Next Week

May 29, 2009

Unlike the past week, none of the major markets will be closed for holiday during the first week of June.  Central bankers hold interest rate meetings in Euroland, Britain, Australia, Canada, Indonesia and Peru; only the latter two are expected to announce interest rate cuts.  Data highlights include the U.S. and Canadian labor force surveys, Canadian and Australian first-quarter GDP numbers, and various purchasing managers surveys from a large number of economies.  Many countries have at least two PMI reviews, one for manufacturers and another for services.

Other scheduled U.S. data include personal income and spending, construction spending, pending home sales, car sales, factory orders, consumer credit, and quarterly productivity and unit labor costs.

Euroland will also be reporting producer prices, revised GDP, and retail sales.  France announces producer prices and labor statistics.  Dutch consumer prices are due, too.

Britain will report producer prices, shop prices, consumer credit, the Hometrack and Halifax house price indices, the Nationwide consumer confidence index, and M4.  Swiss GDP and consumer prices arrive, as do Norwegian industrial production and consumer confidence.  Turkey reports both its CPI and PPI.

Canada releases producer prices and building permits as well as its PMI, GDP, and labor market figures.

Australia has a comparatively abundant data calendar, which includes trades, expected inflation, retail sales, home sales, corporate survey results, building approvals, the current account and, last but hardly least, GDP.

Following this past week’s cornucopia of releases, Japan’s data slate comprises just car sales, a corporate survey, the monetary base and the PMI for services only.

Among Pacific Rim indicators to be released will be trade figures for India, Malaysia, and South Korea.  South Korea, The Philippines, Taiwan, Thailand, and Indonesia report CPI inflation.

Brazilian industrial output and GDP and Mexican consumer prices are three of the key Latin American scheduled releases.

No fewer than seven top Fed officials have scheduled speaking engagements, headed by Chairman Bernanke and New York Fed President Dudley on Thursday.

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


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