Next Week
July 14, 2013
The two main highlights in the week to July 19 will be the release of several Chinese economic indicators and the Humphrey-Hawkins testimony of Federal Reserve Chairman Bernanke before the House on Wednesday and the senate on Thursday.
- Aside from June estimates of industrial production, fixed investment, and retail sales, Chinese 2Q GDP arrives, too. So do data on property prices and China’s index of leading economic indicators.
- The Fed Chairman’s semi-annual testimony has been a major event since the 1970s, and this week’s testimony comes at a time of experimental policymaking through communications that has seen bonds and stocks sway to and fro with each new remark from Bernanke or any other Fed official. An extra complication is that Mr. Bernanke, whose term as Chairman expires next January, is perceived as a lame duck.
Keeping with the central bank watching front, the Bank of Canada and South African Reserve Bank hold interest rate policy meetings; a change is not anticipated in either case. The Bank of Canada’s quarterly Monetary Policy Report gets released at the same time as the interest rate announcement. Bank of Japan minutes, Reserve Bank of Australia minutes and the Federal Reserve Beige Book of regional conditions will both be published. Central bankers from the G20 will join finance ministers for a meeting at week’s end.
Japanese markets are closed Monday for Marine Day.
Scheduled U.S. data in the week include retail sales, industrial production, the National Association of Home Builders housing index, the Philly Fed and Empire State manufacturing indices, business inventories, the Treasury TIC report on capital flows, housing starts and building permits, the index of leading economic indicators, and the usual weekly checks on chain store sales, energy inventories, consumer comfort, mortgage applications, and jobless insurance claims.
Japan will be releasing trade figures, the all industry index, the index of leading economic indicators, and department store sales. South Korean producer prices and Indian wholesale prices arrive, too. Australia’s data calendar shows motor vehicle sales and index of leading economic indicators. New Zealand consumer prices for 2Q arrive.
From the euro area comes car sales, consumer prices, the trade balance, the ZEW index of investor sentiment, the current account and construction output. Germany reports producer and import prices as well as Germany’s ZEW readings for investor expectations and perceptions about current conditions. The Italian trade deficit, Belgian GDP, and Belgian and Dutch consumer confidence, and Irish consumer prices are some of the other planned Ezone national releases.
Meaningful British releases comprise the Rightmove house price index, consumer and producer prices, labor market data, the budget deficit, and retail sales. Swiss producer prices, import prices, investor sentiment, and trade deficit are due.
Canada will be releasing consumer prices, manufacturing sales, orders and inventories.
Copyright 2013, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
Tags: Economic Data Calendar
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