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Top News Stories to Follow Today: Global Market Trends, Geopolitical Meetings, and Economic Data

As the world awakens to another day of global developments and market movements, here are some key news topics worth keeping an eye on:

1. Asian Stock Markets Face Downward Pressure

This morning, Asian stock markets are showing signs of decline, mirroring the trend seen in the US stock market’s fall on Friday, September 15th. Investors are closely monitoring major bank meetings scheduled for this week, which may influence market sentiments.

  • The US Federal Reserve (Fed) is set to conduct a monetary policy meeting on September 19-20.
  • The Reserve Bank of Australia (RBA) will release its minutes on Tuesday, September 19.
  • The Bank of England (BoE) will convene its monetary policy meeting on Thursday, September 21.
  • The Bank of Japan (BOJ) will hold its own monetary policy meeting on Friday, September 22.
  • The People’s Bank of China will announce the Prime Customer Rate (LPR) on Wednesday, September 20.

2. Oil Prices and Inflation Concerns

Investors are closely watching the trajectory of oil prices amid concerns that a surge in oil prices could exacerbate inflation and potentially prompt the US Federal Reserve (Fed) to maintain high interest rates for an extended period to combat inflation. Reports suggest differing opinions among analysts regarding the outlook for oil prices.

  • Bank of America predicts that if OPEC+ continues production cuts until the end of the year and Asian oil demand remains high, Brent crude oil prices could surpass $100/barrel before 2024.
  • Christian Malek, Chief Energy Analyst at JPMorgan, believes that oil prices may trade within the range of $80-$100 in the short term and $80 in the long term.

3. Diplomatic Meeting: US President Biden and President Zelensky of Ukraine

US President Joe Biden is set to welcome President Volodymyr Zelensky of Ukraine to the White House on Thursday, September 21st. During his visit, President Zelensky will also meet with parliamentary leaders from both political parties. This visit occurs amid considerations within the US government regarding potential military assistance to Ukraine, including the deployment of advanced weaponry.

4. Additional Sanctions on Iran

The United States, Britain, and Canada have announced additional sanctions on Iran, marking one year since the death of Iranian Kurdish woman Mahza Amini. Her death, while in the custody of Iran’s morality police, sparked months of protests against the Iranian government and a subsequent crackdown. Amini’s passing has become a symbol of opposition to the Iranian government, leading to significant anti-government demonstrations.

5. Russia-North Korea Relations

Kremlin spokesman Dmitry Peskov confirmed that Russia and North Korea have not entered into any military agreement despite a recent visit by North Korea’s Supreme Leader, Kim Jong Un, to Russia. The US has issued a warning of potential sanctions on both Russia and North Korea if they reach a new arms purchase agreement.

6. Strong Performance in China’s Mobile Phone Market

China’s mobile phone market exhibited remarkable strength in July, with shipments surpassing 18.55 million units. Notably, 5G handsets accounted for the largest share, totaling 15.06 million units, reflecting a 2.6% year-on-year increase. Domestic mobile phone brands continued to dominate the market, representing 87.5% of total shipments. The month also saw the launch of 30 new mobile phone models in the domestic market, marking a significant year-on-year increase of 66.7%.

7. US Economic Data Release

Investors are eagerly awaiting the release of US economic data scheduled for this week, including key indicators such as the September housing market index from the National Association of Home Builders (NAHB), August home construction figures, weekly unemployment claims, August second-hand home sales, leading economic indicators for August from the Conference Board, Purchasing Managers’ Index (PMI) for the primary service sector in September from S&P Global, and S&P Global Primary Manufacturing Purchasing Managers Index (PMI) for September.

Stay tuned for updates and insights as these news stories unfold and continue to shape global markets and geopolitical dynamics.

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