Next Week
September 17, 2010
Japan has holiday closures on Monday (Respect for the Aged Day) and Thursday (Autumn Equinox), creating interesting possibilities for a market test of the new intervention policy. Central bank meetings are scheduled in the United States, Hong Kong, Norway, Mexico, Colombia and the Czech Republic. No interest rate changes are anticipated from them, but there was speculation earlier this month that the Fed would announce some quantitative easing steps. Evans and Lacker have public speaking opportunities later in the week.
The U.S. data calendar is comparatively light and skewed toward the housing sector with the release of the NAHB index, the FHFA index, housing starts and both new and existing home sales. The index of leading economic indicators and durable goods orders are scheduled, too. Weekly measures include jobless insurance claims, energy inventories, mortgage applications, chain store sales and consumer confidence.
Canada reports wholesale sales, retail sales, consumer prices, the index of leading economic indicators, and international securities transactions. Mexican retail sales and Brazil’s current account figures will be released.
Euroland’s major release will be the flash purchasing manager indices for the bloc as a whole and France and Germany individually. For each of these three entities, three indices get reported, one for manufacturing, another for services and a third that’s a composite of the two. Euroland flash consumer confidence report is due also next week, and so are industrial orders. Among euro area members, the Netherlands releases final GDP and consumer confidence, Belgium and France report business sentiment, and Italy announces its trade data. The German IFO index is likely to command special interest.
The Bank of England and Swiss National Bank release their quarterly Bulletin in the former case and monetary policy report from the latter. Minutes of the Bank of England’s policy meeting this month are due as well. The British data calendar will feature public finances, the Rightmove house price index, mortgage approvals and lending, M4 growth, and the CBI industrial trends survey. Swiss trade data and Swedish producer prices are scheduled. Hungary and Poland each release retail sales.
Japan releases its all-industry index but not much else next week, just a revision to the index of leading and coincident indicators and machine tool orders. Elsewhere from Asia, China reports foreign direct investment. Singapore and Hong Kong announce consumer prices, while South Korea, Taiwan, and Singapore release industrial production.
New Zealand GDP, Australian private credit and building permits, Turkish capacity usage, and South Africa’s current account get reported, too.\
Copyright Larry Greenberg 2010. All rights reserved. No secondary distribution without express approval.
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