NEW YORK, NY - SEPTEMBER 25: President Donald Trump addresses the 73rd United Nations (U.N.) General Assembly on September 25, 2018 in New York City. The United Nations General Assembly, or UNGA, is expected to attract 84 heads of state and 44 heads of government in New York City for a week of speeches, talks and high level diplomacy concerning global issues. New York City is under tight security for the annual event with dozens of road closures and thousands of security officers patrolling city streets and waterways. Spencer Platt/Getty Images/AFP

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.

Austrian Elections

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.

Economic Calendar

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


Please enter your comment!
Please enter your name here