Next Week

October 8, 2010

The week ahead begins with a meeting in Washington of G-7 central bank chiefs and finance ministers, a group which has not released a formal statement in over a year.  There are holiday closures Monday in the United States for Columbus Day, Canada for Thanksgiving Day and Japan for Health-Sports Day.  FOMC minutes due Tuesday will be closely scrutinized in light of signaled interest by Fed policy-makers to restart the quantitative easing engine.  In Turkey, Korea, Chile, and Mexico, central bank interest rate policy meetings are scheduled.  The Monetary Authority of Singapore will be releasing its semi-annual policy statement.  Many central bankers have public speeches in the period, including Bernanke, Dudley, Yellen, Hoenig, Lacker, and Lockhart from the Fed, Trichet, Stark, Smaghi, Mersch and Weber from the ECB and Sentance, Fisher and Miles from the Bank of England and Bank of Japan Governor Shirakawa.  The U.S. Treasury Department semi-annual currency market report, the document that identifies currency manipulators if any, will be published on Friday.

The U.S. data calendar features retail sales, the U. Michigan preliminary consumer confidence index,  the IBD/TIPP optimism index, the Empire State manufacturing index, producer prices, trade, import prices, business inventories, and the Empire State manufacturing index, plus weekly readings on chain store sales, consumer confidence, jobless insurance claims, mortgage applications and energy inventories. 

Japan releases consumer confidence, machinery orders, money and bank lending growth, corporate goods prices, revised industrial production, capacity utilization, and the Bank of Japan’s regional economic report.  China reports money, bank lending, and trade figures.

From the euro area, investors will get industrial production, trade statistics, and consumer prices.  France and Italy announce industrial production figures.  Germany, France, Spain and Italy release consumer prices, and German wholesale prices are due, too.  The ECB Bulletin will be published on Thursday.

Britain’s data slate has same-store sales, the RICs and DCLC house price indices, trades, unemployment, employee earnings, and the Nationwide gauge of consumer confidence. Swiss producer prices, Swedish consumer prices, Polish consumer prices and Norwegian CPI and trade figures are scheduled, too.

Australia reports mortgage loans, business confidence and sentiment, consumer confidence, and expected inflation.  New Zealand releases food prices and its manufacturing purchasing managers index. 

Scheduled Canadian releases include home prices, trade figures, consumer prices, auto sales, and the survey of manufacturers.

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


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