Next Week
August 17, 2012
Monetary officials hold interest rate policy meetings next week in New Zealand, Iceland, and Poland, and minutes will be released from early-August meetings of the FOMC and Reserve Bank of Australia. German Chancellor Merkel will be holding separate bilateral discussions with French President Holland and Greek Prime Minister Samaras.
Scheduled U.S. data to be released include the Chicago Fed’s National Activity Index, existing home sales, the FHFA house price index, the preliminary manufacturing purchasing managers index, durable goods orders, and weekly jobless insurance claims, chain store sales, mortgage applications, consumer comfort, and energy inventories. The Congressional Budget Office will release forecasts on the economy and budget.
Canada and Mexico report wholesale turnover and retail sales. Mexico also releases trade and current account figures, the index of leading economic indicators, and unemployment. Brazil also reports its current account and jobless rate. Chilean GDP is due, too.
Japan will be reporting the all-industry index, corporate service prices, the index of leading economic indicators and customs-clearance trade numbers. Some other Asian releases next week will be China’s index of leading economic indicators and manufacturing purchasing managers index, Singaporean industrial production, consumer prices and current account, Thai GDP, Hong Kong consumer prices, and Malaysian and Taiwanese unemployment.
Euroland has a light calendar — construction output, consumer confidence, and the preliminary PMI surveys for the whole region and for Germany and France. German GDP and index of leading economic indicators arrive. So do Dutch consumer spending, Portuguese consumer prices, Spanish and Finnish producer prices, and Belgian consumer and business confidence.
In Eastern Europe,Poland and Hungary will be announcing retail sales. Polish industrial production and unemployment are also due. So are Czech business and consumer confidence measures as well as Romanian money growth.
Britain’s slate of releases features revised GDP and includes public sector net borrowing, the Rightmove house price index, the CBI’s monthly survey’s of distributive trends and industrial trends, the monthly index of service sector activity, and the British Bankers Association estimate of mortgage approvals. Elsewhere in Western Europe, Switzerland reports money growth and the trade surplus. Denmark releases retail sales and consumer confidence. Norwegian GDP and Swedish unemployment will be reported, too.
New Zealand releases trade data, while South Africa has scheduled consumer prices.
Copyright 2012, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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The FOMC minutes made the USD tank in a lot of pairs, I guess QE3 sounds like weakness…I’ve always wanted to trade the eastern european pairs, but my broker doesn’t carry them 🙁