Next Week

April 16, 2010

Next week starts with a meeting Monday in Athens of Greek government representatives with officials of the EU, IMF, and ECB in order to expedite completion and quick approval of a EUR 45 billion aid package.  Central bank meetings are scheduled in Sweden, Canada, the Philippines, Thailand, and India, with the latter two expected to boost their interest rates.  Minutes from the Bank of England April policy meeting will likely reveal a unanimous 9-0 vote to leave policy as is, and the Bank of Canada also publishes its quarterly Monetary Policy Report.  Kohn, the outgoing highly influential Fed policymaker, and Nishimura of the Bank of Japan have speaking engagements.

Some of the most key data releases next week are U.S. new and existing home sales, Japan’s tertiary and all-industry indices, South Korean GDP, revised British GDP, and preliminary euro area, German and French purchasing managers survey readings.

From an otherwise light U.S. data calendar, investors will get the PPI, FHFA index, durable goods orders, the leaders index, and various weekly statistics covering new jobless claims, mortgage applications, chain store sales, energy stocks, and consumer confidence.

Britain’s calendar is lengthier and includes unemployment, worker wage and benefit earnings, the monthly budget, mortgage approvals, retail sales, the Rightmove house price index, the monthly CBI corporate survey of industrial trends, and the aforementioned revised GDP.

The euro area PMI reports will have readings for manufacturing, services, and a composite of the whole Euroland, German, and French economies.  Euro zone data on the fiscal deficits and debt of its members will also attract keen interest, as will German sentiment indices (both the IFO and ZEW reports).  Euroland also releases industrial orders, the monthly current account, and consumer confidence.  Germany reports producer prices, Italy announces industrial orders, and France releases business sentiment and consumer spending.  Belgian and Dutch releases of both consumer and business confidence are scheduled, too.

Poland as several reports: the PPI and CPI, retail sales, industrial production, and jobs.  The Swiss trade surplus will be reported, and both Russia and Hungary are set to release retail sales.

Additional Japanese releases include consumer sentiment, machine tool orders, customs trade, department store sales, the index of leading economic indicators, and results of a survey of loan officers.  Other Asian figures will cover consumer prices in Malaysia, Hong Kong and Singapore, and Taiwanese industrial production, export orders, and unemployment.

Investors will learn the latest trends in Canadian wholesale turnover, retail sales, consumer prices, leading economic indicators, and security transactions with non-residents.  The Bank of Canada’s Policy Report will include new projections of consumer prices and GDP.

Brazil’s current account, Mexican retail sales, trade and unemployment, and Argentine and Colombian industrial output head the list of Latin American data due.

Australia reports auto sales, import prices and the index of leading economic indicators.  New Zealand announces house prices and quarterly CPI results.

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


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