Next Week

October 2, 2009

G-7 finance ministers and central bankers meet in Istambul tomorrow, but markets are unsure about whether a new statement will be released from that downgraded group.  Those wishing to review results of the last G-7 meeting on April 24 and to see a chronology of all such meetings since October 2001 (right after the Al Qaeda attacks) can click here.

Central bank meetings are scheduled next week at the ECB, Bank of England, Bank of Korea, Reserve Bank of Australia, Central Reserve Bank of Peru, and Bank Indonesia.  Analysts consider it possible that Australian rates might get raised or that the Bank of England could lift its asset purchase plan ceiling.  No other possible changes in this group are drawing speculation.  Kohn, Bernanke, Dudley and Hoenig (twice) of the Fed will be speaking publicly.

Next week has a schedule of U.S. data releases: the service-sector PMI, the trade balance, the monthly federal budget, consumer credit, wholesale inventories and the weekly figures for consumer confidence, jobless claims, mortgage applications, chain store sales, etc.

Euroland will release its composite and service PMI scores, revised 2Q GDP, and retail sales.  Many individual members will be releasing PMI service readings.  n addition, investors will peruse German orders, industrial output, trade, current account, CPI and WPI figures; French industrial production, trades, and public finances; Italian and Dutch industrial production; and Dutch consumer prices.

Japan announces its PMI services result, the leading and coincident economic indices, the trade and current account data, the economy watchers index, the private consumption index, and machinery orders.

Chinese trade figures are due.  A selection of other Asian releases includes retail sales, GDP and the manufacturing PMI of Singapore, Taiwanese and filipino consumer prices, and South Korean unemployment.

Australia reports trade figures, consumer sentiment, and job ads.  Quarterly New Zealand consumer prices are due.  So are South African reserves and factory output.

Quite a few British releases are scheduled such as the services PMI, the Halifax house price index, industrial production and factory output, the Nationwide index of consumer confidence, a third-quarter estimate of GDP growth from the National Institute of Economic and Social Research, auto sales, shop prices, trade figures and producer prices.

Sweden releases industrial orders and output.  Norway also reports industrial output, plus it releases both CPI and PPI data.  Swiss CPI is due.

Among Eastern European releases, some items of interest may be Czech consumer prices and trades, Romanian retail sales and industrial output, and Hungarian trades and industrial production.

The monthly labor force survey results on Friday leads a Canadian data calendar, which also includes the IVEY-PMI index, trades, housing starts, building permits and the senior loan officer survey.  South of the U.S., Mexico will report consumer prices and consumer confidence, while Chile releases consumer prices.

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

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