Geopolitical risk moves the market for a week!? ~ Schedule and points of attention for the week of September 17 ~

◎ This Week's Economic Indicator Schedule

9/17 (Monday)

16:00 TRY Quarterly Unemployment Rate
18:00 EUR European CPI (Consumer Price Index)

9/18 (Tuesday)

10:30 AUD Housing Price Index
10:30 AUD Monetary Policy Meeting Minutes
16:15 EURDraghi President Remarks
16:30 SEK Sweden Unemployment Rate
21:00 HUFHungary Policy Rate Announcement

9/19 (Wednesday)

07:45 NZD Current Account
10:30 AUDKent RBA Deputy Governor Remarks
12:00 around JPYBank of Japan Monetary Policy Meeting
15:30 JPYKuroda BoJ Press Conference

17:00 GBPHolden Chief Economist Remarks
17:30 GBPCPI (Consumer Price Index)
22:00 USDDraghi ECB President Remarks
23:30 USD Crude Oil Inventories

9/20 (Thursday)

EU Summit (informal)
LDP Presidential Election

07:45 NZDQuarterly GDP
16:30 CHF SNB Policy Rate Announcement & Statement
17:00 NOK Policy Rate Announcement
17:30 GBP Retail Sales
21:30 USD Philadelphia Fed Manufacturing Index

9/21 (Friday)

Japan-U.S. Trade Talks (Ministerial Level)
S&P Rebalance

00:15 EUR Weissman German IFO/ECB President Remarks
08:30 JPY CPI (Consumer Price Index)
15:45 EUR France GDP
16:15 EUR France Manufacturing & Services PMI
16:30 EUR Germany Manufacturing & Services PMI
17:00 EUR Eurozone Manufacturing & Services PMI
20:00 GBP Quarterly Report
21:30 CAD CPI (Consumer Price Index)
22:45 USD Services & Composite PMI

9/22 (Saturday)

02:00 USD Baker Hughes Rig Count

9/23 (Sunday)

UK Labour Party Conference (23–26)

◎ This Week's Highlights

1)Japan-U.S. Trade Talks (Ministerial Level)

“Trump suggests next trade war with Japan” There are reports suggesting that, after the EU and China, Japan could be next. Some rumors say it was to accommodate Prime Minister Abe's party leadership race. The LDP presidential election is on the 20th, and the Japan-U.S. trade talks are planned for the 21st. A Japan-U.S. summit is scheduled for next week.Expect statements and negotiations on trade tariffs to attract attention.

2)European and U.K. leaders' remarks

This week, an EU summit is planned. Given many issues in both the U.K. and Europe, we should watch for related statements carefully.

Europe's Issues
• Italy's fiscal issues
• Turkey issue
• Refugee issue
• Hungary sanctions issue

UK Issues
• Labour Party Conference
• Ireland border issue
• May's resignation issue
• Brexit negotiations

3)Trump's remarks and responses of opposing countries

Over the weekend NAFTA renegotiations that could not be resolved. Canada negotiations have not reached agreement yet. Mexico indicated it could accept a bilateral deal.NAFTA renegotiation outcome is in focus. Additionally, China responses with retaliatory measures, the U.S. implementing a third round of tariffs on China. Turkey's situation with pastor release and sanctions involves President Erdogan; both are emerging economies. Turkey's lira decline affects banks in Italy and Spain with Turkish debt, and European banks as well.

This week, compared to last week, there are fewer high-profile events, but as above, geopolitical issues are likely to move markets. I think it will be a week where headlines matter, so stay tuned..