Next Week

January 15, 2010

The week to January 22 has a light schedule of central bank meetings, just the Bank of Canada on Tuesday.  Officials there have already pledged not to raise rates before the middle of this year.  The Bank of Japan holds a quarterly branch managers meeting and releases the results of a loan officer survey.  The Bank of Canada will release a quarterly policy report with new forecasts two days after its rate announcement, and minutes from the Bank of England’s January meeting will be published on Wednesday.  The ECB monthly Bulletin also arrives next week.  Shirakawa has a press conference in the week.  Bini-Smaghi, Stark and Gonzalez-Paramo, governors of the ECB, have speaking engagements.  So do King, Posen, and Tucker from the Bank of England.

U.S. markets are closed Monday to observe Martin Luther King’s Birthday.

A very big week lies ahead for China with the release of fourth-quarter GDP growth as well as monthly data on the PPI, CPI, retail sales, industrial production, and business investment.

Scheduled U.S. data include producer prices, housing starts, the National Association of Home Builders index, the index of leading economic indicators, Treasury Department data on capital flows, and the Philly Fed manufacturing index, plus the usual assortment of weekly figures such as jobless claims, energy stocks, chain store sales, mortgage applications and consumer sentiment.

Among British data to be released, investors will learn the results of the consumer price index, labor market statistics, the CBI industrial trends survey, M4 growth, retail sales, the budget, and the Rightmove index of home prices.

Poland reports labor statistics, producer prices and industrial production.  Sweden releases unemployment figures.

Euroland’s data slate is led by preliminary PMI figures for manufacturing and services from the bloc as a whole and from Germany and France.  Industrial orders and the balance of payments are due, too, as is the ZEW indices of investor sentiment toward Germany and Euroland.  German producer prices, French business sentiment, Italian trade and industrial orders, Dutch and Belgian consumer confidence, and Belgian business sentiment are on tap, too.

Japan releases revised industrial production, consumer confidence, the tertiary and all-industry indices, machine tool orders and the index of leading economic indicators.  Hong Kong unemployment and consumer prices, South Korean GDP growth and Taiwanese unemployment and export orders are among principal data getting released in other Asian markets.

Canada reports consumer prices, the monthly survey of manufacturing sales, orders and inventories, as well as wholesale turnover, retail sales and securities transactions between residents and non-residents.  Australia announces auto sales, import prices and consumer confidence, while New Zealand reports quarterly consumer prices and monthly retail sales.  South African retail sales will also be released.

Some Latin American data highlights to watch for are Brazil’s current account, Mexican unemployment and trade, and Colombian retail sales and industrial output.

Copyright Larry Greenberg 2010.  All rights reserved.  No secondary distribution without express permission.


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