• MON: OPEC meeting, Chinese Manufacturing & non-Manufacturing PMI (Nov), Canada fiscal update, German Regional & National CPI (Nov), US Chicago PMI (Nov), Pending Home Sales (Oct)
  • TUE: OPEC+ meeting, RBA Policy Announcement, Final EZ, UK & US Markit Manufacturing PMIs (Nov), EZ CPI(Nov), Canadian GDP (Q3), US Construction Spending (Oct), ISM Manufacturing PMI (Nov).
  • WED: Australian GDP (Q3), US ADP (Nov)
  • THU: Turkish...
  • MON: OPEC JTC & Diwali (India); Chinese Retail Sales & Industrial Production (Oct), Norwegian Trade Balance (Oct), US New-York Fed Manufacturing (Nov)
  • TUE: RBA Minutes (Nov) & Hungarian Rate Decision, OPEC JMMC; Norwegian Consumer Confidence (Q4), US Retail Sales, Industrial Production, Import/Export Prices, & Manufacturing Output (Oct); Japanese Trade Balance (Oct)
  • WED: UK CPI (October), EZ CPI (Oct, Final), US Building Permits &...
  • MON: Swiss Unemployment Rate (Oct), EZ Sentix (Nov), Mexican Inflation (Oct), US Employment Trends (Oct)
  • TUE: Norges Bank Financial Stability Report & EIA STEO; Chinese Inflation (Oct), Australian NAB Business Confidence (Oct), UK Unemployment (Sep), Norwegian CPI (Oct), German ZEW (Nov), US NFIB (Oct), Chinese M2 Money Supply & New Yuan Loans (Oct)
  • WED: RBNZ Rate Decision, ECB...
  • MON: --
  • TUE: Bank of Indonesia Monetary Policy Decision; UK Labour Market Report (Aug); German ZEW Survey (Oct); US CPI (Sep); OPEC Monthly Oil Market Report
  • WED: BoK Monetary Policy Decision; Singapore MAS, IEA Oil Market Report
  • THU: UK's de-facto deadline for UK-EU deal; European Council Summit (Day 1); US Second Presidential Debate; Australian Labour Force Report (Sep); Chinese Inflation (Sep); OPEC+ JTC...
  • MON: N/A
  • TUE: US 2020 Election Debate; German Flash CPI (Sep); EZ Sentiment Survey (Sep); US Advanced Goods Trade Balance (Aug)
  • WED: Chinese Official Manufacturing PMI (Sep) and Caixin Manufacturing Final PMI (Sep); UK GDP (Q2); German Retail Sales (Aug) and Unemployment (Sep); EZ Flash CPI (Sep); US ADP National Employment (Sep); GDP Final (Q2); Canadian GDP (Jul); US Chicago PMI (Aug); SNB Quarterly Bulletin (Q3)
  • THU: RBI Monetary...
  • MON: PBoC LPR Announcement
  • TUE: Riksbank & Hungarian Monetary Policy Decisions; EZ Consumer Confidence Flash (Sep); Tesla battery day
  • WED: RBNZ & CNB Monetary Policy Decisions; German GfK Survey (Oct); EZ, UK and US Flash Markit PMIs, (Sep); New Zealand Trade Balance (Aug)
  • THU: Special European Council Summit; SNB, Norges Bank &...
  • MON: EU/China Meeting; Japanese LDP Leadership Vote; EZ Industrial Production; Indian Trade Balance; OPEC MOMR
  • TUE: RBA Minutes, Norges Bank Regional Network Report; Chinese Retail Sales; UK Labour Market Report; German ZEW Survey; US Industrial Production; IEA MOMR
  • WED: FOMC Monetary Policy Decision; UK Inflation; US Retail Sales; Canadian CPI; New Zealand GDP
  • THU: BoE, BoJ, SARB Monetary Policy Decision; RBA Bulletin; Australian Labour...
  • MON: UK Holiday; Japanese Industrial Operating Profit (Prelim/July), Chinese NBS Manufacturing & Non-Manufacturing PMI (Aug), Japanese Consumer Confidence Index (Aug), German CPI (Prelim/Aug), Import Prices (July), Canadian Producer Prices (July), US Dallas Fed Manufacturing Business Index (Aug), New Zealand Import/Export Prices (Q2)
  • TUE: RBA Monetary Policy Decision; South Korea GDP (Q2/R); Chinese Caixin Manufacturing PMI (Aug/F);  EZ, UK and US Markit Manufacturing PMI...

Highlights include Fed’s Jackson Hole conference; RNC; US personal spending/consumption, consumer confidence; Aus capex; NZ retail sales; Canada GDP, BOK rate decision


MON: PBoC Loan Prime Rate Setting, Japanese Industrial Output, German PPI, Indonesian Central Bank Monetary Policy Decision, Huawei CFO Extradition Hearing begins, Eurogroup Meeting, Martin Luther King Day

TUE: World Economic Forum in Davos Begins (21st-24th January), BoJ Monetary Policy Decision, UK Labour Market Report, German ZEW, Eurozone Economic Sentiment, Canadian Manufacturing Sales

WED: BoC Monetary Policy Decision, Canadian CPI, South African CPI, Japanese...

  • MON: Eurozone M3 Money Supply, US Good Trade Balance, Dallas Fed Manufacturing Business Index.
  • TUE: Tokyo CPI, German Import Price Index, US S&P Case-Shiller, CB Consumer Confidence, US Pending Home Sales.
  • WED: Australian CPI, Swedish Confidence, German Labour Market Report, Regional and National CPI, Consumer Confidence (F), ADP Employment, BoC Rate Decision, FOMC Rate Decision.
  • THU: Australian Building Approvals, Chinese Manufacturing...
  • MON: Swedish Unemployment, EZ Industrial Production.
  • TUE: RBA Minutes, Chinese Inflation, South Korean Trade, UK Labour Market, German ZEW, NY Empire State Manufacturing Index, NZ CPI.
  • WED: BoK Rate Decision, UK & EZ Inflation, EZ Trade, US Retail Sales, Canadian CPI, US Business Inventories, TIC Flows.
  • THU: Australian Labour Market, Swiss Trade, UK Retail Sales, US Building Permits, Housing Starts, Philly Fed, Industrial Production,...


Attention will be on meetings that take place on the sidelines of next week's UN confab, particularly any meetings between US and Iranian officials, following last week's attacks on Saudi energy facilities, where from a US perspective, the blame has fallen on Iran. However, the chances of an official meeting between the two sides has faded after the attacks. Iran, which denies involvement in the attacks, has said that talks with the US cannot take place unless all...



Ahead of the 'blackout' window, Fed Chair Jerome Powell had the opportunity to guide market pricing for the 18th September FOMC, but struck an upbeat tone on the economy, essentially signalling that he was comfortable with market pricing which is weighted in favour of a 25bps rate cut to 1.75-2.00%, as opposed to the more aggressive 50bps, which some members of the FOMC have called for (voter James Bullard argued a cut of that magnitude would help align rates with the market). No doubt,...

  • MON: Japanese GDP, Germany Trade Balance, UK Industrial & Manufacturing Production, Construction Output, Trade Balance, EZ Sentix Investor Confidence,
  • TUE: Chinese & Norwegian Inflation, Norges Bank Regional Survey, UK Labour Market Report, US NFIB Small Business Optimism, Canadian Housing Starts, Building Permits, US JOLTS
  • WED: Swedish CPI, US PPI, Wholesale Trade Sales, Polish Rate Announcement, OPEC Monthly Report
  • THU: Swedish...
  • SUN: NZ Trade
  • MON: UK Bank Holiday, German IFO, US Durables, Dallas Fed Manufacturing Business Index
  • TUE: German GDP (2nd), Hungarian Rate Decision, US House Price Index, S&P Case-Shiller, CB Consumer Confidence, Richmond Manufacturing Index
  • WED: GFK Consumer Climate, EZ M3 Money Supply, Israeli Rate Decision
  • THU: NZ ANZ Business Confidence, Australian CAPEX, German Import Prices, Norwegian GDP, German...
  • MON: Japanese Trade Balance, EZ CPI,
  • TUE: Swiss Trade Balance, German PPI, Norwegian GDP, Canadian Manufacturing Sales, RBA Minutes
  • WED: Norwegian Unemployment, South African CPI, Canadian CPI, US Existing Home Sales, FOMC Minutes
  • THU: EZ & US Manufacturing, Services and Composite PMIs, Swedish Unemployment, EZ Consumer Confidence, NZ Retail Sales, ECB Minutes
  • FRI: Japanese National CPI, Canadian Retail Sales, US...
  • MON: N/A
  • TUE: German CPI, UK Labour Market Report, German ZEW, US CPI.
  • WED: Australian Wage Price Index, Chinese Industrial Production, Retail Sales, German GDP, Swedish CPI, UK CPI, PPI and RPI, EZ GDP.
  • THU: Australian Employment Report, Norges Bank, UK Retail Sales, US Philly Fed, NY Empire State Manufacturing, Retail Sales, Industrial Production.
  • FRI: OPEC Monthly Report, Eurozone Trade Balance, US Building...

NOTE: This analysis was sent to RANsquawk clients last Friday. Sign up for a free trial by following this link.  

  • MON: UK Mortgage Lending and Approvals, Dallas Fed Manufacturing Index
  • TUE: Japanese Unemployment and Industrial Production, Australian Building Approvals, German Import Price Index and GFK Consumer Climate, Eurozone Consumer Confidence (F),...
  • MON: Germany IP; BOI; Aus NAB confidence; China social financing.
  • WED: Powell testimony; FOMC mins; BOC MPR; China CPI; UK GDP, trade data, IP.
  • FRI: China trade.
  • SUN: Istabul Election re-run
  • MON: German Ifo Survey
  • TUE: RBNZ Monetary Policy meeting, Hungarian Central Bank Monetary Policy meeting, US Consumer Confidence, New Home Sales, Meeting minutes
  • WED: US Durable Goods
  • THU: Banxico Monetary Policy meeting, US GDP Final, Core PCE (Final), EZ Sentiment
  • FRI: G20, Japanese CPI and Unemployment, UK GDP, US Consumption and Uni. Of...
  • MON: US hearing on further China tariffs.
  • TUE: RBA Minutes, German ZEW Sentiment, EZ CPI (Final), US Housing Starts.
  • WED: FOMC Monetary Policy meeting, CBRT Summary of the MPC meeting, BCB Monetary Policy meeting, Japan Trade Balance, UK & Canada CPI.
  • THU: BOE, BOJ, Norges Bank, Bank of Indonesia, UK Retail Sales, US Philly Fed.
  • FRI: EU Summit (EU top jobs decisions to be made), Quadruple Witching, Japanese CPI,...


  • WEEKEND: G20 finmin/cbank heads meet.
  • MON: US to impose tariffs on Mexico; UK Tory leadership campaign starts; Japan GDP; UK GDP, Manufacturing; Canada housing.
  • TUE: EIA STEO, UK jobs report
  • WED: China CPI, US CPI, CBRT.
  • FRI: IEA oil report, CBR.


Ahead of the leaders’ summit on 28-29 June, G20 finance ministers and central bank officials will meet on the weekend at Fukuoka in...

  • MON: Swiss CPI, Turkish CPI, EZ, US/UK mfg PMI, US ISM mfg, construction spending, NZ trade
  • TUE: RBA, UK cons PMI, EZ CPI & unemployment, US factory orders, Aus GDP
  • WED: EZ, UK & US services PMI, EZ PPI, retail sales, US ADP, ISM non-mfg, NBP, Aus Trade
  • THU: German factory orders, RBI & ECB, EZ employment & GDP (F), US trade, unit labor costs, nonfarm productivity, Canadian trade
  • FRI: Swiss unemployment, German & French trade, German IP, US & Canadian labor market...
  • MON: UK and US Market Holiday.
  • TUE: Hungary rate decision.
  • WED: BOC rate decision, German Jobs Report, Richmond Fed.
  • THU: Aussie Building Approvals, CAPEX; NZ Budget; US GDP, Pending Home Sales.
  • FRI: Japanese jobs data, Tokyo CPI, industrial output; BOK rate decision; German retail sales, CPI; US personal spending, core PCE, Michigan; Canadian GDP