Next Week
November 13, 2009
The week to November 20 provides a balance of a few key statistics like Japanese GDP and U.S. and British retail sales and many speeches by central bankers including Fed Chairman Bernanke, ECB President Trichet, and Bank of Japan Governor Shirakawa (twice). Among monetary policy meetings in Turkey, Japan, South Africa, and Colombia, only the first is projected to change rates. Central banks in Australia, where rates were hiked for a second time, and Britain, where quantitative easing was continued by at a scaled-down pace, will be releasing minutes from those meetings on Wednesday.
Other Fed officials slated to speak are Kohn, Bernanke’s right-hand man, Yellen, Fisher, Lacker, Bullard, and Plosser. Stark, Noyer, and Gonzalez-Paramo all of the European Central Bank will be also speaking publicly, as will Tucker, Fisher and Sentance from the Bank of England and Swiss National Bank President Roth. U.S. President Obama will be in Asia all week, visiting Japan, Singapore, China and South Korea.
Japan has a compact but important list of scheduled data releases. Aside from GDP on Monday, which will show positive growth in 3Q just as Euroland and U.S. figures did, monthly readings will arrive for the tertiary index, all-industry index and department store sales.
Euroland as a whole only reports consumer prices, trade figures and the current account. In addition, Italian trades and orders, Belgian and Dutch consumer confidence, final Spanish GDP, and German producer prices are due.
Britain announces consumer prices, retail sales, public finances, the CBI industrial sector survey, and the Rightmove index of house prices. Other European releases include Norwegian and Swiss trades, Swedish labor statistics, Polish and Russian industrial production, and Czech and Polish producer prices.
Many U.S. statistics will be arriving in this pre-Thanksgiving week. Such include consumer prices, producer prices, industrial production, retail sales, business inventories, housing starts and permits, the National Home Builders index, and both the Philly and New York manufacturing indices. The U.S. Treasury’s quarterly refunding announcement is set for Thursday, and that Department releases its monthly report on capital flows on Tuesday.
A monthly survey of manufacturing trends, consumer prices, wholesale sales, net securities transactions and the index of leading Canadian economic indicators comprise Canada’s scheduled slate of data due next week. Chilean GDP and Colombian retail sales and industrial output are among other Western Hemisphere releases to watch.
Some of the notable non-Japanese release from Asia will be Hong Kong unemployment and consumer prices, Chinese foreign direct investment, South Korean import prices and Malaysian consumer prices.
Australia’s key release of the week will be quarterly labor costs, and the monthly index of leading economic indicators are due, too. New Zealand will report its quarterly PPI, and South Africa releases retail sales.
Copyright Larry Greenberg 2009. All rights reserved. No secondary distribution without express permission.
ShareThis
