbia holds parliamentary elections.
· British Summer Time officially ends, and European Daylight Savings Time begins. Clocks are set back one hour.
Economic & Financial Reports/Events –
· Nothing significant to report.
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Looking at the Weeks (and Months) Ahead
· October 19–23: COP13 Conference of Parties to the UN Convention Against Transnational Organized Crime (UNTOC) takes place in Vienna, Austria.
· October 25: Brazil holds its presidential runoff election.
· October 25–27: The UN Trade and Development (UNCTAD) 9th World Investment Forum takes place in Doha, Qatar.
· October 26-29: China holds the Fifth Plenary Session of the party’s 20th Central Committee, the most important political meeting for the Chinese Communist Party each year.
· October 27: Israel holds legislative elections, which will determine who will be the next prime minister.
· October 28-29: The 3rd Russia-Africa Summit is held in Moscow.
· October 30–31: The G20 Foreign Ministers meeting is held in Atlanta, Georgia.
· November 3: The US midterm elections are to be held. All 435 members of the US House of Representatives, 1/3 of the US Senate, 36 governors, and 6,000 state legislative seats will be decided.
· November 7: New Zealand holds general elections.
· November 9–20: The United Nations’ COP31 Conference will be held in Antalya, Turkey.
· November 18-19: The APEC Summit will be held in Shenzhen, China.
· November 29: Spain holds snap parliamentary elections.
· December 1: The UK takes over the presidency of the G20.
· December 2–4: The UN Water Conference is held in the UAE.
· December 10: The G20 Sherpa Meeting IV will be held in Miami, Florida.
· December 14–15: The G20 Leaders’ Summit will be held at the Trump National Doral in Miami, Florida.
2027
· January 1: The US takes over the presidency of the G7.
· January 16: Nigeria holds general elections.
· January 18–22: The World Economic Forum is held in Davos, Switzerland.
· January 30: Germany holds presidential elections.
· February 12 – 14: The Munich Security Conference is held in Munich, Germany.
· April 12–18: The IMF/World Bank Spring Meetings take place in Washington, D.C.
· April 18: France holds presidential elections. If needed, a second round has been set for May 2.