Next Week

April 3, 2009

A great many markets in all regions will be closed at the end of next week for Good Friday.  After Christmas, the Good Friday/Easter Monday sequence tends to see the quietest currency market conditions in the calendar year.  Central bank interest rate policy meetings will be held in Australia, Great Britain, South Korea, Thailand, Peru, Chile, and Nigeria. The FOMC and Bank of Japan will be releasing minutes from prior meetings.

This will be a light week for U.S. data, just the trade deficit, import prices, consumer credit, wholesale inventories and the monthly budget in addition to the usual weekly reports like jobless claims, energy inventories and chain store sales.

Euroland’s final estimate of 4Q08 GDP is due, as are retail sales and producer prices for the 16-nation bloc.  Germany reports current account, trade, industrial orders, industrial output and revised consumer prices.  Italy, France, and the Netherlands also report their industrial production.  Italian wages, French consumer prices and trade, and Dutch consumer prices are also on the schedule.

From Britain comes industrial production, same-store sales, producer prices, trade, consumer confidence, the NIESR estimate of first-quarter growth, and the quarterly Chamber of Commerce survey.  Norway releases consumer prices and industrial output, while Swiss unemployment figures are due.

Japanese data next week will include the economy watchers index, the current account, money and credit growth, machinery orders and the index of leading economic indicators.

China announces money growth and trade data.  Indonesia holds parliamentary electionsAustralia releases monthly labor market figures, consumer confidence, job ads, the commodity price index, and housing finance.  South African factory output is due.

Canadian scheduled releases include the IVEY-PMI index, monthly labor statistics, trade data, house prices, housing starts and building permits.

A second-tier of monetary officials — Smaghi, Warsh, Canstancio, Mersch, Stern and Hoenig — have public speaking engagements.

Copyright 2009 Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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