Next Week

June 18, 2010

The new British government presents its austerity budget on Tuesday.  Central bank meetings next week in the United States, Hong Kong, Norway, the Czech Republic, Hungary and Taiwan are not likely to result in an interest rate changes.  Minutes from the Bank of England meeting earlier this month will be published on Wednesday.  At the end of next week, Group of Twenty officials will meet in Toronto.  The G-20 has supplanted the G-7 as the favored forum for sharing economic information and coordinated policy.

Scheduled Japanese statistics are the all industry index, corporate service prices, customs trade, the consumer price index and department store and supermarket sales.

New and existing home sales, a final estimate of 1Q GDP growth and durable goods orders top a U.S. data slate that also includes the FHFA housing index, the KC and Richmond Fed indices, and the U. Michigan gauge of consumer sentiment.  Addition interest will be directed at weekly releases of jobless claims, which are stalled, mortgage applications, chain store sales, oil inventories, and consumer sentiment.

Flash purchasing manager readings for the euro area and its two biggest members, Germany and France, will be reported.  Other Euroland statistics arriving next week will be consumer sentiment, the current account, and industrial orders.  From Germany, investors get import prices and the IFO business climate index.  Italy and Germany report consumer confidence.  France and Belgium announce business sentiment figures, and Holland and France release GDP.  Italian wages and French consumer spending are due, too.

The Rightmove house price index, mortgage lending, a survey of retailers, and the PMI index for construction are on the roll call of British releases, but the budget and Bank of England minutes will command the most attention.  Switzerland reports trade data, while Sweden announces consumer confidence and producer price numbers.

Arriving data from New Zealand are the current account and GDP reports as well as trades and consumer confidence.  Australia releases auto sales, and Turkey publishes capacity utilization.  Canada has just two reports, but they are meaningful ones: consumer prices and retail sales.  Poland also releases those two releases.

Singapore and Hong Kong consumer prices are due.  So are Taiwanese export orders, unemployment and industrial output.  Mexican unemployment arrives.

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


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