Next Week

January 8, 2010

A moderately busy week of central bank meetings and data releases awaits currency market participants.  Japan and the U.S. have shortened weeks, as Japanese markets are shut on Monday for Coming of Age Day and the U.S. observes an early closure Friday ahead of the 3-day MLK birthday weekend.  Monetary policymakers hold meetings in Euroland, Thailand, Chile, Colombia, Mexico, and Turkey, none of which are expected to change rates.  The Fed Tan Book gets published, and Bullard, Lacker, Lockhart, Yellen, and Plosser are some of the officials with scheduled public speeches.

Scheduled U.S. releases include retail sales, industrial production, capacity usage, consumer prices, import prices, business inventories, the trade deficit, the  U. Michigan consumer sentiment index,  the Empire State manufacturing index, the IBD/TIPP optimism index, and the federal budget.  There are also various weekly statistics like energy inventories, chain store sales, mortgage applications, jobless insurance claims, and consumer confidence.

Over in Japan, investors await the arrival of the trade and current account figures, money and credit growth, the economy watchers index, machinery orders, corporate goods prices, and the private consumption indicator.

Britain reports a couple more house price indices, trade data, consumer prices, same-store sales, industrial production, factory output, and the estimated monthly GDP growth rate.

Germany releases full-2009 GDP and the new budget, as well as wholesale prices and the final CPI figures.  France and Italy also announce industrial output and consumer price numbers.  Dutch industrial production and Spanish consumer prices are due, too, as is the French current account.  Euroland as whole reports trade figures and consumer prices.

More price data will be released in Norway (CPI and WPI), Sweden (CPI), Switzerland (PPI and import prices), Poland (CPI), Romania (CPI), Hungary (CPI) and Czech Republic (PPI and CPI).  The Czechs and Poles release their current account.  Hungary reports trade numbers, and Czech retail sales are due also.

Canada has quite an extensive data line-up: housing starts, trade numbers, auto sales, house prices, housing starts, building permits, results from a quarterly survey of businesses on conditions and prospects, and another survey of senior loan officers.

This is the week when China releases all its monthly statistics like retail sales, business investment, industrial production, the trade surplus, money and credit growth, producer prices, consumer prices, plus the fourth-quarter GDP growth rate.  Some of the other noteworthy Asian statistics that are due include Singapore GDP and retail sales, Indian and Malaysian industrial production, and South Korean unemployment.

Australia releases its monthly labor force survey as well as figures on mortgage financing.  New Zealand reports building permits.  South African retail sales and industrial production also arrive, as do Israeli consumer prices.

Besides a number of central bank meetings in Latin America, Mexico will release trade figures, Argentina announces both consumer and producer prices, and Brazil publishes retail sales.

Copyright Larry Greenberg 2010.  All rights reserved.  No secondary distribution without express permission.


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