Next Week

October 20, 2017

Central Bank Action: Monetary policy meetings are scheduled at the European Central Bank, Bank of Canada, Swedish Riksbank, Bank of Norway, Central Bank of Brazil, Bank of Russia, and central banks in Ukraine, Colombia, Turkey, and Hungary. The ECB’s quantitative stimulus plans in 2018 will be detailed, and the Bank of Canada will release a new Monetary Policy Report with updated macroeconomic forecasts. ECB President Draghi and Bank of Canada Governor Poloz will hold press conferences. U.S. President Trump is likely to announce his selection for the next Fed chairperson in either of the coming two weeks.

Special Events and Holidays: Japanese lower house parliamentary elections are scheduled for October 22nd. The Chinese Communist Party Congress and EU Council Summit will conclude. New Zealanders observe Labor Day on Monday.

Scheduled U.S. Economic Data Releases: Third-quarter GDP and employment cost index. New home sales and pending home sales. The Richmond and Kansas City Fed manufacturing indices. Durable goods orders, the Chicago Fed National Activity Index, and Reuters/U. Michigan’s consumer confidence index, plus weekly jobless insurance claims, chain store sales, mortgage applications, consumer comfort and energy inventories.

Japanese Data: Consumer prices, corporate service prices, department and supermarket sales, the index of leading economic indicators, and preliminary results of the monthly purchasing managers index, which embodies about 80% of all information going into the month’s final results.

Selected Other Asian Statistics: Chinese corporate profits and property prices. China’s and India’s indices of leading economic indicators. South Korean GDP and consumer sentiment. Singaporean producer prices and unemployment. Hong Kong and Singaporean consumer prices. Hong Kong’s trade balance.

Euroland: Preliminary October purchasing managers survey results. Money growth and first estimate of consumer confidence. Quarterly government deficits and outstanding debt of common currency area and its individual member nations.

Members of the Euro Area: German and French preliminary PMI survey results. The forecasts of Germany’s six wise men. German import prices, retail sales, consumer confidence and IFO Institute business climate index. French, Italian, and Finnish consumer confidence. Italian and Belgian business sentiment. Spanish and Finnish producer prices. Finnish and Spanish unemployment. Finland’s PPI, Austrian industrial production, Italian industrial orders, and the Greek current account.

U.K. and Switzerland: British 3Q GDP, consumer confidence, the BBA estimate of mortgage applications, the Nationwide house price index, and the CBI’s surveys of industrial trends and distributive trades. Swiss money growth, ZEW expectations index and UBS consumption indicator.

Nordic Europe: Swedish and Danish consumer sentiment. Icelandic wages and consumer prices. Swedish retail sales, trade balance and PPI. Norwegian unemployment.

Eastern Europe: Czech business and consumer sentiment. Hungarian unemployment.

Australia, New Zealand and South Africa: Australian and South African producer prices. Australian consumer prices, export and import prices, and index of leading economic indicators. New Zealand’s trade balance.

Canada, Mexico and Brazil: Canadian and Mexican wholesale turnover. Mexican retail sales and trade balance. Brazil’s current account, producer prices and consumer confidence.

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



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