The Global Week

US-Iran Clashes Resume, Ukraine’s Allies Meet in Paris, Burnham to Be Formally Named the UK’s Next Prime Minister, and Warsh Delivers His First Economic Report to Congress

July 12 - 19, 2026

Iran will continue to dominate the geopolitical and economic headlines this week following the collapse of the ceasefire. The trigger for the collapse was Iran’s attack on multiple commercial vessels in the Strait of Hormuz, ostensibly because the ships failed to pay tolls to Iran. Since then, the US has carried out multiple waves of attacks on Iranian military targets. However, President Trump said he would agree to further talks with Iran despite the ceasefire's collapse. But as of this writing, there is no clear path to renewing further talks.

Meanwhile, President Trump is scheduled to meet with Iraqi Prime Minister Ali al-Zaida Tuesday at the White House. This is al-Zaida’s first foreign trip since being elected Prime Minister in May, and may prove helpful in furthering efforts with Iran. The focus of the meeting will be to secure new investment deals – including new oil deals – and finalize efforts to get Iraq to move to disarm Iran-aligned armed groups operating in Iraq.

In Europe, two important events are taking place. First, Andy Burnham will likely become the UK’s latest prime minister, replacing Keir Starmer. Burnham has secured close to 80% of the Labor Party’s support, and barring a last-minute entry in the race to become Prime Minister (the deadline for entry is this week), Burnham will be set to take over during Parliament’s summer recess.

The second important event is a meeting of the “Coalition of the Willing on Ukraine” in Paris. Ukrainian President Zelensky, NATO Secretary General Mark Rutte, and more than 25-plus heads of state will gather. While the meeting is unlikely to produce any big new financial or military commitments, it will be seen further building on momentum reaffirmed at the recent G7 summit in Évian, France and the NATO summit in Ankara, Turkey where allies committed €70 billion in military aid to Kyiv for 2026 (and President Trump granted Ukraine permission to build Patriot missiles – a significant new show of support from the US). Macron has said he’ll use the gathering to unveil new defense initiatives and joint military exercises, with the agenda also covering Russia’s shadow fleet, new military capabilities for Ukraine, and deeper operational cooperation among Kyiv’s backers.

Looking at the global financial and economic radar screen, inflation will be the focus of policymakers and markets this week.

The big event for markets will be Federal Reserve Board Chair Kevin Warsh’s testimony before Congress this week, presenting the Fed’s semiannual monetary report. Warsh is sure to be peppered with questions about inflation by nervous members of Congress facing tough elections in November.

In addition, there are no officially confirmed reports that European Central Bank President Christine Lagarde will be in Washington Monday and Tuesday to meet with Warsh (Monday) and Treasury Secretary Scott Bessent (Tuesday). It has been suggested that the meetings will focus on closer policy coordination on inflation as the Iran War drags on.

In the US this week, we will see the June CPI report on Tuesday, just before Warsh’s testimony to the House Financial Services Committee. Then the June PPI will be released on Wednesday, just before Warsh’s testimony before the Senate Banking Committee. The final inflation report of the week will be the University of Michigan’s preliminary survey on Friday. Other major reports out this week will be the Fed’s Beige Book on Wednesday, retail sales on Thursday, and industrial production on Friday.

Also, this coming week kicks off earnings season, with five of the largest US investment banks – JPMorgan, Goldman Sachs, Morgan Stanley, Bank of America, and Citigroup – all reporting.

In Canada, the Reserve Bank of Canada meets on Wednesday to set interest rates, with markets expecting a hold. Also on Wednesday, we will see MLS home sales figures and trade figures. And on Thursday, new housing starts are reported.

In Asia, the Bank of Korea decides on rates on Thursday. China releases its Q2 GDP figures and retail sales on Wednesday. And in Japan, we will see industrial production numbers on Tuesday.

And in Europe, the European Central Bank enters its quiet period ahead of its next rates meeting in two weeks. The Eurozone industrial production numbers are out on Wednesday, and Friday brings the Eurozone’s June CPI.

Below is the rest of our detailed report of the major geopolitical and geoeconomic events in the coming week:

Sunday, July 12, 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 –

· ASEAN will hold an informal meeting in Bangkok, Thailand with Myanmar’s foreign minister to explore Myanmar’s potential rehabilitation in the bloc. This is the first direct contact between ASEAN and Myanmar in five years.

· Today is Independence Day for the island nation of Kiribati.

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 Consumer Confidence (June)

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Monday, July 13, 2026

Global

· OPEC releases its Monthly Oil Market Report.

· The UN’s High-Level Political Forum 2026 will continue until 15 July, under the auspices of the Economic and Social Council (ECOSOC). The three-day ministerial segment of the forum will take place through July 15th.

· The International Finance and Banking Society holds its annual conference in London. Through July 15th.

· The International Seabed Authority convenes in Kingston, Jamaica, to negotiate rules for deep-sea mining. The meetings run through July 24th.

Americas

Political/Social Events –

· Iraqi Prime Minister Ali al-Zaidi travels to Washington, D.C. for meetings with President Trump. This first international trip since taking office in May. Among the issues the two leaders will discuss is a fund where Iraq deposits 500,000 barrels of oil/day in exchange for boosted electricity supply, negotiations with Chevron on the West Qurna-2 and Nasiriyah oil fields, and resumed operations for HKN, Western Zagros, and Hunt with security guarantees. But this is a delicate meeting for al-Zaidi as he seeks to deepen the US economic/security partnership while preserving Iraq’s relationship with Iran.

· The US Congress returns from a two-week recess.

Economic & Financial Reports/Events –

· Federal Reserve Board Vice Chair for Supervision Michelle Bowman will speak virtually at the Bank Policy Institute’s Roundtable.

· Federal Reserve Board Governor Christopher Waller will give an economic update at the New York Association for Business Economics (NYABE) in New York.

· USA Monthly Budget Statement (June)

· Paraguay Balance of Trade (June)

· Uruguay Industrial Production (May)

· Brazil Business Confidence (July)/ BCB Focus Market Readout

Asia

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· The Hong Kong Institute for Monetary and Financial Research, the Bank for International Settlements and the International Monetary Fund host a conference on global interconnections and financial stability in Hong Kong.

· New Zealand Composite NZ PCI (June) /Services NZ PSI (June)

· India Inflation Rate (June)

Europe

Political/Social Events –

· There will be a meeting of the Coalition of the Willing on Ukraine held in Paris, France. French President Emmanual Macron will host Ukrainian President Zelensky, NATO Secretary General Mark Rutte, European Commission President Ursula von der Leyen, and European Council President António Costa along with 25-plus heads of state. This meeting builds on momentum reaffirmed at the recent G7 summit in Évian and the NATO summit in Ankara, where allies committed €70 billion in military aid to Kyiv for 2026. Macron has said he’ll use the gathering to unveil new defense initiatives and joint military exercises, with the agenda also covering Russia’s shadow fleet, new military capabilities for Ukraine, and deeper operational cooperation among Kyiv’s backers.

· The EU Foreign Affairs Council will meet in Brussels. Foreign Affairs Ministers will discuss the Ukraine War with Ukrainian Foreign Affairs Minister Andrii Sybiha giving an update. They will also discuss the situation in the Middle East, get an update following the launch of the Black Sea strategic approach, the status of EU-UN relations, and on the margins participate in the EU-Gulf Cooperation Council High-Level Forum

· The EU Agriculture and Fisheries Council meets in Brussels. Ministers will discuss the Irish EU presidency work program, livestock strategy and protein plan, women in agriculture, and trade related agricultural issues.

· German Foreign Minister Johann Wadephul will meet Norwegian Foreign Minister Espen Barth Eide in Oslo, Norway.

· Romanian President Nicusor Dan will hold consultations with pro-Western parliamentary parties on forming a new ruling coalition.

Economic & Financial Reports/Events –

· European Central Bank President Christine Lagarde meets with Federal Reserve Board ChairKevin Warsh in Washington, D.C.

· European Central Bank Board Member Isabel Schnabel gives keynote remarks and participates in a panel discussion at the Annual Economic Reception of the Deputy Minister-President of North Rhine-Westphalia in Münster, Germany.

· BOE Chief Economist Huw Pill speaks at the International Finance and Banking Society conference in London.

· Romania Inflation Rate (June)

· Turkey Current Account (May)/ Retail Sales (May)

· Serbia Inflation Rate (June)

· Germany Current Account (May)

· Russia Balance of Trade (May)

· Euro Area ECB Schnabel Speech

· UK BoE Pill Speech

Middle East

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Jordan .Inflation Rate (June)

· Israel Imports/Exports/Balance of Trade (June)

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Tuesday, July 14, 2026

Global

· The UN Security Council is scheduled to hold a vote on Maintenance of international peace and security. Soon after, the Security Council is schedules to hold a briefing, followed by consultations, on the United Nations Office for West Africa and the Sahel (UNOWAS)

Americas

Political/Social Events –

· (TBD) Treasury Secretary Scott Bessent meets with Christine Lagarde in Washington, D.C. Lagarde reportedly wants to discuss the economic impact of the War with Iran and inflation coordination.

· The 2026 Aspen Security Forum begins in Aspen, Colorado and runs through July 17th.

Economic & Financial Reports/Events –

· Federal Reserve Board Chair Kevin Warsh will give the semiannual monetary policy report to Congress before the House Financial Services Committee.

· The Federal Reserve Board hosts its annual Financial Inclusion Conference in Washington, D.C.

· Federal Reserve Board Governor Michael Barr will give a speech at the Federal Reserve Board Annual Financial Inclusion Conference in Washington, D.C. He will later participate in a fireside chat on the issue of artificial intelligence and financial inclusion.

· Federal Reserve Board Governor Lisa Cook will give a speech entitled “Consumers, AI, and Financial Inclusion: Balancing Opportunities and Challenges” at the Federal Reserve Board Annual Financial Inclusion Conference in Washington, D.C.

· Federal Reserve Board Vice Chair for Supervision Michelle Bowman will give a pre-recorded video speech entitled “Responsible Innovation and Financial Inclusion” at the Federal Reserve Board Annual Financial Inclusion Conference in Washington, D.C.

· Chicago Federal Reserve Bank President Austin Goolsbee participates in moderated question-and-answer session before hybrid Kenosha Area Business Alliance Business Lunch event in Chicago, Illinois.

· USA NFIB Business Optimism Index (June)/ ADP Employment Change Weekly/ Inflation Rate (June)/ CPI (June)/ CPI s.a (June)/ Redbook (July/11)/ Net Long-term TIC Flows (May)/ Overall Net Capital Flows (May)/ API Crude Oil/Gasoline Stock Change (July/10)

· Ecuador Inflation Rate (June)

· Argentina Inflation Rate (June)

· EARNINGS: Citigroup, Wells Fargo, Goldman Sachs, Bank of America, JP Morgan, Ericson

Asia

Political/Social Events –

· In Kazakhstan, Roscosmos Soyuz MS-29 spacecraft launch, carrying Nasa astronaut Anil Menon and Roscosmos cosmonauts Pyotr Dubrov and Anna Kikina to the International Space Station.

Economic & Financial Reports/Events –

· New Zealand NZIER Business Confidence Q2/ NZIER Capacity Utilization Q2/ Visitor Arrivals (May)

· Australia Westpac Consumer Confidence Change (July)/ Westpac Consumer Confidence Index (July)/ AB Business Confidence (June)

· Singapore GDP Growth Rate Adv Q2

· China Imports/Exports/Balance of Trade (June)/ Balance of Trade Yuan (June)

· Japan Capacity Utilization (May)/Industrial Production (May)

· India WPI Food Index (June)/ WPI Fuel (June)/ WPI Inflation (June)/ WPI Manufacturing (June)

Europe

Political/Social Events –

· The EU General Affairs Council will meet in Brussels. Ministers responsible for European Affairs will discuss the Ireland’s EU presidential priorities, the state of play and future orientation of simplification, and an evaluation of the annual rule of law dialogue.

· The 3rd Accession Conference with Ukraine will take place in Brussels.

· The 28th Accession Conference with Montenegro will take place in Brussels.

· The 3rd Accession Conference with the Republic of Moldova will take place in Brussels.

· The 9th Accession Conference with Albania will take pace in Brussels.

· France celebrates Bastille Day with its traditional military parade on the Champs-Élysées in Paris, attended by President Emmanuel Macron.

Economic & Financial Reports/Events –

· UK Chancellor Rachel Reeves and Bank of England Governor Andrew Bailey deliver speeches at the City of London Corporation’s Financial and Professional Services Dinner (the Mansion House speech) in London.

· Bank of England Governor Andrew Bailey and Financial Policy Committee members appear in a Treasury Committee hearing on the Financial Stability Report.

· UK BRC Retail Sales Monitor (June)

· Ireland Construction PMI (June)

· Germany Wholesale Prices (June)

· Switzerland Producer & Import Prices (June)

· Hungary Construction Output (May)/ Industrial Production (May)

· Poland Balance of Trade (May)/ Current Account (May)

· EARNINGS: The Watches of Switzerland, BP

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 –

· South Africa Gold Production (May)/ Mining Production (May)

Wednesday, July 15, 2026

Global

· The UN Security Council is scheduled to hold a briefing, followed by consultations, on Colombia.

Americas

Political/Social Events –

· US Attorney-General nominee Todd Blanche appears before the Senate Judiciary Committee at the start of a two-day confirmation hearing.

Economic & Financial Reports/Events –

· Federal Reserve Board Chairman Kevin Warsh gives the Semiannual Monetary Policy Report to Congress before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

· U.S. Treasury Secretary Scott Bessent chairs a meeting of the Financial Stability Oversight Council to discuss geopolitical risks, AI and financial stability.

· Federal Reserve Board Governor Lisa Cook gives an economic outlook at the Exchequer Club in Washington, D.C.

· Federal Reserve Bank of New York President John Williams gives a keynote speech and participates in a conversation organized by the Partnership for New York City.

· St. Louis Federal Reserve Board President Alberto Musalem gives the Homer Jones Memorial Lecture in St. Louis, Missouri.

· USA MBA 30-Year Mortgage Rate (July/10)/ MBA Mortgage Applications (July/10)/ MBA Mortgage Applications (July/10)/ MBA Mortgage Refinance Index (July/10)/ MBA Mortgage Refinance Index (July/10)/ MBA Purchase Index (July/10)/ PPI (June)/ NY Empire State Manufacturing Index (July)/ PPI (June)/ PPI Ex Food, Energy and Trade (June)/ / EIA Crude Oil/Gasoline Stocks Change (July/10)/ NOPA Crush Report/ Fed Beige Book

· Bank of Canada Interest Rate Decision and Monetary Policy Report and Press Conference/Canada Capacity Utilization (May)/ Manufacturing Sales (May)/ New Motor Vehicle Sales (May)/ Wholesale Sales (May)/

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

· Peru GDP Growth Rate (May)/ Unemployment Rate (June)

· EARNINGS: Morgan Stanley, United Airlines, ASML, Progressive, BlackRock, Conagra, Johnson & Johnson, PNC, M&T Bank, Cintas, J.B. Hunt

Asia

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· South Korea Import/Export Prices (June)/ Unemployment Rate (June)

· New Zealand Electronic Retail Card Spending (June)

· Japan Reuters Tankan Index (July)/ Machinery Orders (May)/ BoJ JGB Purchase/ Tertiary Industry Index (May)

· China House Price Index (June)/ GDP Growth Rate Q2/ Industrial Production (June)/ Retail Sales (June)/ Fixed Asset Investment (YTD) (June)/ GDP Growth Rate Q2/ Industrial Capacity Utilization Q2/ Unemployment Rate (June)/ New Yuan Loans (June)/ M2 Money Supply (June)/ Outstanding Loan Growth (June)/ Total Social Financing (June)

· India Passenger Vehicles Sales (June)/ Unemployment Rate (June)

· EARNINGS: Rio Tinto

Europe

Political/Social Events –

· There will be in an informal meeting of EU Justice and Home Affairs Ministers in Brussels through July 17th.

· The UK-India Free Trade Agreement goes into effect.

· he EU and UK provisionally apply their post-Brexit border deal to the British territory.

Economic & Financial Reports/Events –

· European Central Bank Governing Council member Fabio Panetta speaks at the Italian Banking Association’s annual meeting in Rome.

· Bank of England Chief Economist Huw Pill speaks on a panel at the International Finance and Banking Society Conference.

· Bank of England executive director for prudential policy, David Bailey, speaks at the International Finance and Banking Society conference, hosted at Bayes Business School in London.

· Romania Industrial Production (May)/ Current Account (May)

· Slovakia Inflation Rate (June)

· Spain Inflation Rate (June)/ Harmonized Inflation Rate (June)

· Poland Inflation Rate (June)

· Euro Area Industrial Production (May)

· Ireland Balance of Trade (May)/Residential Property Prices (May)

· Serbia Building Permits (May)

· EARNINGS: Handelsbanken

Middle East

Political/Social Events –

· Israel and Lebanon may hold the next round of direct negotiations in Rome, Italy, through July 16th.

· Turkey observes Democracy and National Unity Day, a national holiday.

Economic & Financial Reports/Events –

· Jordon Industrial Production (May)

· Saudia Arabia Inflation Rate (June)/ Wholesale Prices (June)

· Israel Inflation Rate (June)

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Thursday, July 16, 2026

Global

· The International Energy Agency releases its Global Critical Minerals Outlook Report.

· The UN Security Council is scheduled to hold consultations on the 1701 report. In the afternoon, the Security Council is scheduled to hold consultations on the United Nations Peacekeeping Force in Cyprus (UNFICYP)

Americas

Political/Social Events –

· U.S. Secretary of State Marco Rubio will host a meeting with senior ministers from around the world on the “resurgence of transnational far-left terrorism.” In Washington, D.C.

Economic & Financial Reports/Events –

· Federal Reserve Board Vice Chair Philip Jefferson gives a speech entitled “Navigating Economic Shocks” at Stanford University.

· Dallas Federal Reserve Bank President Lorie Logan participates in moderated question-and-answer session sharing insights about her leadership role at the Federal Reserve, her experiences as a voting member of the Federal Open Market Committee and her perspectives on the evolving economic landscape in a Fed Listening Tour event in Houston, Texas.

· Kansas City Fed President Jeff Schmid participates in the Grand Island Economic Forum in Grand Island, Nebraska.

· Brazil Retail Sales (May)

· Canada Housing Starts (June)

· USA Retail Sales (June)/ Initial Jobless Claims (July/11)/ Philadelphia Fed Manufacturing Index (July)/ Retail Sales Control Group (June)/ Retail Sales Ex Autos (June)/ Continuing Jobless Claims (July/04)/ Jobless Claims 4-week Average (July/11)/ NY Fed Services Activity Index (July)/ Philly Fed Business Conditions (July)/ Philly Fed CAPEX Index (July)/ Philly Fed Employment (July)/ Philly Fed New Orders (July)/ Philly Fed Prices Paid (July)/ Retail Sales Ex Gas/Autos (June)/ Retail Sales (June)/ Business Inventories (May)/ NAHB Housing Market Index (July)/ Pending Home Sales (June)/ Retail Inventories Ex Autos (May)/ EIA Natural Gas Stocks Change (July/10)/ 15-Year Mortgage Rate (July/16)/ 30-Year Mortgage Rate (July/16)/Fed Balance Sheet (July/15)

· Ecuador Balance of Trade (May)

· Columbia Consumer Confidence (June)

· Paraguay Consumer Confidence (June)

· EARNINGS: Alcoa, Netflix, Cohen & Steers, First National Bank, Prologis, Citizen, State Street, Abbot, GE Aerospace, US Bancorp, United Health Group

Asia

Political/Social Events –

· Nikkei Asia Forum APAC 2026 will take place in Bangkok, bringing together political and business leaders from across the region to discuss topics including energy, mobility and AI. Speakers include Thai Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas, Sony Group Executive Chairman Kenichiro Yoshida and Thammasak Sethaudom, president and CEO of Thailand’s Siam Cement Group..

Economic & Financial Reports/Events –

· Japan Stock Investment by Foreigners (July)/11

· Australia Consumer Inflation Expectations (July)

· South Korea Interest Rate Decision

· Philippines Cash Remittances (May)

· China FDI (YTD) (June)

· India Imports/Exports/Balance of Trade (June)

· Sri Lanka Manufacturing PMI (June)/ Services PMI (June)

· EARNINGS: TSMC, Wipro

Europe

Political/Social Events –

· In the UK, BHP workers at Port Hedland are set to stage an eight-hour strike after negotiations over pay and working conditions failed.

Economic & Financial Reports/Events –

· The European Central Bank enters its quiet period ahead of the July 22-23 rate-setting meeting.

· Kazakhstan GDP (June)

· UK GDP (May)/ GDP 3-Month Avg (May)/ Goods Trade Balance (May)/ Goods Trade Balance Non-EU (May)/ Industrial Production (May)/ Manufacturing Production (May)/ Balance of Trade (May)/ Construction Output (May)/ NIESR Monthly GDP Tracker (June)

· Hungary Gross Wage (May)

· Switzerland SNB Monetary Policy Meeting Minutes

· Italy Harmonized Inflation Rate (June)/ Inflation Rate (June)/ Balance of Trade (May)

· Turkey Budget Balance (June)

· Euro Area Balance of Trade (May)

· Poland Inflation Rate (June)

· Belarus Industrial Production (June)

· EARNINGS: ABB, BHP, Crest Nicholson, Frasers, Publicis Groupe, SSE,

Middle East

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Israel GDP Growth Annualized 3rd Est Q1

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Oman Inflation Rate (June)

· Nigeria Food Inflation (June)/ Inflation Rate (June)

Friday, July 17, 2026

Global

· The World Artificial Intelligence Conference and High-Level Meeting on Global AI Governance is held in Shanghai, China. The meeting will showcase China’s advances in AI as its low-cost models gain traction globally. The conference comes on the heels of a United Nations meeting in Geneva on AI governance, which highlighted the contrasting attitudes of the U.S. and China.

Americas

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Brazil IGP-10 Inflation (July)/ IBC-BR Economic Activity (May)

· Canada FIB Business Barometer (July)/ Foreign Securities Purchases (May)/ Foreign Securities Purchases by Canadians (May)

· USA Building Permits (June)/ Housing Starts (June)/ Export Prices (June)/ Housing Starts (June)/ Import Prices (June)/ Industrial Production (June)/ Capacity Utilization (June)/ Manufacturing Production (June)/ Michigan Consumer Sentiment (July)/ Michigan 5 Year Inflation Expectations (July)/ Michigan Consumer Expectations (July)/ Michigan Current Conditions (July)/ Michigan Inflation Expectations (July)/ Baker Hughes Oil Rig Count (July/17)/ Baker Hughes Total Rigs Count (July/17)

· EARNINGS: Regions, Truist, Autoliv, Travelers, Sandvik, Fifth Third Bancorp

Asia

Political/Social Events –

· Today is Constitution Day in South Korea, a national holiday.

Economic & Financial Reports/Events –

· New Zealand Food Inflation (June)

· Singapore Balance of Trade (June)/ Non-Oil Exports (June)

· Angola Foreign Exchange Reserves (June)/ M3 Money Supply (June)

· Malaysia Inflation Rate (June)/ GDP Growth Rate Q2

· Hong Kong Business Confidence Q3/ Unemployment Rate (June)

· India Foreign Exchange Reserves (July/10)/ M3 Money Supply (June/30)

· EARNINGS: JSW Steel

Europe

Political/Social Events –

· The UK’s Labour Party will declare Andy Burnham its new leader if he remains the sole candidate for prime minister.

Economic & Financial Reports/Events –

· European Central Bank Board Member Piero Cipollone gives a lecture on the digital euro during the annual Federcasse assembly in Rome, Italy.

· Slovakia Harmonized Inflation Rate (June)/Current Account (May)/ Unemployment Rate (June)

· Turkey Foreign Exchange Reserves (July/10)/ Auto Production (June)/ Auto Sales (June)

· Euro Area Current Account (May)/ Current Account s.a (May)/ Inflation Rate (June)/ CPI (June)/ Inflation Rate (June)/ ECB Cipollone Speech

· Italy Construction Output (May)/ Current Account (May)

· Serbia Current Account (May)

· Kazakhstan Industrial Production (June)

· Belarus GDP (June)

· EARNINGS: Volvo, Burberry, Telia, Skanska

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 –

· Ghana PPI (June)

Saturday, July 18, 2026

Global

· Nothing significant to report.

Americas

Political/Social Events –

· Today is Constitution Day in Uruguay.

Economic & Financial Reports/Events –

· Nothing significant to report.

Asia

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· EARNINGS: HDFC Bank, ICICI Bank, Kotak Mahindra Bank (India)

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 –

· Nothing significant to report.

Africa

Political/Social Events –

· Nothing significant to report.

Economic & Financial Reports/Events –

· Nothing significant to report.

Sunday, July 19, 2026

Global

· The World Cup Championship is played in New Jersey.

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 –

· Nothing significant to report.

Africa

Political/Social Events –

· The Economic Community of West African States will hold the bloc’s 69th Ordinary Summit of heads of state and government in Sierra Leone.

· São Tomé and Principe hold presidential elections.

Economic & Financial Reports/Events –

· Nothing significant to report.

Looking at the Weeks Ahead

· July 23: The 33rd ASEAN Regional Forum takes place in Manila, the Philippines.

· July 28: Keiko Fujimori is inaugurated President of Peru.

· August 27 – 29: The 2026 Jackson Hole Economic Policy Symposium will be held in Jackson Hole, Wyoming.

· September 12 – 13: The 18th BRICS Summit will be held in New Delphi, India.

· September 18 – 20: Russia legislative (Duma) elections are to be held.

· September 31 – August 1: G20 Finance Ministers and Central Bank Governors meeting in Ashville, North Carolina.

· September 22 – 29: The UN General Assembly is held in New York.

· October (exact date TBD): Israel holds legislative elections.

· October 4: Brazil holds general elections.

· October 12 – 18: The IMF and World Bank Meetings are held in Bangkok, Thailand.

· October 30 – 31: The G20 Foreign Ministers meeting is held in Atlanta, Georgia.
November 3: The US Midterm election are held. All 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 14 – 15: The G20 Leaders’ Summit will be held at the Trump National Doral in Miami, Florida.