EM watchers can expect a slew of business and political meetings ahead of the summer holidays. Investors will be watching closely a few key diplomatic meetings, including a Russia-Germany summit which kicks off on Monday, and a meeting of US and Indian representatives on Tuesday.

Number crunchers will be pleased to hear the week will be filled with important economic data, most notably Brazilian trade balance and Russian consumption.

Monday, 18 July

A summit of the Association of Southeast Asian Nations (Asean) takes place in Bali, Indonesia.

Azerbaijani foreign minister Elmar Mammadyarov visits Russia.

The Ukrainian foreign minister, Kostyantyn Gryshchenko visits Nato headquarters in Brussels and meets the Nato secretary general, Anders Fogh Rasmussen.

Dmitry Medvedev, the Russian president and Angela Merkel, Germany’s chancellor begin a two-day meeting at which they are due to sign a range of business deals.

Iraqi PM Nouri al-Maliki visits China and meets the president, Hu Jintao, and the prime minister, Wen Jiabao, to discuss bilateral relations, especially in the fields of energy, transportation, agriculture, commodities, services and investment.

Economic data

Poland reports employment and wage data
Hong Kong reports June unemployment
Singapore releases June trade data
Argentina releases May economic activity index
Brazil reports July trade balance
Venezuela publishes June unemployment rate
Nigeria reports June CPI.

Tuesday, 19 July

The US secretary of state, Hillary Clinton, is scheduled to visit India. She is due to take part in the second round of the US-India strategic dialogue.

Economic data

Monthly unemployment figures released in Brazil
Argentina reports June budget balance
Brazil releases June unemployment rate
Colombia reports May industrial production and retail sales.

Wednesday, 20 July

The European Commission publishes annual progress reports for Bulgaria and Romania

World Trade Organisation releases World Trade Report

Economic data:

Poland reports June core CPI
Russia reports June consumption data
Brazil releases July IPCA-15 inflation indicator
Brazil releases monetary policy rate
Mexico’s INEGI reports May retail sales
South Africa reports June CPI
South Africa reports May retail sales

Thursday, 21 July

European Central Bank Governing Council meets in Frankfurt

India holds National Energy Investment Summit 2011 in Delhi

Economic data:

Eurozone reports current account data
Turkey announces monetary policy decision
Argentina releases July consumer confidence
Hong Kong reports June inflation data
Mexico reports June unemployment rate
South Africa announces monetary policy decision.

Friday, July 22

Economic data:

Eurozone reports composite, services and manufacturing flash PMIs
Argentina publishes June trade balance
Argentina releases June industrial production
Taiwan reports June unemployment data

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