Next Week

July 9, 2010

Analysts do not expect scheduled central bank meetings in Japan, Turkey, Thailand, Mexico or the Philippines to sanction a change in interest rates.  Sweden’s Riksbank will be releasing minutes of its last meeting.  The ECB Bulletin arrives, and the Bank of Japan reports its latest economic assessment.  EU finance ministers hold a meeting to discuss budgetary issues.  Lacker of the Fed and Shirakawa of the Bank of Japan have speaking engagements.  Upper house parliamentary elections in Japan take place on Sunday; the upper house can obstruct legislation but is not as powerful as the lower house, where control swung to the Democratic Party in August 2009.  The 221st anniversary of Bastille Day in France is on Wednesday.

The United States will be reporting industrial production and capacity usage, consumer prices, producer prices and import prices, retail sales, the monthly Federal budget, the IBD/TIPP optimism index, the New York Fed and Philly Fed indices, the Treasury monthly report on capital flows, the trade deficit, the preliminary U. Michigan consumer sentimetn index, the JOLTS index, the NFIB small business index, business inventories, and the usual weekly figures for jobless claims, energy stocks, consumer confidence, mortgage applications and chain store sales.

The slate of Canadian data next week includes the index of leading economic indicators, the monthly manufacturing survey of orders, sales and inventories, motor vehicle sales, existing home sales, stock, bond and other international transactions, and the monthly trade balance. Mexican industrial production and Brazilian retail sales arrive, too.

Scheduled Japanese figures include corporate goods prices, the Reuters monthly Tankan simulation,  revised industrial output, capacity usage, and the tertiary index of service-sector activity.  This will be a big week for Chinese data, including many monthly releases covering the CPI, PPI, industrial production, retail sales, money and credit growth and trade numbers but also the added attraction of quarterly GDP.  Some other Asian data reports to be released are Indian wholesale prices and industrial production and Korean unemployment and export prices. 

From Britain, investors await final estimates of first-quarter GDP, the current account, the services index, same-store sales, the RICs and DCLG house price indices, unemployment, jobs, wages and the Nationwide index of consumer confidence.  Sweden announces unemployment and home prices, while Norway releases trade data. Switzerland reports the PPI and import price index as well as the ZEW index of investor sentiment. 

The ZEW indices for Germany and Euroland are also due.  Other euro zone releases will be consumer prices, industrial production trades, and car sales.  France, Spain and Italy report consumer prices.  Italy also announces trade figures, and Germany releases wholesale prices. 

Poland, Romania, and the Czech Republic release consumer prices and current account numbers.  Hungary announces consumer prices, and Russia has scheduled industrial production.

Australia announces housing and business loans, business confidence and conditions, auto sales, and inflation expectations. New Zealand reports monthly housing loans and import prices and quarterly consumer prices.  Turkey releases consumer prices, unemployment and consumer confidence.

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


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