• MON: German Retail Sales (Mar); EZ and US Manufacturing Final PMI (Apr); ISM Manufacturing PMI (Apr); UK Bank Holiday, Chinese Labour Day & Japanese Constitution Day
• TUE: RBA Policy Decision, UK Manufacturing Final PMI (Apr); US Durable Goods R (Mar); New Zealand Jobs Report (Q1); Riksdag Hearing on Riksbank Monetary Policy; Chinese Labour Day
• WED: BCB Policy Decision; EZ and US Services and Composite Final PMI (Apr); US ADP National Employment (Apr);...

• MON: German Ifo Survey (Apr); US Durable Goods (Mar).
• TUE: BoJ Policy Decision and Outlook Report; Riksbank Policy Decision; MNB Policy Decision; South Korean GDP (Q1).
• WED: FOMC Policy Decision; Australian CPI (Q1), German GfK Sentiment (May); Canadian Retail Sales (Feb), JMMC Meeting.
• THU: German Unemployment Data (Apr) and Prelim CPI (Apr); US GDP and PCE Prices Adv (Q1).
• FRI: Chinese Official PMIs (Apr);...

• SUN: German Regional State Elections
• MON: Chinese Retail Sales and Industrial Output (Feb); Eurogroup Meeting
• TUE: RBA Minutes (Feb); German ZEW Survey (Mar); US Retail Sales (Feb); Japanese Trade Balance (Feb)
• WED: FOMC Policy Announcement; BCB Policy Announcement; EZ Final CPI (Feb); Canadian CPI (Feb); New Zealand GDP (Q4); IEA MOMR; Dutch General Election
• THU:...

• MON: PBoC LPR Setting; Bank of Israel Policy Announcement; German Ifo Survey (Feb); New Zealand Retail Sales (Q4)
• TUE: UK Employment Report (Dec) and Claimant Count (Jan); EZ CPI Final (Jan)
• WED: RBNZ Policy Announcement; German GDP (Q4)
• THU: BoK Policy Announcement; German GfK Consumer Sentiment (Mar); EZ Sentiment Survey (Feb); US Durable Goods (Jan); GDP 2nd Estimate (Q4); Australian capex; New Zealand Trade Balance...

• SUN: Japanese GDP
• MON: Eurogroup meeting; US Holiday Washington's Birthday
• TUE: RBA Minutes (Feb); German ZEW Sentiment (Feb); EZ GDP Flash Estimate (Q4) and Employment Flash (Q4); Japanese Trade Balance (Jan)
• WED: FOMC Minutes (Jan); UK Inflation (Jan); US Retail Sales (Jan) and Industrial Production (Jan); Canadian CPI (Jan)
• THU: ECB Minutes (Jan); CBRT Policy Announcement; Australian Labour Market Report (Jan); EZ...

• MON: EZ Sentix Index (Feb)
• TUE: EIA STEO
• WED: Riksbank Policy Announcement; Banxico Policy Announcement; Chinese Inflation (Jan); US CPI (Jan); Norwegian CPI (Jan); US CPI (Jan)
• THU: CBR Policy Announcement; US University of Sentiment Prelim (Feb); OPEC Oil Market Report; Japanese National Day Holiday, Chinese Spring Festival, South Korea's New Year's Day
• FRI: UK GDP Estimate (Dec) and Prelim GDP (Q4); Hong...

• SUN: Chinese Official PMIs (Jan)
• MON: Chinese Caixin Manufacturing PMI Final (Jan); EZ, UK and US Manufacturing PMI Final (Jan); US ISM Manufacturing PMI (Jan).
• TUE: RBA Policy Announcement; EZ Flash GDP (Q4); US ISM New York (Jan); New Zealand Labour Market Data (Q4).
• WED: Chinese Caixin Services PMI Final (Jan); EZ, UK and US Services/Composite PMI Final (Jan); EZ Flash CPI (Jan) US ISM Services PMI (Jan); ADP National Employment (Jan);...

• MON: German Ifo Survey (Jan); EZ Sentiment Survey (Jan); Chinese President Xi to speak.
• TUE: UK Employment data (Dec).
• WED: FOMC Policy Decision; Australian CPI (Q4); German GfK Survey; US Durable Goods (Dec); Japanese Retail Sales (Dec); New Zealand Trade Balance (Dec).
• THU: German Prelim CPI (Jan); US GDP (Q4) & PCE Prices (Dec); Japanese Unemployment Rate (Dec).
• FRI: BoJ Summary of Opinions (Jan);...

• MON: Chinese GDP (Q4), Industrial Production (Dec) and Retail Sales (Dec); Eurogroup Meeting; US Martin Luther King Jr. Day.
• TUE: German ZEW Survey (Jan); EU Economic and Financial Affairs Council.
• WED: US President-elect Biden's inauguration; PBoC LPR Setting (Jan); BoC Policy Decision; German GfK Sentiment (Feb); UK Inflation (Dec); EZ CPI Final (Dec); Canadian CPI (Dec); Japanese Trade Balance (Dec).
• THU: ECB Policy Decision; BoJ...

• MON: US Electoral College Votes; OPEC MOMR; EZ Industrial Production (Oct).
• TUE: Hungarian Rate Decision, RBA Minutes (Dec); European Commission VP Dombrovskis speaking on EU Fiscal matters; IEA MOMR; Chinese Retail Sales (Nov); UK Labour Market Report (Oct); Japanese Trade Balance (Nov).
• WED: FOMC Monetary Policy Decision; EZ Finance Ministers meeting to discuss Draft Budgetary Plans; UK Inflation (Nov); EZ, UK, and US Markit Flash PMI (Dec); US Retail...

• MON: Riksbank Minutes (Nov); EZ Sentix Index (Dec); Japanese GDP (R/Q3); Chinese Trade Balance (Nov).
• TUE: EIA STEO; Norges Bank Regional Network Report (Q4); EZ Employment (F); GDP German ZEW Survey (Dec)(R/Q3).
• WED: BoC Policy Meeting; BCB Policy Meeting; Chinese Inflation (Nov); German Trade Balance (Oct)
• THU: ECB Policy Meeting; US FDA Covid EUA Meeting; EU Council Meeting (Thu-Fri); UK GDP (Oct), Output Data (Oct), Trade...

• 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,...

74th UN GENERAL ASSEMBLY (23-27 SEP):

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...

FOMC PREVIEW (WED)

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,...