Next Week

April 28, 2017

Holidays: Many markets will be closed Monday in observances celebrating workers, includin China, Germany, Italy, Spain, Norway, Hong Kong, Singapore, Mexico, Switzerland, South Africa, Brazil, South Korea, Greece and Portugal. Great Britain is shut also on Monday for the early May bank holiday. Japan’s market opens only for Monday and Tuesday. The so-called Golden Week holidays begin tomorrow with Showa Day and resume at mid-week with Constitution Day on Wednesday, Greenery Day on Thursday and Children’s Day on Friday. South Korean and Indonesian markets close Wednesday, observing Birth of Buddha Day.

Purchasing Manager Surveys for April: Numerous PMIs will be reported during the week covering manufacturing, construction, service-sector activity, retail, and the non-oil sectors of some oil producers. These surveys provide some of the most forward-looking comprehensive data and are monitored closely by governments, central banks, and private investors.

Central Banks: Monetary policy meetings are scheduled at the Fed, Reserve Bank of Australia, Czech National Bank and Bank of Norway. The FOMC meeting is not associated with a press conference this time. Bank of Japan minutes and the Reserve Bank of Australia’s quarterly Monetary Policy Statement get published. Bank of Canada Governor Poloz, BOJ Governor Kuroda, and RBA Governor Lowe are delivering speeches. Evans, Williams and Rosengren are some of the Fed district presidents with scheduled speeches.

U.S. Statistical Releases in the Week: The trade deficit, monthly Labor Dept jobs report, motor vehicle sales, labor productivity, factory orders, unit labor costs, construction spending, personal income and spending, the PCE price deflator, and weekly jobless insurance claims, consumer comfort, chain store sales, energy inventories and mortgage applications.

Euro Area Data: GDP, retail sales, new car registrations, unemployment and updated economic forecasts from the EU Commission.

Members of Euroland: German producer prices, Cypriot consumer prices, and Spanish industrial production. German, Italian and Portuguese unemployment.

U.K. and Switzerland: British money growth and shop prices. Swiss retail sales and consumer sentiment.

Eastern Europe: Romanian and Hungarian retail sales. Romanian PPI.

Japan: Motor vehicle sales and the monetary base.

Selected Other Asian Indicators: Indonesian, Thai and Filipino consumer prices. Thai and Filipino PPIs. Indonesian GDP and South Korea’s current account.

Australia, New Zealand and Turkey: Australian trade and new home sales. New Zealand labor statistics. Turkey’s CPI and PPI.

Canada and Brazil: Canadian labor statistics, IVEY-PMI index, and trade balance. Brazilian industrial production.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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