Next Week

May 18, 2018

Central Banks: Monetary policy reviews in South Africa, Ukraine, South Korea and Hungary. FOMC minutes to be published. Powell, Harker, Evans, Dudley, Kaplan, Bostic and Kashkari of the Fed speak publicly. So will Reserve Bank of Australia Governor Lowe.

Holidays and Events: Whit Monday in Switzerland, France and Germany. Victoria Day on Monday in Canada. Buddha’s birthday celebrated Tuesday in Hong Kong and South Korea. Early close on the 25th for the U.S. Memorial Day holiday weekend. EcoFin meeting on Friday. Updated OECD forecasts unveiled on Friday.

Scheduled U.S. Economic Data Releases: New home sales, existing home sales, FHFA house price index, durable goods orders, Kansas City and Richmond Fed manufacturing surveys, and weekly jobless insurance claims, consumer comfort, chain store sales, energy inventories, and mortgage applications.

Euroland: Preliminary purchasing managers indices, consumer confidence and index of leading economic indicators.

Members of Euro Area: German and French preliminary PMIs. German GDP, IFO business climate, import prices and consumer confidence. French business sentiment and index of leading economic indicators. Finnish, Irish, and Spanish producer prices. Greek and Portuguese current accounts. Dutch and Belgian consumer confidence. Austrian industrial production and Spain’s trade balance.

U.K. and Switzerland: British GDP, retail sales, consumer prices, retail prices, producer prices, DCLG home price index, Halifax home price index, BBA mortgage approvals, public sector net borrowing, Rightmove house price index and the CBI surveys of industrial trends and distributive services. Swiss money growth and industrial production.

Nordic Europe: Danish and Norwegian consumer confidence. Icelandic and Norwegian unemployment. Swedish producer prices, Danish retail sales, and Icelandic wage costs.

Eastern Europe: Polish producer prices, industrial output and unemployment. Czech business sentiment and consumer confidence.

Japan and China: Japanese and Chinese indices of leading economic indicators. Japanese all industry index, manufacturing purchasing managers index, supermarket and department store sales, machine tool orders, and Tokyo consumer prices for May.

Other Selected Asian Releases: Singaporean and Thai GDP. Malaysian, Hong Kong and Singaporean consumer prices. South Korean producer prices and Singaporean industrial production.

Australia and New Zealand: Australian construction work done and index of leading economic indicators. New Zealand retail sales and trade balance.

South Africa and Turkey: South African consumer prices and index of leading economic indicators. Turkish consumer confidence.

Mexico and Brazil: Mexican and Brazilian current accounts. Mexican GDP, trade balance, retail sales and wholesale turnover. Brazilian consumer sentiment.

Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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