Next Week

April 17, 2009

Next week ends with a G-7 meeting of finance ministers and central bank chiefs and includes the annual British budget on Wednesday.  Central bank interest rate policy meetings are scheduled in Canada, Sweden, Colombia, Hungary and India.  The Bank of Canada releases a semi-annual Monetary Policy Report.  The Bank of Japan publishes results of the loan officer’s survey, and minutes from the last central bank meetings in Australia and Britain get released.

Scheduled U.S. data releases included the CPI, FHFA house price index, existing and new home sales and index of leading economic indicators, plus the usual weekly reports on energy inventories, chain store sales, mortgage applications, consumer confidence and jobless claims.

Euroland releases are led by Thursday’s preliminary PMI figures for the whole currency union, Germany, and France.  Euroland industrial orders and current account figures also arrive, and so do several national measure of business and consumer sentiment.  The list includes the German ZEW and IFO indices, Dutch, French and Belgian business sentiment, Dutch and Belgian consumer confidence, and French consumer spending.  German producer prices and Italian trades get reported, too.

Britain has a big slate of scheduled data: unemployment, the Rightmove house price index, wage earnings, public-sector finances, M4, the CBI industrial trends index, retail sales, but most importantly first-quarter GDP growth.  Switzerland reports consumer prices and trade figures, while Sweden announces unemployment.

Japanese data are due for department store and supermarket sales, customs trade, corporate service prices, and the all-industry index, a monthly compilation and disaggregation of all supply-side activities.  South Korea releases quarterly GDP, while Singapore reports industrial production.

Both quarterly consumer prices and producer prices arrive in Australia, and auto sales and import figures are due as well.  Several key Mexican releases are on the schedule such as unemployment, consumer prices and retail sales.  Russia also reports retail sales, while Polish producer prices and industrial production are set for releases.  The focus in Canada will not be on new data but rather the central bank, which will cut rates to marginal heights and embrace some elements of quantitative easing.  Canada reports retail and wholesale sales, as well as net securities transactions.

Copyright 2009 Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.


Comments are closed.