The Global Week Ahead
US – Iran Negotiations Drag On, Venezuelan President and US Secretary of State Discuss Oil With India, Colombia Holds Presidential Elections, and Markets Await Inflation Reports
May 24 - 31, 2026
While Washington is quiet this weekend in honor of Memorial Day, negotiations between the US and Iran continue, but seemingly in fits and starts. Both Iranian and US media reports suggested Friday that significant progress had been made toward finalizing a peace deal.
But as details began to leak out, President Trump faced sharp criticism from Republican lawmakers, including Senators Lindsey Graham (R-South Carolina) and Ted Cruz (R-Texas), who said a 60-day extension of the ceasefire “would be a disaster.” President Trump publicly fired back at them, but it appears he also started adjusting the draft terms of the deal being hammered out with Iran. Accords as part of the ultimate deal. And he seemed to even suggest in a Truth Social post that he would be open to Iran signing onto the Accords (which seems highly unlikely as official Iranian policy has long called for the outright eradication of Israel).
It is understood that many of those Arab countries have asked Trump to refrain from any military attacks this week as the Hajj is underway through May 29th with large numbers of Muslim pilgrims traveling in the region. Meanwhile, Iranian officials said no deal was “imminent,” but conceded that progress had been made.
Additionally, the US will host the next round of Israeli–Lebanese peace talks in Washington later this week. However, those talks may be canceled – and also impact the US-Iranian talks – after Israeli Prime Minister Benjamin Netanyahu ordered the Israeli military to step up attacks on Hezbollah forces after right-wing members of his cabinet demanded a full-scale resumption of Israel’s offensive in Lebanon.
In India this week, US Secretary of State Marco Rubio will attend Quad (Australia, India, Japan, and the US) meetings to discuss mutual defense issues. While Rubio is there, it is expected acting Venezuelan President Delcy Rodriquez will travel to New Delhi to meet with Indian Prime Minister Narendra Modi to discuss oil sales, a move strongly supported by the US. Iran is highly dependent on oil and gas from the Middle East and has been struggling to deal with shortages in recent weeks.
We are also watching for a possible visit to North Korea by Chinese President Xi Jinping. Xi’s security advance team is in Pyongyang now, making arrangements for a visit. Xi is reported to want to help broker better relations among North Korea, the US, and South Korea. But China no longer has the influence it once had over North Korea since the start of the Ukraine War, as North Korea has grown closer to Russia, sending large numbers of soldiers to fight and selling large quantities of munitions. It will be Xi’s first visit to the Hermit Kingdom since 2019.
Here in the Americas, Colombia is holding hotly contested presidential elections next Sunday to replace President Gustavo Petro, who is constitutionally barred from running again. The contest has effectively consolidated into a three-way race between candidates representing sharply divergent visions for the country: Iván Cepeda, who represents the far left and is polling around 44%, Abelardo De la Espriella, who represents the hard right and is polling in the mid 20% range, and Paloma Valencia, who represents the center-right, is floating in the 18 – 21% range in polls.
It is highly likely that a run-off will take place. The critical sub-contest is therefore between De la Espriella and Valencia for the second runoff slot, with conservative voters split between them, and the other ten candidates far behind. A weighted average of recent polls suggests that Cepeda could narrowly lose to Valencia and tie De la Espriella in a runoff scenario.
Also, this week, Pope Leo XIV releases his first encyclical -Magnifica Humanitas – on the use of artificial intelligence (AI). It is expected to warn society of the grave risks of unfettered AI for humanity. According to the New York Times, the Holy Father calls for: government regulation of the private companies that are driving the development of A.I., protection and retraining for workers whose jobs are threatened, education to help students think critically about the technology, action to protect children from violent, hypersexualized or fake information online that is often generated by A.I., and safeguards to ensure that humans, not artificial intelligence, remain responsible for all decisions regarding the use of weapons.
Looking at the global economic and financial markets radar screen this week, the big focus is on inflation reports from the US, the Eurozone, and Japan.
In the US, the April PCE will be released on Thursday. Also out on Thursday is the durable goods orders report. Both reports come after Tuesday’s Conference Board consumer confidence release.
In Asia this week, Japan’s Tokyo CPI print is out on Friday, as are the April industrial production and retail sales reports. China releases industrial profits on Wednesday.
Finally, in Europe this week, May inflation prints are out on Friday for the Eurozone, Germany, France, Italy, and Spain. All should be good reflective indicators of the economic damage caused so far by the Iran conflict. We will also get the European Central Bank minutes out this week.
Below is the rest of our detailed report of the major geopolitical and geoeconomic events in the coming week:
Sunday, May 24, 2026
Global
· Nothing significant to report.
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 –
· Cyprus holds parliamentary elections.
· Italy holds municipal elections.
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 –
· Guinea holds National Assembly elections.
Economic & Financial Reports/Events –
· Nothing significant to report.
Monday, May 25, 2026
Global
· Pope Leo XIV releases his new encyclical on AI – Magnifica Humanitas – warning of the risk of AI to civilization. You can read it HERE.
· The United Nations is closed for the holiday.
Americas
Political/Social Events –
· Today is Memorial Day, a national holiday. Financial markets and banks are closed.
· Today is Revolution Day in Argentina, a holiday.
· U.S. Secretary of State Marco Rubio will visit India through May 26th.
· The United States and Mexico hold their first official round of negotiations as part of a review of their trilateral trade deal with Canada (USMCA).
Economic & Financial Reports/Events –
· Brazil Current Account (April)/ Foreign Direct Investment (April)/ BCB Focus Market Readout
· Mexico Balance of Trade (April)/ Current Account Q1
· Canada Wholesale Sales (April)
· Paraguay PPI (April)
· Peru GDP Growth Rate Q1
Asia
Political/Social Events –
· Chinese President Xi Jinping appears to be preparing for a meeting with North Korean Leader Kim Jong Un in Pyongyang sometime this week (but no official announcement has been made, and the meeting may take place in early June – Reuters and other news services report Chinese security teams and advance teams have been in the North Korean capital preparing for a visit).
· Venezuela’s Interim President Delcy Rodriguez travels to India for talks with Prime Minister Narendra Modi. The meeting will mostly focus on oil supplies for India.
· Serbian President Aleksandar Vucic will visit China through May 28th.
· Singaporean Foreign Minister Vivian Balakrishnan will visit China through May 26th.
· Thai Prime Minister Anutin Charnivirakoul will visit France through May 27.
Economic & Financial Reports/Events –
· Thailand Imports/Exports/Balance of Trade (April)
· Malaysia Coincident Index (March/ Leading Index (March)/ PPI (April)
· Singapore Inflation Rate (April)
· Pakistan Interest Rate Decision
Europe
Political/Social Events –
· Today is Whit Monday, a holiday in most European countries. Most financial markets and banks are closed.
· A delegation of the Security and Defence Committee will travel to Canada to hold policy discussions with officials, political counterparts, and experts, on deepening EU-Canada defense cooperation, including the country’s participation in the SAFE program. MEPs will also discuss Canada's participation in peacekeeping operations, NATO, support for Ukraine, Arctic security, and the supply of critical raw materials.
· The UK Parliament is in recess until June 1.
Economic & Financial Reports/Events –
· Turkey Economic Confidence Index (May)
· Poland Retail Sales (April)/ M3 Money Supply (April)
· Slovenia Business Confidence (May)/ Tourist Arrivals (April)
· EARNINGS: Salvatore Ferragamo, Pharma Mar
Middle East
Political/Social Events –
· Today is Independence Day in Jordan, a national holiday.
Economic & Financial Reports/Events –
· Israel Interest Rate Decision
Africa
Political/Social Events –
· The African Development Bank will hold its annual meeting in the capital of the Republic of the Congo, Brazzaville, from May 29th.
Economic & Financial Reports/Events –
· Nothing significant to report.
Tuesday, May 26, 2026
Global
· The UN Security Council is scheduled to hold an open debate on the maintenance of international peace and security: Upholding the Purposes and Principles of the UN Charter and Strengthening the UN-centered International System. Chinese Foreign Minister Wang Yi will chair the session. UN Secretary-General António Guteres will deliver remarks.
· Muslims around the world will observe Eid al-Adha through May 30th.
Americas
Political/Social Events –
· The U.S. House of Representatives and the U.S. Senate are out of session this week.
· The Texas Republican senate primary run-off is held.
· NASA will hold a press conference to update on its moon base plans and highlight progress towards a sustained presence on the lunar surface.
· Today is Independence Day in Guyana, a national holiday.
· President Trump gets a medical and dental checkup at Walter Reed Hospital in Washington, D.C.
Economic & Financial Reports/Events –
· Nicolas Vincent, External Deputy Governor of the Bank of Canada, will speak before the Centre interuniversitaire de recherche en analyse des organisations (CIRANO).
· Brazil FGV Consumer Confidence (May)
· Canada Manufacturing Sales (April)
· USA Chicago Fed National Activity Index (April)/ S&P/Case-Shiller Home Price (March)/ House Price Index (March)/ S&P/Case-Shiller Home Price (March)/ CB Consumer Confidence (May)/ Dallas Fed Manufacturing Index (May)/ Money Supply (April)
· EARNINGS: AutoZone, Semtech
Asia
Political/Social Events –
· India will host the Quad foreign ministers meeting in New Delhi, with the ongoing Iran war expected to figure prominently in discussions. The gathering, to be presided over by Indian External Affairs Minister S. Jaishankar, is scheduled to be attended by U.S. Secretary of State Marco Rubio, Japanese Foreign Minister Toshimitsu Motegi and Australian Minister for Foreign Affairs Penny Wong.
· Philippine President Ferdinand Marcos, Jr. Marcos begins a four-day visit to Japan. This coincides with the 70th anniversary of the normalization of diplomatic ties between Manila and Tokyo. The visit will feature a summit with Japanese Prime Minister Sanae Takaichi, during which the two leaders are expected to upgrade relations to a comprehensive strategic partnership and discuss critical regional issues like maritime security and energy cooperation.
· The MRO Greater China Industry Show begins in Beijing, China. Approximately 200 domestic and international exhibitors will be there, focusing on “operation and maintenance of domestic large aircraft and the digital transformation of civil aviation.”
Economic & Financial Reports/Events –
· Singapore Current Account Q1/ GDP Growth Rate Q1/ Industrial Production (April)
· Sri Lanka Interest Rate Decision
· Japan Coincident Index (March)/ Leading Economic Index (March)
· Taiwan Industrial Production (April)/ Retail Sales (April)
· China FDI (YTD) (April)
Europe
Political/Social Events –
· German Economic Minster Katherina Reiche travels to Beijing, China for meetings. BASF CEO Markus Kamieth will accompany her. BASF recently opened a €9 billion complex in Zhanjiang – BASF’s largest investment ever.
· The EU’s 8th Accession Conference with Albania will be held in Brussels. The meeting will serve to confirm the fulfilment of the interim benchmarks by Albania and to set closing benchmarks for Cluster 1 'Fundamentals', including Chapters 23 - judiciary and fundamental rights, and 24 - justice, freedom and security, the functioning of democratic institutions, public administration reform and economic criteria. The Cluster also includes Chapters 5 – public procurement, 18 – statistics, and 32 - financial control.
· The EU Agriculture and Fisheries Council meets in Brussels. Ministers will discuss the availability and affordability of fertilizers in the EU, following the presentation of the Fertilizer Action Plan by the European Commission.
· The EU General Affairs Council meets in Brussels. Ministers will start preparations for the June European Council meeting by discussing the annotated draft agenda. The agenda includes a discussion among the European Council on Ukraine, the Middle East, the next multiannual financial framework, overall global economic challenges, common European defense and security issues, and migration.
· The UK Parliament is out of session this week.
· Today is Independence Day in Georgia, a holiday.
Economic & Financial Reports/Events –
· The European Central Bank publishes its Consolidated Financial Statement for the Eurosystem.
· The European Central Bank presents “Financial Stability Review Special Feature: Stress in global private credit and its implications for euro area financial stability.”
· UK BRC Shop Price Inflation (May)/ CBI Distributive Trades (May)
· Ireland Consumer Confidence (May)
· Spain PPI (April)
· Poland Unemployment Rate (April)
· Hungary Deposit Interest Rate (May)/ Interest Rate Decision
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· The Finance Magnates Africa Summit, which focuses on trading, takes place in Cape Town.
Economic & Financial Reports/Events –
· South Africa Leading Business Cycle Indicator (March)
Wednesday, May 27, 2026
Global
· The United Nations is closed for an official holiday.
Americas
Political/Social Events –
· Canadian Prime Minister Mark Carney travels to New York for a two-day set of meeting with institutional investors, CEOs, and other business leaders. While there, he will address the Economic Club of New York on his economic agenda.
Economic & Financial Reports/Events –
· Federal Reserve Board Vice Chair for Monetary Policy Philip N. Jefferson gives a speech on Global Economic Developments and the U.S. Economy at the Bank of Japan-Institute for Monetary and Economic Studies Conference, Tokyo, Japan.
· Federal Reserve Board Governor Lisa D. Cook gives a speech on AI, the economy, and the financial system at the Stanford Institute for Economic Policy Research (SIEPR) Policy Forum, Stanford, California.
· Dallas Federal Reserve Bank President Lorie Logan participates in “Policy Panel Discussion 1: Monetary Policy and Imbalances" before the 2026 Monetary Policy from New Perspectives Conference hosted by the Bank of Japan Institute for Monetary and Economic Studies.
· USA MBA 30-Year Mortgage Rate (May/22)/ MBA Mortgage Applications (May/22)/ MBA Mortgage Market Index (May/22)/ MBA Mortgage Refinance Index (May/22)/ MBA Purchase Index (May/22)/ ADP Employment Change Weekly/ Redbook (May/23)/ Richmond Fed Manufacturing Index (May)/ Richmond Fed Manufacturing Shipments Index (May)/ Richmond Fed Services Revenues Index (May)/ Dallas Fed Services Index (May)/ Dallas Fed Services Revenues Index (May)/ API Crude Oil Stock Change (May/22)
· Brazil IPCA mid-month CPI (May)
· EARNINGS: Salesforce, Bank of Montreal, Bank of Nova Scotia, National Bank of Canada, Agilent, HP, Dick’s Sporting Goods, Best Buy, EQB, Marvell
Asia
Political/Social Events –
· Hong Kong International Airport opens an expanded Terminal 2, aiming to enhance its competitiveness as a regional hub. The airport says about 15 carriers will operate out of the new facility, flying mostly short-haul and regional routes.
Economic & Financial Reports/Events –
· The Bank of Japan-Institute for Monetary and Economic Studies Conference will begin in Tokyo, Japan through May 28th. Bank of Japan Governor Kazuo Ueda delivers opening remarks.
· South Korea Business Confidence (May)
· Australia Construction Work Done Q1/ Inflation Rate (April)/ RBA Trimmed Mean CPI (April)/ CPI (April)/ RBA Weighted Median CPI (April)/ RBA Weighted Median CPI (April)/
· China Industrial Profits (YTD) (April)
· New Zealand RBNZ Interest Rate Decision/ RBNZ Press Conference
· Philippines Budget Balance (April)
· Japan BoJ Gov Ueda Speech
· Taiwan Consumer Confidence (May)
Europe
Political/Social Events –
· The 62nd European Economic Area Council meets in Brussels. Under the Presidency of Michael Damianos, Minister of Energy, Commerce and Industry of the Republic of Cyprus, representing the Presidency of the Council of the EU. The meeting will be attended by Espen Barth Eide, Minister of Foreign Affairs of Norway Sabine Monauni, Minister of Foreign Affairs, Environment and Culture of Liechtenstein, and Martin Eyjólfsson, Permanent Secretary of State of the Ministry for Foreign Affairs of Iceland, as well as by representatives of the European Commission and the European External Action Service. The members of the EEA Council will discuss the overall functioning of the Agreement on the European Economic Area (EEA Agreement) and hold an orientation debate on ‘Ensuring competitiveness and green growth in the Internal Market.”
· There will be an informal meeting of EU Foreign Affairs Ministers - Gymnich through May 28th in Limassol, Cyprus.
· Members of the European Parliament’s s standing delegation for relations with China will travel to Beijing for the 43rd EU-China interparliamentary meeting with counterparts from the National People’s Congress. This is the first such gathering held in China following the lifting of Chinese sanctions against European lawmakers, political bodies, researchers and organizations.
· UK energy regulator Ofgem announces an update to the energy price cap for the period July 1 to September 30th.
Economic & Financial Reports/Events –
· Euro Area New Car Registrations (April)
· France Consumer Confidence (May)/ Unemployment Benefit Claims (April)/Job Seekers Total (April)
· Italy Industrial Sales (March)
· Switzerland Economic Sentiment Index (May)
· Russia Industrial Production (April)
· EARNINGS: Manchester United
Middle East
Political/Social Events –
· Nothing significant to report.
Economic &Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· The Healthcare Innovation Summit Africa will be held in Johannesburg, South Africa through May 28th.
Economic & Financial Reports/Events –
· Nothing significant to report.
Thursday, May 28, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Chinese Foreign Minister Wang Yi will visit Canada through May 30th. This is the first time a Chinese foreign minister will have visited China in 10 years. He will meet with Canadian Foreign Minister Anita Anand to discuss the recently updated Canada-China Strategic Partnership.
· US Vice President JD Vance speaks at the US Air Force Academy’s commencement ceremony in Colorado.
Economic & Financial Reports/Events –
· The Bank of Canada releases the 2026 Financial Stability Report.
· New York Federal Reserve Bank President John Williams gives keynote before the Reykjavík Economic Conference organized by the Central Bank of Iceland and the Center for International Macroeconomics at Northwestern University in Reykjavik, Iceland.
· Brazil Bank Lending (April)/ Unemployment Rate (April)/ PPI (April)
· Mexico Unemployment Rate (April)
· USA Building Permits (April)/ Durable Goods Orders (April)/ GDP Growth Rate 2nd Est Q1/ Personal Income (April)/ Personal Spending (April)/ Corporate Profits Q1/ Durable Goods Orders Ex Trans (April)/ GDP Price Index 2nd Est Q1/ Initial Jobless Claims (May/23)/ PCE Price Index (April)/ Continuing Jobless Claims (May/16)/ PCE Prices 2nd Est Q1/ Durable Goods Orders ex Defense (April)/ GDP Sales 2nd Est Q1/ Jobless Claims 4-week Average (May/23)/ Non-Defense Goods Orders Ex Air (April)/ Real Consumer Spending 2nd Est Q1/ Real Personal Spending (April)/ New Home Sales (April)/ EIA Crude Oil/Gasoline Stocks Change (May/22)/ 15-Year Mortgage Rate (May/28)/ 30-Year Mortgage Rate (May/28)/ Fed Balance Sheet (May/27)
· Canada Current Account Q1/ Average Weekly Earnings (March)/ BoC Financial Stability Report
· Columbia Business Confidence (April)
· EARNINGS: Royal Bank of Canada, TD Bank, CIBC, Dell Technologies, Autodesk, Dollar Tree, NetApp, Gap, BRP
Asia
Political/Social Events –
· The Humanoid Summit begins in Tokyo, Japan. The global conference is dedicated to humanoid robots and physical artificial intelligence. The two-day event will feature live robot demonstrations and speeches by industry leaders, with participants from companies including Google DeepMind, Boston Dynamics and Toyota Motor.
· Kazakhstan will host a Eurasian Economic Union summit in Astana. Russian President Vladimir Putin is expected to attend.
· A new ferry service is scheduled to connect Taiwan's Keelung, near Taipei, with the picturesque island of Ishigaki in Japan's Okinawa. The first sailing is due to depart late Thursday and arrive around 8 a.m. the next morning. The ferry will initially operate once a week on a trial basis, before expanding to two weekly round trips.
· Azerbaijan celebrates the founding of their democracy today.
Economic & Financial Reports/Events –
· Japan Stock Investment by Foreigners (May/23)/ Housing Starts (April)/ Construction Orders (April)
· New Zealand NZ Business Confidence (May)/ Budget 2026
· South Korea Interest Rate Decision
· Australia Building Capital Expenditure Q1/ Household Spending (April)/ Plant Machinery Capital Expenditure Q1/ Private Capital Expenditure Q1
· Thailand New Car Sales (April)/ Industrial Production (April)
· Hong Kong Imports/Exports/Balance of Trade (April)
Europe
Political/Social Events –
· The Finance Ministers of France, Germany, Italy, the Netherlands, Poland and Spain will issue a joint statement outlining political compromises aimed at advancing the bloc's Savings and Investments Union. Many observers see the effort as a step toward breaking the political deadlocks preventing the bloc from creating a U.S.-style financial market in a crunch meeting later this month.
· The EU Competitiveness Council (Internal Market and Industry) meets in Brussels. Ministers will hold a policy debate on the Industrial Accelerator Act: how best to leverage access to the Single Market through European preference and low-carbon requirements. The Industrial Accelerator Act (IAA) is a flagship legislative proposal aimed at strengthening European industrial competitiveness with the objective that by 2035 20% of the EU’s GDP should come from the industrial sector. It includes measures such as speeding up permitting, boosting demand for low carbon or "Made in EU" products, and controlling foreign investment. It was adopted by the Commission on March 4, 2026. They will also hold a discussion on the 28th Corporate Legal Framework. They will then move to approve a Council conclusion on “building a sustainable and competitive tourism for the future.” The Council will then move to discuss the impact of the crisis in the Middle East on the EU tourism sector as well as key challenges facing the European Chemical industry.
· The second day of informal meeting of EU Foreign Affairs Ministers – Gymnich takes places in Limassol, Cyprus.
Economic & Financial Reports/Events –
· European Central Bank President Christine Lagarde gives opening remarks at the 28th meeting of Francophone Central Bank Governors in Phnom Penh, Cambodia.
· European Central Bank Board Member Piero Cipollone gives a speech followed by Q&A at a public event entitled "Euro Digitale e Sovranità Europea" organized by Istituto Affari Internazionali in Rome, Italy.
· European Central Bank Chief Economist Philip R. Lane participates in a fireside chat to discuss the “Monetary Policy from New Perspectives" organized by Bank of Japan and Japan-Institute for Monetary and Economic Studies in Tokyo, Japan. Later, he gives a pre-recorded video address to the External Statistics Conference jointly organized by Irving Fisher Committee on Central Bank Statistics, ECB and National Bank of Poland in Krakow, Poland.
· European Central Bank Board Member Isabel Schnabel gives a public lecture as part of the Selten Salon organized by ECONtribute in Cologne, Germany.
· Bank of England Deputy Governor Sarah Breeden participates in a fireside chat at the 58th International Capital Market Association annual general meeting and conference in London.
· The European Central Bank account of the last monetary policy meeting is published.
· UK Car Production (April)
· Euro Area Economic Sentiment (May)/ Consumer Confidence (May)/ Consumer Inflation Expectations (May)/ Industrial Sentiment (May)/ Selling Price Expectations (May)/ Services Sentiment (May)
· Hungary Unemployment Rate (April)
· Switzerland Non-Farm Payrolls Q1
· France PPI (April)
· Spain Retail Sales (April)/ Business Confidence (May)
· Slovakia Business Confidence (May)/ Consumer Confidence (May)
· Italy Business Confidence (May)/ Consumer Confidence (May)/ PPI (April)
· Slovenia Retail Sales (April)
· Ireland Retail Sales (April)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Israel Manufacturing Production (March)
Africa
Political/Social Events –
· Today is National Day in Ethiopia, a national holiday.
Economic & Financial Reports/Events –
· South Africa PPI (April)/ Interest Rate Decision/ Prime Overdraft Rate
Friday, May 29, 2026
Global
· The UN Security Council is scheduled to vote on a draft resolution on South Sudan sanctions, followed by consultations on the 1718 Committee (regarding North Korea).
· G7 Digital Ministers meet in Paris, France.
Americas
Political/Social Events –
· The U.S. hosts "security track" discussions between Israel and Lebanon in Washington, D.C.
Economic & Financial Reports/Events –
· Philadelphia Federal Reserve Bank President Anna Paulson speaks on the economic outlook before the Chamber of Commerce Southern New Jersey.
· Brazil Government Budget Value (April)/ Gross Debt to GDP (April)/ Nominal Budget Balance (April)/ GDP Growth Rate Q1/ Net Payrolls (April)
· Canada GDP Growth Rate Annualized Q1/ GDP (March)/ GDP (April)/ GDP Implicit Price Q1/ Budget Balance (March)
· USA Goods Trade Balance Adv (April)/ Retail Inventories Ex Autos Adv (April)/ Wholesale Inventories Adv (April)/Chicago PMI (May)/ Baker Hughes Oil Rig Count (May/29)
· Chile Copper Production (April)/ Industrial Production (April)/ Manufacturing Production (April)/ Retail Sales (April)/ Unemployment Rate (April)
· Uruguay Balance of Trade (April)
· Columbia Unemployment Rate (April)/ Cement Production (April)
· Mexico Fiscal Balance (April)
Asia
Political/Social Events –
· The Shangri-La Dialogue beings in Singapore. Asia's largest annual defense conference will feature U.S. Defense Secretary Pete Hegseth, while top military generals and admirals and security analysts are expected to discuss global geopolitical tensions and Asia's maritime security. An AUKUS defense ministers meeting involving Australia, the U.K. and the U.S. is also planned on the sidelines of the conference.
Economic & Financial Reports/Events –
· New Zealand ANZ Roy Morgan Consumer Confidence (May)/ ANZ Business Confidence (May)
· South Korea Industrial Production (April)/ Retail Sales (April)
· Japan Unemployment Rate (April)/ Jobs/applications ratio (April)/ Tokyo CPI (May)/ Tokyo CPI Ex Food and Energy (May)/ Tokyo CPI (May)/ Industrial Production (April)/ Retail Sales (April)/ Industrial Production (April)/ Consumer Confidence (May)
· Philippines Imports/Exports/Balance of Trade (April)/ PPI (April)/ Business Confidence (April)
· Australia Housing Credit (April)/ Private Sector Credit (April)
· Singapore Bank Lending (April)/Import/Export Prices (April)/ PPI (April)
· Malaysia M3 Money Supply (April)
· Thailand Current Account (April)/ Private Consumption (April)/ Private Investment (April)/ Retail Sales (March)
· Taiwan GDP Growth Rate Q1
· Sri Lanka Inflation Rate (May)/ PPI (April)/ Balance of Trade (April)
· India GDP Growth Rate Q1/ Fiscal Year GDP Growth 3rd Est 2025-26/ Government Budget Value (March)/ Government Budget Value (April)/ Bank Loan Growth (May/15)/ Deposit Growth (May/15)/ Foreign Exchange Reserves (May/22)/ M3 Money Supply (May/15)
· EARNINGS: JTB
Europe
Political/Social Events –
· The EU Competitiveness Council (Research and Space) meets in Brussels. Ministers will hold a policy debate on the legislative measures linked to the 10th framework program for research and innovation 2028-2034, also known as the Horizon Europe package. Horizon Europe is the EU’s key funding program for research and innovation. On 16 July 2025, the European Commission put forward its proposal for the 10th framework program, with a €175 billion budget, as part of the 2028-2034 multiannual financial framework (MFF). The will also move to adopt a Council recommendation for an EU framework for science diplomacy.
· The Nato Parliamentary Assembly Spring Session begins in Lithuania.
Economic & Financial Reports/Events –
· Bank of England Governor Andrew Bailey gives a speech at the Reykjavik Economic Conference 2026, Reykjavik, Iceland.
· Germany Import Prices (April)/ Unemployed Persons (May)/ Unemployment Change (May)/ Unemployment Rate (May)/ Baden Wuerttemberg CPI (May)/ Bavaria CPI (May)/ Brandenburg CPI (May)/ Hesse CPI (May)/ North Rhine Westphalia CPI (May)/ Saxony CPI (May)/ Inflation Rate (May)/ Harmonized Inflation Rate (May)
· UK Nationwide Housing Prices (May)
· Hungary Balance of Trade (April)/ PPI (April)
· France Inflation Rate (May)/ GDP Growth Rate Final Q1/ Harmonized Inflation Rate (May)// Household Consumption (April)/ Non-Farm Payrolls Q1
· Spain Inflation Rate (May)/ Inflation Rate (May)/ Harmonized Inflation Rate (May)/ Current Account (March)
· Switzerland KOF Leading Indicators (May)
· Poland Inflation Rate (May)
· Euro Area Loans to Companies (April)/ Loans to Households (April)/ M3 Money Supply (April)
· Ireland Harmonized Inflation Rate (May)
· Italy Unemployment Rate (April)/ Inflation Rate (May)/ Harmonized Inflation Rate (May)/ GDP Growth Rate Q1
· Slovenia Harmonized Inflation Rate (May)/ Inflation Rate (May)
· Greece PPI (April)/ Retail Sales (March)/ Unemployment Rate (April)
· Serbia Balance of Trade (April)/ Industrial Production (April)/ Retail Sales (April)/ Unemployment Rate Q1
· Ukraine Current Account (April)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Saudi Arabia M3 Money Supply (April)/ Private Bank Lending (April)
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· South Africa M3 Money Supply (April)/ Private Sector Credit (April)/ Balance of Trade (April)/ Budget Balance (April)
· Nigeria Foreign Exchange Reserves (May)
· Zimbabwe Inflation Rate (May)
· Kenya Inflation Rate (May)
· Angola GDP Growth Rate Q1
Saturday, May 30, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Federal Reserve Board Vice Chair for Supervision Speech Michelle W. Bowman gives a speech on monetary policy at the Reykjavik Economic Conference 2026, Reykjavik, Iceland.
Asia
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· Malta holds parliamentary elections.
Economic & Financial Reports/Events –
· Bank of England Member of the Policy Committee Catherine L Mann participates on a panel at the 32nd Dubrovnik Economic Conference ‘Central bank independence under attack’, Dubrovnik, Croatia.
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.
Sunday, May 31, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Colombia holds presidential elections. Current polling points to a runoff between left wing candidate Ivan Cepeda and a right-wing contender. The first round will determine if establishment figure, Paloma Valencia or radical outsider, Abelardo de la Espriella, advance to the runoff. Valencia would prove more attractive to centrist swing voters. Her victory would reinforce our outlook that the opposition wins the presidency.
Economic & Financial Reports/Events –
· Federal Reserve Board Governor Christopher J. Waller gives a speech on stablecoins at the 32nd Dubrovnik Economic Conference, Orašac, Croatia
· Federal Reserve Board Governor Jay Powell gives acceptance remarks at the John F. Kennedy Profile in Courage Award Ceremony, Boston, Mass.
Asia
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· China NBS Manufacturing PMI (May)/ NBS Non-Manufacturing PMI (May)/ NBS General PMI (May)
Europe
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Bank of England Member of the Policy Committee Megan Greene: Panel at the 32nd Dubrovnic Economics Conference ‘Stablecoins and monetary policy’, Dubrovnik, Croatia.
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Africa
Political/Social Events –
· Guinea holds elections for its National Assembly as well as municipal elections.
Economic & Financial Reports/Events –
· Nothing significant to report.