World leaders are convening in New York City for the United Nation’s annual General Assembly to discuss top issues concerning their security and economies.
UNGA Speeches and Meetings
US President Donald Trump, Iran’s Hassan Rouhani, Turkey’s Tayyip Erdogan and France’s Emmanuel Macron are among heads of states scheduled to address the 74th session of the UNGA. No meeting between Rouhani and Trump is expected amidst the high-running tensions but others will sit down for bilateral talks.
Trump’s speech will be in the focus as Washington and its major Middle Eastern ally Riyadh are seeking solutions to counter what they perceive as Iranian aggression threatening world energy markets. The wars in Syria, Yemen, and the Venezuelan, as well as the North Korean issues, will be among the topics discussed.
New Zealand rate
The Reserve Bank of New Zealand is set for a rate-setting monetary policy meeting on Wednesday. The RBNZ is expected to keep its 1 percent rate unchanged for now amid upcoming next month negotiations in the trade war between the US and China. The bank’s full policy report will be available in October.
The RBNZ in August surprised the markets in early August when it delivered a 50 basis point cut.
Austrians are heading to the ballot box on September 29, Sunday. The snap elections that follow the collapse of the coalition government of the far-right Freedom Party (FPOe) the center-right People’s Party (OeVP) will again be seen as a test of how right can the voters go in the country polarized by the leftist and nationalist conservative camps.
Latest polls show the OeVP of the former Chancellor Sebastian Kurz losing even more ground.
UK Drama Resumes at the Top Court
United Kingdom’s Supreme Court is expected to deliver its ruling early during the week on the case whether Prime Minister Boris Johnson prorogation of the House of Commons was lawful. The case brought against Johnson argues that he lied to the Queen about the actual reason behind the parliament’s suspension and seeks to overturn the decision.
Johnson will be in New York for UNGA where he is scheduled to meet several European Union leaders again to discuss how to avoid a no-deal Brexit and bring alternatives to the Irish backstop.
Monday: Japan — Autumn Equinox holiday, Germany Manufacturing PMI
Tuesday: Germany Ifo Business Climate Index, US CB Consumer Confidence
Wednesday: US New Home Sales, US Crude Oil Inventories, New Zealand RBNZ Interest Rate Decision, NZ RBNZ Rate Statement, NZ RBNZ Press Conference
Thursday: US GDP, US Pending Home Sales
Friday: US Core Durable Goods Orders