The Week Ahead

May 8, 2016

Chinese Data:  Chinese trade figures and international reserves were released yesterday.  Trade numbers were concerning despite a wider $45.6 billion surplus in April.  On-year export growth was negative 1.8%, a bigger drop than forecast and a stark contrast from March’s 11.5% advance.  The on-year contraction of imports swelled to 10.9% from 7.6% in March.  Reserves rose $6.4 billion last month to $3.219 trillion.  Other scheduled Chinese statistical releases in the coming week are foreign direct investment, consumer prices, producer prices and money and bank lending growth.

Japanese Data Releases:  Consumer confidence, the current account, reserves, money growth, the tertiary index, the index of leading economic indicators, the economy watchers index, and labor cash earnings.

Selected Other Asian Statistics:  Indonesian and Malaysian GDP and current accounts.  Malaysian and Indian industrial production.  Singapore retail sales and Malaysian unemployment.

Central Banks:  Monetary policy meetings in Thailand, the U.K., The Philippines, Iceland, Norway, Poland, and South Korea.  Bank of Japan Board minutes get releases, and BOJ Governor Kuroda speaks publicly.  Evans, George and Kashkari are some of the Fed officials with public speaking engagements during the week.

U.S. Data:  Producer prices, retail sales, import prices, the federal monthly budget, the JOLTS index, the NFIB small business sentiment index, and the U. Michigan/Reuters consumer sentiment index.  Also weekly jobless insurance claims, chain store sales, energy inventories, mortgage applications and consumer comfort.

Euroland:  Industrial production, preliminary GDP, Sentix index of investor sentiment and EU car registrations.  Finance ministers hold a meeting Monday.

Members of the Eurozone:  Real 1Q GDP in Germany, Italy, Greece, The Netherlands, Portugal and Cyprus.  CPI in Germany, Italy, France, Spain, Greece, Ireland, Finland and Portugal.  German industrial output, orders, current account, trade balance and wholesale prices.  Spain’s index of leading economic indicators and Ireland’s construction purchasing managers index.  Dutch retail sales and factory output.

Britain and Switzerland:  British construction output, trade deficit, same store sales, industrial production, Halifax house price index, RICs house price balance, and monthly GDP.  Swiss consumer prices and unemployment.

Eastern Europe:  Hungarian and Romanian GDP and industrial production.  Polish GDP and CPI.

Nordic Europe:  Norwegian GDP, industrial output and PPI.  Swedish CPI.

Australia, New Zealand, South Africa and Turkey:  Australian home loans, consumer confidence and expected inflation.  Turkish and South African industrial production.  New Zealand retail sales.

Canada, Mexico and Brazil:  Canadian housing starts and home prices.  Mexican CPI, industrial production and producer prices.  Brazilian retail sales.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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