This Week

June 12, 2011

Three central banks holding interest rate policy meetings this week are the Bank of Japan, Swiss National Bank and Sedlabanki in Iceland.  The Bank of Japan monthly economic assessment, ECB monthly Bulletin and BOJ minutes from the May 19-20 meeting are arriving.  EU finance ministers, ECOFIN, meet in mid-week, and German and Australian are closed Monday for Whit Monday and the Queen’s Birthday.  There is a heavy schedule of data releases.

U.S. monthly releases will include producer and consumer prices, retail sales, industrial production, the Empire State and Philly Fed manufacturing indices, the index of leading economic indicators, the Treasury capital flow data, the U. Michigan gauge of consumer confidence, the National Association of Home Builders index, the National Federation of Independent Businesses index, housing starts, building permits and business inventories.  The quarterly current account is due on Thursday, and investors will also be paying attention to the usual assortment of weekly data covering consumer confidence, chain store sales, energy inventories, mortgage applications and jobless insurance claims.

In Asia, Japan will report machinery orders, revised industrial production, capacity use, and the Finance Ministry’s business sentiment figures.  China releases consumer prices, producer prices, industrial output, retail sales and fixed asset investment.  Indian wholesale prices, Filipino unemployment, Singapore’s trade balance, Hong Kong’s PPI and industrial production, and South Korean unemployment and trade.

The British calendar shows upcoming releases of consumer and retail prices, the Nationwide consumer confidence index, the Department for Local Communities and Government index, same-store retail sales, the Royal Institute of Chartered Surveyors housing index, unemployment, the index of leading economic indicators, and retail sales.  Swiss industrial production and producer prices, Icelandic unemployment, and Norwegian trades are also scheduled.

Euroland release industrial production, consumer prices, employment growth, trades, and construction output.  Italian, French, Finnish, Polish, Hungarian and Spanish consumer prices will be arriving.  So will Greek unemployment and import prices, the French, Czech, Polish and Portuguese current accounts, Dutch trades, and Finnish producer prices.

Canada released the monthly manufacturer survey, wholesale sales, capacity usage, motor vehicle sales, housing starts and auto sales.  Mexican industrial production will be reported. 

The list of Australian releases includes business confidence and conditions, consumer confidence, housing starts, expected inflation and the index of leading economic indicators.  New Zealand’s food price index, business purchasing managers index, and services index are scheduled releases, as are South African retail sales and Turkish consumer sentiment, unemployment and current account.

Copyright Larry Greenberg 2011.  All rights reserved.  No secondary distribution without express permission.

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