Next Week

September 3, 2010

The week to September 10 kicks off with Labor Day holiday closures on Monday in both the United States and Canada.  Brazil and numerous Asian countries also celebrate holidays during the week.  The week after the U.S. holiday starts the third and final currency market season of the calendar year.

Central bank meetings are scheduled in Japan, Canada, Australia, Britain, South Korea, South Africa and Peru.  Only in the cases of Japan, Britain, and Australia can one be highly confident of no rate change.  A cut seems likely in South Africa, and increases are possible in the other three instances.  The Fed Beige Book, ECB monthly Bulletin, and Bank of Japan August meeting minutes are all due.

Japan has several indicators arriving, led by the revised GDP report but also including machinery orders, trade and current account figures, corporate goods prices, money and credit growth,  the economy watchers index, the index of leading economic indicators, and the Finance Ministry’s quarterly corporate outlook survey results.

Germany, Italy and France will be releasing industrial production.  Germany and France release trade data.  Germany also has scheduled the release of industrial orders and final consumer prices, while in France the budget and jobs are due.  Italian and Belgian GDP reports are also on the data calendar, as are Dutch and Spanish consumer prices.

Further east, the Czech Republic, Hungary, Romania, and Poland report trade and/or current account figures.  Industrial output is due as well and the first three of those economies, and Romania and Hungary have scheduled releases of consumer prices.

British upcoming data include car sales, same store sales, industrial production, producer prices, the RICs house price balance index, and goods and services trade.  Sweden will release GDP, the CPI, and industrial production.  Switzerland announces unemployment, while Norway reports its CPI and PPI as well as consumer confidence.

Chinese trade numbers and Indian industrial output figures are scheduled.  So are South Korean money growth and producer prices, Taiwanese and Filipino export growth.  Australia’s slate includes unemployment, mortgage lending, and job ads, while both South African and Turkish industrial production are due.  New Zealand will release its house price index and the index of factory activity.  South Africa reports the current account.

The two main attention grabbers in Canada will be the central bank rate announcement on Wednesday, a day later than usual because of the Monday holiday there, and the August labor market survey on Friday.  Building permits, the IVEY-PMI index, housing starts and trades are other planned releases.  Brazil and Mexico consumer prices are also due.

It will be a fairly lean week for the United States, just monthly trades, wholesale inventories, consumer credit,and the usual weekly stuff for chain store sales, mortgage applications, energy inventories, consumer confidence and jobless insurance claims.

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

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