Next Week
May 8, 2009
Next week has an extremely crowded data calendar, relatively few central bank meetings (just Korea, Mexico and Turkey), and no holiday closures in major markets.
The main data event will be the first-quarter GDP figures from Euroland and many of its members including the big four of Germany, France, Italy and Spain. Euroland, France, and Italy also release monthly industrial production and CPI, while Germany and Spain announce consumer prices. French figures for the current account, budget, and employment arrive as well.
Japan‘s scheduled data releases are led by machinery orders but also include reserves, leading and coincident indicators, M2 and bank lending, the current account, the Economy Watchers survey, corporate goods prices, and bankruptcies. BoJ Governor Shirakawa speaks publicly on Wednesday.
The United States reports retail sales, industrial production, capacity usage, consumer prices, import prices, producer prices, business inventories, the trade deficit and TIC capital flows, the Empire State factory index, the U. Michigan consumer sentiment survey, and the usual weekly assortment jobless claims, energy stocks and chain store sales. Several Fed officials including Bernanke have speaking engagements.
From Britain, we get unemployment, wages, industrial production, same-store sales, trades, several house price measures, and the Bank of England’s quarterly inflation report, which includes growth as well as price forecasts.
Denmark reports consumer prices and the current account. Norway’s CPI, PPI, and trade figures are due. From Sweden we get consumer prices, unemployment, and capacity use. Switzerland announces the CPI, PPI, retail sales, and consumer confidence. Several Eastern European countries report GDP.
This is the week of the month when most Chinese figures get released including the CPI, PPI, retail sales, trades, industrial production and fixed asset investment. Hong Kong GDP, South Korean unemployment, and industrial production for both Malaysia and India will be reported, too. So will South African and Brazilian retail sales.
Canada releases its monthly manufacturing survey, auto sales, trades, and house prices. Australia reports consumer confidence, business sentiment and conditions, and housing finance. The annual Australian budget on Tuesday is expected to include a third fiscal stimulus package. New Zealand reports retail sales and home prices.
Among the aforementioned central bank meetings, Turkish and Mexican authorities are expected to cut rates, but street analysts expect no change from the Bank of Korea.
Copyright 2009 Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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