Week InAdvance: September 5, 2022
Mon Sep 5 US markets closed for Labor Day holiday. Opec+ meets to discuss oil supply. New UK prime minister to be announced. | Tue Sep 6 US primary elections scheduled in Massachusetts. | Wed Sep 7 Fed's Beige Book. Apple ‘Far Out' product launch. | Thu Sep 8 Fed's Powell speaks at Cato Institute. ECB rate decision, Lagarde briefing. | Fri Sep 9 EU finmins meet in Prague. | Sat Sep 10 China and Taiwan's Mid-Autumn (or Moon) Festival public holiday. | Sun Sep 11 21st anniversary of the terrorist attacks in New York and Washington. Russia's regional and local elections.
The new UK prime minister will be announced on Monday. The following day, Boris Johnson will step down and the Queen will officially appoint the new head of government. The UK's next prime minister inherits an economy wracked by surging inflation, almost daily strike action and energy bills that will rise by 80% in October.
On Thursday, the European Central Bank is expected to raise rates by at least 50 basis points. ECB President Christine Lagarde holds a press conference after the decision.
The OPEC+ meeting on Monday attracts greater attention after Saudi Arabia openly floated the possibility of cuts to output, despite a simmering global energy crisis across the commodity complex and pressure from the US to increase supply.
Apple is expected to unveil the iPhone 14 lineup and its next slate of smart watches at a launch event on Wednesday,
Federal Reserve Chair Jerome Powell is to take part in a discussion on monetary policy at the Cato Institute on Thursday, less than two weeks before the central bank announces its next rate decision — and after his recent Jackson Hole comments sent stock prices reeling.
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