Next Week

September 24, 2010

The coming week encompasses the cusp between the third and fourth quarters of 2010.  Among the top tier of central banks, no interest rate policy meetings are scheduled, but monetary officials in Taiwan, Poland, Romania, Hungary, Russia and Israel are doing so.  At least five FOMC officials are scheduled to speak in public, and so too will the governors of the Bank of Japan and Bank of Canada.  A meeting of Euroland finance ministers is planned.

A crowded data calendar will be dominated by the released results of September manufacturing purchasing manager surveys for Euroland, Germany, France, Italy, Spain, Ireland, Austria, the Netherlands, Britain, Russia, Poland, Hungary, the Czech Republic, Sweden, Switzerland, Japan, South Korea, Taiwan, India, China, Turkey, South Africa, Australia, the United States and Brazil.

Other Japanese data releases will cover customs trade, corporate service prices, the Shoko Chukin index of small business sentiment, consumer prices, retail sales, labor market statistics, household spending, auto sales, construction orders, housing starts and the Tankan survey, a quarterly comprehensive report on business conditions and expectations.  Trade data elsewhere in Asia will be released by Indonesia, Hong Kong, South Korea, and India.  South Korea, Thailand and India report consumer prices.  South Korean and Thai industrial production are due.

A fairly extensive slate of British figures includes quarterly GDP and the current account, qurarterly estimates of investment and services, the Hometrack and Nationwide house price indices, mortgage approvals, M4, and consumer confidence.  Sweden releases trade figures, retail sales and consumer sentiment, while Switzerland reports the index of leading economic indicators, the current account and the consumption indicator index.  Hungarian and Polish current account data arrive, too.

In the euro area, consumer prices, economic, industrial and consumer confidence arrive the the bloc as a whole, as well as German consumer prices and labor statistics, French consumer spending, consumer confidence, and producer prices, as well as Italy’s PPI, CPI, wage index, business sentiment and consumer sentiment.  Belgium and Spain are the first to report September CPI figures, while the Netherlands releases business sentiment.

Turning to the United States, the Dallas, Richmond, and Kansas City Feds report manufacturing survey results.  Milwaukee and Chicago PMI readings will arrive prior to Friday’s national U.S. PMI report.  Both the Conference Board and U. Michigan consumer sentiment measures are due, as are construction spending, auto sales, revised GDP, and the Case Shiller house price index.  Investors will also pay attention to the usual weekly figures on jobless insurance claims, mortgage applications, chain store sales, energy inventories, and consumer sentiment.

Canada releases producer prices, raw material prices, and monthly GDP. Brazil reports trade data and industrial production, and Peru announces its CPI and PPI.

South Africa also releases both the consumer and producer price indices, plus trade and budget figures.  Turkish and New Zealand trades are scheduled, too.  Australia reports private credit growth and building permits. 

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


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