Next Week
May 28, 2011
Next week begins with market closures Monday in Britain for a spring bank holiday and the United States for Memorial Day. Central banks in Canada and Thailand hold interest rate policy meetings. This being the cusp between May and June, the week will feature the release of many purchasing manager surveys for manufacturing, services, and construction.
A number of Japanese releases are scheduled including housing starts, construction orders, small business sentiment, labor cash earnings, industrial output, household spending, the monetary base, and the Finance Ministry’s quarterly corporate survey. BoJ Governor Shirakawa will be speaking.
Some other scheduled Asian releases are Indian GDP and trades, Indonesian and Thai consumer prices, Malaysian producer prices, and South Korean industrial production and consumer prices.
The United States reports the Case Shiller house price index, auto sales, consumer confidence, construction spending, and productivity, but the main attraction will be the trio of labor market releases: the ADP estimate of private sector jobs on Wednesday, jobless insurance claims on Thursday and the Labor Department employment report on Friday. Weekly chain store sales, energy inventories, consumer confidence and mortgage applications fill out the schedule.
Canada releases monthly GDP, quarterly GDP, the current account, producer prices and raw material prices. Mexican consumer confidence and Brazilian industrial production highlight the Latin American data release slate.
Producer prices, unemployment and consumer prices will be reported by the euro area. Scheduled national data within the region include German unemployment, French consumer spending on manufactured goods and producer prices, Italian producer prices, consumer prices and unemployment, Spain’s current account, Belgian consumer prices, Portuguese industrial production and retail sales, Finnish GDP and Irish unemployment.
In addition to three purchasing managers surveys, Britain releases mortgage approvals. Sweden and Norway report retail sales, Switzerland and Denmark announce GDP, and Iceland releases both the CPI and PPI. Polish GDP and Hungarian producer prices and trades arrive, too.
Turkey’s data calendar features the PPI, CPI and trade balance. South Africa will be reporting GDP and the trade balance. Australian new home sales, building permits, private credit, GDP and current account are scheduled for release, as are New Zealand trades, commodity prices, business sentiment, building permits and money growth.
Copyright Larry Greenberg 2011. All rights reserved. No secondary distribution without express permission.
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