Japanese Prime Minister Shinzo Abe has announced his resignation as president of the ruling Liberal Democratic Party (LDP), setting off a leadership race in Japan. According to TBS, the LDP is making final arrangements for an emergency leadership election on October 4th. This sudden turn of events comes after Abe’s health issues and a series of political scandals that have plagued his administration.

Meanwhile, across the Pacific, President Donald Trump has revealed the three finalists for the Federal Reserve chair nomination: Waller, Warsh, and Hassett. This decision comes as the US and China continue to struggle in their ongoing trade negotiations, with little progress made towards a deal. An impasse was hit on the fentanyl issue, according to the Wall Street Journal, further complicating the already tense relations between the two nations.

In other economic news, eight members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies have agreed to raise oil production by 137k barrels per day in October. This decision was made due to a steady global economic outlook and current healthy market fundamentals.

Looking ahead, investors will be keeping a close eye on key economic indicators such as German industrial output (July), trade balance (July), European Union Sentix Index (September), US employment trends (August), and the New York Federal Reserve’s SCE index.

In Europe, equity futures indicate a higher cash market open with Euro Stoxx 50 futures up 0.4% after a loss of 0.5% on Friday. This suggests that investors are optimistic about the region’s economic prospects despite the ongoing global trade tensions.

Overall, these developments highlight the complex and ever-changing nature of global politics and economics. As leaders continue to navigate these challenges, investors must remain vigilant and adaptable in their investment strategies.