The Global Week Ahead
Houthi-Saudi Clashes Escalate and Red Sea Shipping Comes Under Greater Threat, Canadian Prime Minister Carney to Pitch “Associate EU Membership,” and a Big Week at the Federal Reserve, the Bank of Japan, and the Bank of England
September 13 -20, 2026
It is going to be a very busy week ahead. Between an anticipated Federal Reserve interest rate hike, the escalating Saudi-Houthi conflict threatening all Red Sea shipping, understanding the implications of the last-minute cancellation of an Iran-Gulf State leaders meeting to discuss a new Strait of Hormuz passageway, markets will likely struggle to keep pace with the rapid geopolitical shifts.
Last week’s Houthi attacks on Saudi Arabia's overland east-west oil pipeline (threatening more than 4% of global oil production) along with the Houthi’s lightning-strike victories over Saudi-and UAE-backed Yemeni forces are proving to be a significant game-changer to the already tense regional situation. Houthi forces were able to quickly capture the strategically located Yemeni city of Mokha along with Mayun Island. The island – also known as Perim – sits directly in the middle of the Bab al-Mandab Strait, giving Houthis effective control of the southern entrance to the Red Sea. Additionally, the Houthi advances now position the Iranian proxy forces to launch new attacks on several Saudi cities close to the Yemen border. The question now is what do Saudi and UAE military forces do in response, and will the US support the two Gulf State allies by launching new attacks on Iran as well as attacking Houthi forces on Mayun Island and in Southern Yemen to protect the Red Sea?
One immediate result of the Houthi advances is the abrupt cancellation Sunday night of a high-level meeting hosted by Oman between Iran and seven Gulf State leaders. The leaders were going to discuss a possible temporary new passageway through the Strait of Hormuz. Markets had been hoping the meeting would allow for further freeing up of shipping through the Strait.
Also this week, Canadian Prime Minister Mark Carney will travel to Strasbourg, France, to give an extraordinary address to the European Parliament. Carney's speech – which comes one day after European Commission President Ursula von der Leyen's annual State of the EU speech – is expected to propose that the EU grant Canada "Associate Membership" to strengthen bilateral trade ties in the wake of the ongoing trade fights with President Trump. His visit and speech will also help lay the groundwork for the EU-Canadian Summit being held in Canada in October.
It will be a very busy week for Carney. He travels to France after hosting the Canada Investment Summit 2026 in Toronto, which will bring together more than 250 top global finance CEOs and aims to attract C$1 trillion in long-horizon capital over five years.
Also this week in Europe, the International Atomic Energy Agency (IAEA) will hold its General Conference in Vienna. The agenda will heavily focus on Iran's and North Korea's nuclear programs, and we are also likely to learn more about Iran's apparent renewed efforts to rebuild its nuclear program at Pickaxe Mountain.
Two important elections are scheduled this week. Voting for Russia’s State Duma (parliament) begins Friday. The strongly pro-Putin legislature is unlikely to change because the Kremlin controls the official results. However, polls show greater voter frustration with the Ukraine War and its mounting impact on the Russian economy. This has led to the ruling United Russia Party going into the elections with some of the lowest approval ratings ever.
The other election is likely to be much more impactful to markets: Next Sunday, Germany will see the next two sets of state elections - Berlin and Mecklenburg-Western Pomerania - following the shock elections in Saxony-Anhalt that gave the far-right AfD Party its first major victory. Polls indicate the AfD is leading in Mecklenburg-Western Pomerania, while the center-left Social Democrats (SPD) are leading in Berlin.
Finally, we would note that the BRICS Leaders' Summit concluded on Sunday in New Delhi. The leaders of China, Russia, India, Iran, and the rest of the 11-member BRICS nations presented a united front in the final communique calling for "maximum restraint" in the Middle East while condemning "deliberate attacks on civilian infrastructure and peaceful nuclear facilities" – a thinly-veiled swipe at President Trump and US policy in the region.
On the global economic and financial radar this week, the biggest event for markets is the Federal Reserve Board's Open Market Committee meeting. Fed Chair Kevin Warsh and the rest of the Committee are under market pressure to raise interest rates amid growing inflation worries and surging Treasury yields. But Warsh is clearly stuck between a rock and a hard place as President Trump continues to demand the Fed go the other way and cut rates. The President has also warned the Fed that if it does not lower interest rates, he will "stop trading with countries with which we have a deficit."
We expect the pressure on Warsh and the Fed to grow on Tuesday when Treasury Secretary Scott Bessent testifies before the House Financial Services Committee on the state of the international financial system and the overall economy. He's expected to echo President Trump in pushing for no rate increase.
Also this week, the Bank of Japan meets and is likely to raise rates by 25 basis points amid growing external economic pressures, including oil prices, as well as pressure to address ongoing foreign exchange stability issues.
Additionally, the Bank of England meets this week, but consensus suggests it will hold rates.
Among the week's major economic releases, the US will release August retail sales figures on Wednesday and industrial production numbers on Friday.
In Asia this week, Japan's trade data and core machine orders are due Wednesday, and the August CPI print is due Friday. China releases industrial production data, retail sales, and fixed-asset investments on Tuesday.
In Europe, Germany's September ZEW survey is out on Tuesday, the UK's labor market data is released on Tuesday, the August CPI print is out on Wednesday, and retail sales and the GfK consumer confidence index are out on Friday.
Below is our detailed report on all the other major geopolitical and economic events for the coming week:
Sunday, September 13, 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 –
· Voting for the Okinawa gubernatorial election will take place. The race is between the incumbent governor, Denny Tamaki, who is backed by the opposition parties, and a challenger supported by parties including the ruling Liberal Democratic Party. The crucial election will influence the direction of the relocation of a US military base within the prefecture.
Economic & Financial Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· The UK’s Trade Unions Congress (TUC) begins in Brighton and runs through September 16th. TUC brings together 47 member unions to discuss policy and advocacy positions, important to the ruling Labour Party agenda.
· Sweden holds parliamentary elections. All 349 members of the Riksdag are up for election.
· The EU Arctic Summit begins in Rovaniemi, Finland. Hosted by Finish Prime Minister Petteri Orpa, the event runs through September 14th and brings together an invited group of EU leaders to discuss a common strategic approach to the Arctic region “as its geopolitical significance continues to grow rapidly.” The Northern Sea Route (NSR), which runs along Russia’s Arctic coast, has seen a significant spike (more than a 40% increase year over year) in commercial shipping through the area with the melting and breaking up of parts of the Arctic cap.
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 –
· The 69th Commonwealth Parliamentary Conference will take place in Cape Town, South Africa.
Economic & Financial Reports/Events –
· Nothing significant to report.
Monday, September 14, 2026
Global
· The 70th International Atomic Energy Agency (IAEA) Conference will be held in Vienna, Austria and run through September 19th.
· The G20 Energy Ministerial takes place in Houston Texas through September 16th.
Americas
Political/Social Events –
· Canadian Prime Minister Mark Carney hosts the Canada Investment Summit 2026 in Toronto. The event will bring together more than 250 top global finance CEOs and aims to attract C$1 trillion in long-horizon capital over five years. Among them will be BlackRock CEO Larry Fink and Blackstone CEO John Gray. On the sidelines of the Summit will be two major private events: The Milken Institute Global Dialogue and the Canadian Global Growth Forum.
· The US Senate returns from its August recess.
· Brazil holds its second presidential debate.
Economic & Financial Reports/Events –
· Canada Inflation Rate (August)/ Capacity Utilization (July)/ CPI Common (August)/ CPI Median (August)/ CPI Trimmed-Mean (August)/ Manufacturing Sales (July)
· Brazil Business Confidence (September)/ BCB Focus Market Readout
· Ecuador Inflation Rate (August)
Asia
Political/Social Events –
· The ASEAN Economic Ministers meeting takes place in Manila through September 15th.
· The autonomous region of Bangsamoro in the Philippines holds its first permanent government. More than 2 million voters are expected to vote in the southern Philippine’s region, and it is hoped the election of the autonomous region government will help bring peace to the heavily Muslim area after decades of conflict.
· The Thai king and queen will make a state visit to Vietnam through September 16th to help celebrate more than 50 years of diplomatic relations between the two countries.
Economic & Financial Reports/Events –
· New Zealand Composite NZ PCI (August)/ Services NZ PSI (August)/ Visitor Arrivals (July)
· Japan Capacity Utilization (July)/ Industrial Production (July)
· India WPI Food Index (August)/ WPI Fuel (August)/ WPI Inflation (August)/ WPI Manufacturing (August)/ Inflation Rate (August)
· Hong Kong Industrial Production Q2
· Pakistan Interest Rate Decision
Europe
Political/Social Events –
· There will be an informal meeting of EU Ministers responsible for cohesion policy through September 15th in Dublin, Ireland.
· The European Arctic Summit takes place in Rovaniemi, Finland. The meeting, which runs through September 14th, will be hosted by Finish Prime Minister Petteri Orpo. The agenda will cover ways to strengthen the EU’s common strategic approach to the Arctic region which has seen a large spike in commercial shipping – mostly by China – in the last few years. Attendees will include Chancellor of Germany Friedrich Merz, Prime Minister of Denmark Mette Frederiksen, Prime Minister of Estonia Kristen Michal, Prime Minister of Latvia Andris Kulbergs, President of Lithuania Gitanas Nausėda, President of Romania Nicușor Dan and Minister for Europe and Foreign Affairs of France Jean-Noël Barrot. President of the European Council António Costa and High Representative of the Union for Foreign Affairs, Security Policy Kaja Kallas.
· NATO Secretary General, Mark Rutte, will receive the Prime Minister of Slovenia, Janez Janša, at NATO Headquarters, in Brussels.
· The NATO Digital Backbone eXperimentation (DiBaX) – NATO’s annual research and testing event designed to advance security military communications, multi-domain interoperability, and next-generation battlefield technology -- will be held in in Riga, Latvia.
Economic & Financial Reports/Events –
· European Central Bank President Christine Lagarde gives a keynote speech and participates in a panel discussion at the "Hofburg im Dialog – Economy, Europe, Resilience" in Vienna, Austria.
· European Central Bank Board Member Isabel Schnabel gives a keynote speech at the Federal Ministry for Economic Affairs and Energy (BMWE) Symposium on European Competitiveness in Berlin, Germany.
· European Central Bank Board Member Piero Cipollone gives a speech at an event at House of the Euro in Brussels, Belgium.
· European Central Bank Board Member Pedro Machado participates in a fireside chat at the Barclays 24th Annual Global Financial Services Conference 2026 in New York,
· Hungary Construction Output (July)
· Switzerland Producer & Import Prices (August)
· Poland Balance of Trade (July)/ Current Account (July)
· EARNINGS: MP Evans Group (HY), Global Data (HY), Greencoat Renewables (HY)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Israel Imports/Exports/Balance of Trade (August)/ Current Account Q2
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Tuesday, September 15, 2026
Global
· The World Trade Organization publishes its latest World Trade Report on trends and policy challenges on the opening day of the WTO Annual Public Forum.
Americas
Political/Social Events –
· US tariff modifications on Canadian goods go into effect.
· US Treasury Secretary Scott Bessent will give the “Annual Testimony of the Secretary of the Treasury on the State of the International Financial System” before the House Financial Services Committee.
· The US Congress returns from the Labor Day holiday. The House of Representatives is expected to vote this week on a Russian sanctions bill which has already passed the Senate in July.
· Delaware holds primary elections.
· Today is Independence Day in Costa Rica, a national holiday.
· Today is Independence Cay in El Salvador, a national holiday.
· Today is Independence Day in Guatemala, a national holiday.
· Today is Independence Day in Honduras, a national holiday.
Economic & Financial Reports/Events –
· Brazil Retail Sales (July)
· USA ADP Employment Change Weekly/ NY Empire State Manufacturing Index (September)/ Redbook (September/12)/ NOPA Crush Report/ API Crude Oil Stock Change (September/11)
· Canada New Motor Vehicle Sales (July)/ Wholesale Sales (July)
· Paraguay Consumer Confidence (August)
· Uruguay GDP Growth Rate Q2
· Peru GDP Growth Rate (July)/ Unemployment Rate (August)
Asia
Political/Social Events –
· The Xiangshan Defense Forum and the 4th China-Africa Peace and Security Forum will take place in China. This is the country's top security and military meeting involving defense officials and scholars from around the world. The three-day event is expected to feature discussions on international order and strategic stability, as well as dialogues on regional hotspots like Ukraine and the Middle East. Washington is reportedly sending an official from the Pentagon after dispatching a military attaché last year.
· The first meeting of the Conciliation Commission under the U.N. Convention on the Law of the Sea between Thailand and Cambodia starts in Singapore. The Thai delegation will be led by Deputy Prime Minister and Foreign Minister Sihasak Phuangketkeow.
· In China, A new enforcement regime takes effect on the borders, giving immigration officers broader powers that some worry could make it harder to leave or enter the country. According to Nikkei News, it remains to be seen how the measures will be implemented, tougher questioning and demands for supporting documentation to prove one's reasons for traveling are expected. The stricter screenings come as China also strengthens its global tax dragnet.
Economic & Financial Reports/Events –
· South Korea Import/Export Prices (August)
· New Zealand Electronic Retail Card Spending (August)
· China House Price Index (August)/ Industrial Production (August)/ Retail Sales (August)/ Fixed Asset Investment (YTD) (August)/ Unemployment Rate (August)/ New Yuan Loans (August)/ M2 Money Supply (August)/ Outstanding Loan Growth (August)/ Total Social Financing (August)
· India Passenger Vehicles Sales (August)/ Unemployment Rate (August)
· Philippines Cash Remittances (July)
· Japan Tertiary Industry Index (July)
· Turkey Budget Balance (August)
· Sri Lanka GDP Growth Rate Q2
Europe
Political/Social Events –
· German Defense Minister Boris Pistorius will meet with US Defense Secretary Pete Hegseth at the Pentagon in Washington, D.C. The meeting will take place as part of Pistorius’ trip to the US for a rollout of F-35 warplanes purchased by Germany
· Members of the European Parliament will hear from EU Foreign Policy Chief Kaja Kallas on the recent escalation of Russia’s hybrid attacks against member states and how to protect the EU’s territorial integrity, and critical security and defense infrastructure. The Parliament will then vote on a resolution on Wednesday.
Economic & Financial Reports/Events –
· European Central Bank Board Member Claudia Buch gives the opening keynote speech at the Watching European Financial Market Regulation and Supervision Conference organized by the Leibniz Institute for Financial Research SAFE and the Center for Advanced Studies on the Foundations of Law and Finance at Goethe University in Frankfurt, Germany.
· European Central Bank Board Member Piero Cipollone participates in panel discussion at conference on Watching European Financial Market Regulation and Supervision organized by the Leibniz Institute for Financial Research SAFE and the Center for Advanced Studies on the Foundations of Law and Finance at Goethe University in Frankfurt, Germany.
· European Central Bank Board Member Isabel Schnabel participate in a dinner exchange with members of the SPD Economic Forum in Frankfurt, Germany.
· Bank of England Member of the External Financial Policy Committee Carolyn Wilkins gives a speech at Queens University in Belfast, Northern Ireland.
· Germany Wholesale Prices (August)/ ZEW Economic Sentiment Index (September)/ ZEW Current Conditions (September)
· Romania Industrial Production (July)/ Current Account (July)
· UK Unemployment Rate (July)/ Average Earnings incl. Bonus (3Mo/Yr) (July)/ Employment Change (July)/ Average Earnings excl. Bonus (3Mo/Yr) (July)/ Claimant Count Change (August)/ HMRC Payrolls Change (August)/ Conventional Gilt
· Hungary Industrial Production (July)
· France Harmonized Inflation Rate (August)/ Inflation Rate (August)
· Slovakia Inflation Rate (August)
· Spain Inflation Rate (August)/ Harmonized Inflation Rate (August)
· Poland Inflation Rate (August)
· Italy Balance of Trade (July)
· Euro Area Balance of Trade (July)/ ZEW Economic Sentiment Index (September)
· Greece Construction Output Q2
· Serbia Building Permits (July)
· EARNINGS: City of London Investment Group (FY), Everplay Group (HY), Kier (FY), Princes Group (HY), Trustpilot (HY), Wickes (HY), MJ Gleeson (FY)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Jordan Industrial Production (July)
· Saudi Arabia Inflation Rate (August)/ Wholesale Prices (August)
· Israel Inflation Rate (August)
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nothing significant to report.
Wednesday, September 16, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· The US Federal Reserve Board’s Federal Open Market Committee (FOMC) concludes two days of meetings on interest rates. A press conference with Fed Chair Kevin Warsh begins at 2:30 p.m.
· The Bank of Canada releases their Summary of Deliberations from the September interest rate meeting.
· Canada Housing Starts (August)/ Building Permits (July)
· Brazil IGP-10 Inflation (September)/ IBC-BR Economic Activity (July)/ Interest Rate Decision
· USA MBA 30-Year Mortgage Rate (September/11)/ MBA Mortgage Applications (September/11)/ MBA Mortgage Market Index (September/11)/ MBA Mortgage Refinance Index (September/11)/ MBA Purchase Index (September/11)/ Retail Sales (August)/ Import/Export Prices (August)/ Retail Sales Control Group (August)/ Retail Sales Ex Autos (August)/ NY Fed Services Activity Index (September)/ Retail Sales Ex Gas/Autos (August)/ Business Inventories (July)/ NAHB Housing Market Index (September)/ Retail Inventories Ex Autos (July)/ EIA Crude Oil/Gasoline Stocks Change (September/11)/ Net Long-term TIC Flows (July)/ Overall Net Capital Flows (July)
· Ecuador Balance of Trade (July)
· Colombia Industrial Production (July)/ Retail Sales (July)/ Consumer Confidence (August)
Asia
Political/Social Events –
· Hong Kong Chief Executive John Lee is due to unveil the city's first five-year plan, aiming to strengthen its position as a financial center in support of Beijing's own five-year blueprint. The move to adopt Communist Party-style planning has raised eyebrows in a city known for laissez-faire capitalism. But authorities have stressed that the plan will help Hong Kong serve the cause of national development without compromising its free-market economy.
· Today is Independence Day in Papua New Guinea, a national holiday.
Economic & Financial Reports/Events –
· New Zealand Current Account Q2/ Global Dairy Trade Price Index (September/15)
· Japan Imports/Exports/Balance of Trade (August)/ Machinery Orders (July)/ BoJ JGB Purchase
· Australia Westpac Leading Index (August)
· China FDI (YTD) (August)
· India Imports/Exports/Balance of Trade (August)/ M3 Money Supply (August/31)
· Kazakhstan GDP (August)
· Sri Lanka Manufacturing PMI (August)/ Services PMI (August)
Europe
Political/Social Events –
· European Commission President Ursula von der Leyden gives the annual State of the European Union speech in Strasbourg, France.
· The International Institute for Security Studies (IISS) Prague Defense Summit begins and runs through September 18th.
Economic & Financial Reports/Events –
· European Central Bank President Christine Lagarde attends the festive opening of Alte Oper season in Frankfurt, Germany.
· European Central Bank Vice President Boris Vujčić chairs a policy panel entitled "Geoeconomics and Trade: Risks, Resilience and Policy Responses" at ECB Annual Research Conference 2026 "Geoeconomics and the International Trading System" in Frankfurt, Germany.
· European Central Bank Board Member Frank Elderson gives the opening keynote speech at the Nature Finance and Resilience Day of Climate Finance Week Ireland in Dublin, Ireland.
· UK Inflation Rate (August)/ PPI Input/Output (August)/ Retail Price Index (August)
· Hungary Gross Wage (July)
· Italy Harmonized Inflation Rate (August)/ Inflation Rate (August)
· Euro Area Industrial Production (July)/ Labor Cost Index Q2/ Wage Growth Q2
· Ireland Balance of Trade (July)/ Residential Property Prices (July)
· Poland Inflation Rate (August)
· Belarus Industrial Production (August)
· Russia PPI (August)
· EARNINGS: WHSmith, Barratt Redrow (FY), Bolloré (HY)
Middle East
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Israel Unemployment Rate (August)/ GDP Growth Annualized 2nd Est Q2
Africa
Political/Social Events –
· Nothing significant to report.
Economic & Financial Reports/Events –
· Nigeria Food Inflation (August)/ Inflation Rate (August)
· South Africa Inflation Expectations Q3/ Retail Sales (July)
Thursday, September 17, 2026
Global
· The UN Security Council is expected to vote on renewing the mandate of the panel of experts supporting the 1737 sanctions committee on Iran.
Americas
Political/Social Events –
· Canadian Prime Minister Mark Carney gives a special address to the EU Parliament in Strasbourg, France. Carney is expected to raise the idea of Canada being given “associate member” status with the EU in the wake of ongoing political and trade tensions with the US.
Economic & Financial Reports/Events –
· Canada Foreign Securities Purchases (July)/ Foreign Securities Purchases by Canadians (July)/ PPI (August)/ Raw Materials Prices (August)
· USA Building Permits (August)/ Housing Starts (August)/ Initial Jobless Claims (September/12)/ Philadelphia Fed Manufacturing Index (September)/ Continuing Jobless Claims (September/05)/ Jobless Claims 4-week Average (September/12)/ Philly Fed Business Conditions (September)/ Philly Fed CAPEX Index (September)/ Philly Fed Employment (September)/ Philly Fed New Orders (September)/ Philly Fed Prices Paid (September)/ Pending Home Sales (August)/ EIA Natural Gas Stocks Change (September/11)/ 15-Year Mortgage Rate (September/17)/ 30-Year Mortgage Rate (September/17)/ Fed Balance Sheet (September/16)
· Argentina Consumer Confidence (September)/ GDP Growth Rate Q2/ Unemployment Rate Q2/ Leading Indicator (August)
· Costa Rica Unemployment Rate Q2
· EARNINGS: Lennar
Asia
Political/Social Events –
· In India, the Semicon India conference begins and runs through September 19th. It brings together government officials and global executives, including Prime Minister Narendra Modi who will inaugurate the new event. Other speakers include the CEOs of Advanced Micro Devices, Infineon Technologies and LAM Research.
· The 23rd China-ASEAN Expo + China-ASEAN Business and Investment Summit begins in Nanning, China and runs through September 21st. China’s Vice Commerce Minister Yan Dong recently framed the event around building out the China-ASEAN Free Trade Agreement.
· The Tokyo Game Show, one of the world's largest gaming conventions, will begin in the city of Chiba next to the Japanese capital. Now in its 30th year, it will run for five days and host a total of 1,138 businesses from around the world, ranging from major gaming studios to indie developers, hardware manufacturers and even construction companies.
Economic & Financial Reports/Events –
· The Bank of Japan begins its two-day Monetary Policy meeting.
· New Zealand GDP Growth Rate Q2/ Westpac Consumer Confidence Q3
· Japan Stock Investment by Foreigners (September/12)
· Singapore Balance of Trade (August)/ Non-Oil Exports (August)/ Unemployment Rate Q2
· Turkey Auto Production (August)/ Auto Sales (August)
· Kazakhstan Industrial Production (August)
· Hong Kong Unemployment Rate (August)
· Taiwan Interest Rate Decision
Europe
Political/Social Events –
· Russia holds elections for the Duma (parliament) through September 20th. 450 seats are up for election. Going into the election, the United Russia ruling party is leading in all polls.
· South Ossetia holds presidential elections.
Economic & Financial Reports/Events –
· European Central Bank Chief Economist Philip R. Lane chairs the Jean Monnet lecture "Economic Size and Economic Power" delivered by Paul Krugman at ECB Annual Research Conference 2026 "Geoeconomics and the International Trading System" in Frankfurt, Germany.
· The Bank of England meets on Interest rates. It will also release its Monetary Policy Summary and minutes of the Monetary Policy Committee meeting in September.
· Switzerland Balance of Trade (August)/ SECO Economic Forecasts
· Slovakia Harmonized Inflation Rate (August)
· Poland Consumer Confidence (September)
· Euro Area Inflation Rate (August)/ CPI (August)
· Turkey MPC Meeting Summary/ Foreign Exchange Reserves (September/11)
· Ukraine Interest Rate Decision
· Serbia Current Account (July)
· EARNINGS: Galliford Try (HY), Helvestia Baloise (HY), LPP (HY), Next (HY)
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 –
· Angola Foreign Exchange Reserves (July)/ M3 Money Supply (August)
· South Africa Consumer Confidence Q3/ Building Permits (July)
Friday, September 18, 2026
Global
· Nothing significant to report.
Americas
Political/Social Events –
· Today is Independence Day in Chile, a national holiday.
Economic & Financial Reports/Events –
· Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman will speak on “The Final Chapter on Bank Stress Test Reforms” hosted by the City of London in London.
· Canada CFIB Business Barometer (September)
· Mexico Aggregate Demand Q2/ Private Spending Q2
· USA Industrial Production (August)/ Capacity Utilization (August)/ Manufacturing Production (August)/ CB Leading Index (August)/ Baker Hughes Oil Rig Count (September/18)/ Baker Hughes Total Rigs Count (September/18)
· Colombia ISE Economic Activity (July)
· Argentina Balance of Trade (August)
Asia
Political/Social Events –
· The ASEAN economic ministers will gather in Manila, Philippines. The primary agenda includes food security, the digital economy and stronger trade links. But the real focus will be on how to deal with the region’s slowing growth caused by the Iran War and other global issues.
Economic & Financial Reports/Events –
· The Bank of Japan decides on Interest Rates.
· Reserve Bank of Australia Governor Michele Bullock gives evidence to the House of Representatives Standing Committee on Economics in Canberra.
· South Korea PPI (August)
· New Zealand Imports/Exports/Balance of Trade (August)/ Food Inflation (August)
· Japan Inflation Rate (August)/ Inflation Rate Ex-Food and Energy (August)
· Malaysia Inflation Rate (August)/ Imports/Exports/Balance of Trade (August)
· India Bank Loan Growth (August/30)/ Deposit Growth (August/30)/ Foreign Exchange Reserves (September/11)
Europe
Political/Social Events –
· The Eurogroup will meet in Dublin, Ireland. After the meeting, European Central Bank President Christine Lagarde will hold a press conference. Then there will be an informal meeting of EU Finance Ministers through September 19th. UK Chancellor John Healey has been invited to attend the informal meeting.
· The NATO Military Committee Conference – gathering all 32 NATO defense chiefs – will be held in Denmark and runs through September 19th. They are expected to discuss how to further provide aid to Ukraine and counter increased Russian hybrid warfare against NATO members in recent months.
Economic & Financial Reports/Events –
· Belarus GDP (August)
· EU ECOFIN Meeting
· Germany PPI (August)
· UK Retail Sales (August)/ Retail Sales ex Fuel (August)
· Poland Industrial Production (August)
· Euro Area Current Account (July)/ Current Account s.a (July)/ Construction Output (July)
· Italy Construction Output (July)/ Construction Output (June)/ Current Account (July)
· Slovakia Current Account (July)
· EARNINGS: Wolford (HY)
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.
Saturday, September 19, 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 –
· The 20th Asian Games begin in Aichi-Nagoya, Japan. This is Asia’s largest sporting event and runs through October 4th.
Economic & Financial Reports/Events –
· Nothing significant to report.
Europe
Political/Social Events –
· The UK’s Liberal Democrats hold their Autumn conference in Brighton.
· Oktoberfest officially begins in Munich, Germany.
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.
Sunday, September 20, 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 –
· Germany holds state elections in Berlin and Mecklenburg-Vorpommern. The latest polls show the far-right AfD Party has grown since their recent electoral victory in Saxony-Anhalt.
· There will be an informal meeting of EU Transport Ministers through September 21st in Dublin, Ireland.
Economic & Financial Reports/Events –
· Nothing significant to report.
Middle East
Political/Social Events –
· Bloomberg holds its Qatar Economic Forum in New York around the UN General Assembly. H.E. Sheikh Mohammed bin Abdulrahman Al-Thani, Prime Minister & Minister of Foreign Affairs of Qatar, will speak.
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
· September 14 – 16: There will be a G20 Energy Abundance Ministerial held in Houston, Texas.
· September 18 – 20: Russia legislative (Duma) elections are to be held.
· September 22 – 29: The UN General Assembly is held in New York.
· September 24: Chinese President Xi Jinping is expected to visit Washington, DC for bilateral meetings with President Trump.
· September 30 – October 1: There will be a G20 Trade Ministerial Meeting in Milwaukee, Wisconsin.
· October (exact date TBD): Israel holds legislative elections.
· October 1: The G20 Sherpa Meeting III will be held in Washington, D.C.
· October 4: Brazil holds general elections.
· October 12 – 18: The IMF and World Bank Meetings are held in Bangkok, Thailand. There will be a finance ministers’ and central bank governors’ meeting on the sidelines of the IMF/World Bank meetings on October 15th.
· October 11 – 13: The World Health Summit is held in Berlin, Germany.
· October 30 – 31: The G20 Foreign Ministers meeting is held in Atlanta, Georgia.
· November 3: The US Midterm election is 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 9 – 20: The United Nation’s COP31 Conference will be held in Antalya, Turkey.
· November 18 – 19: The APEC Summit will be held in Shenzhen, China.
· 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 18 – 22: The World Economic Forum is held in Davos, Switzerland.
· April 12 – 18: The IMF/World Bank Spring Meetings take place in Washington, D.C.