Risk-off mode despite the Trump-Xi meeting, and ahead of US core PCE and jobs report, China PMIs, CPI in Europe, and a likely RBA hike. We offer some thoughts on the Trump-Xi summit, and preview core PCE and labor market data in the US. In Europe we discuss the latest on Germany&#x27;s politics, the significance of widening long-end spreads and the upcoming CPI data. We expect an RBA hike, a pickup in China PMIs and a somewhat divergent inflation picture in Australia, Korea and Indonesia. Chapters: US: 02:34, China: 06:42, Rest of Asia: 12:31, Europe: 17:28

The Week Ahead – Still looking cloudy from the summit

Nomura – The Week Ahead

I gave absolutely no credence and will not give credence to the election when it comes to Iran. It doesn't even enter my mind. The only thing that does is that Iran will never have a nuclear weapon.

Hello and welcome to The Week Ahead on Nomura podcast. My name is Ubin Parqués, Chief Southeast Asia Economist at Nomura in Singapore, and today is Friday, the 25th of September. That was President Trump speaking at the UN General Assembly regarding the situation in the Middle East, and it seems progress towards a deal with Iran may still be a distant prospect, even though he said Iran will want to make a deal right after the midterm elections in the US.

That uncertainty is also reflected in volatile oil markets, with Brent crude now approaching $107 per barrel again after dipping briefly below $100 this week. US Treasury yields also spiked, with 10-year yield decisively above 5% following hot US PMI data, and the US dollar strength appears to be continuing as a result. It seems like we are closing this week with a swing to a risk-off tone after starting it in a risk-on mode.

All eyes are also on the Trump-Xi summit in the US, with discussions between the two leaders underway as we speak, but expectations for a breakthrough are likely fairly low. In this episode, I'll check in with Rishir Sharma from our US economics team in New York, Jing Wang from our China economics team in Hong Kong, to give their perspectives of the summit.

We also preview Tier 1 releases, such as the US core PCE and the all-important labor market report, as well as China's PMI data, out just before the start of the Golden Week national holiday.

The Week Ahead – Still looking cloudy from the summit

Read the full transcript

The candid version is on a podcast,
not the earnings call.

The Week Ahead – Still looking cloudy from the summit

Read the full transcript

The candid version is on a podcast, not the earnings call.

The candid version is on a podcast,
not the earnings call.