Next Week

October 29, 2010

Many markets in Continental Europe will be closed Monday for All Saints Day.  At least eleven central banks hold interest rate policy meetings next week: the Fed, ECB, Bank of Japan, Bank of England, Bank Indonesia, Reserve Bank of Australia, Reserve Bank of India, Hong Kong Monetary Authority, Central Bank of Iceland, National Bank of Romania and Czech National Bank.  Shirakawa of the Bank of Japan, Trichet and Smaghi of the ECB, and Plosser, Hoenig, Bullard, Lacker, and Hoenig of the Fed will be speaking to the public. The Reserve Bank of Australia publishes its quarterly statement on monetary policy.  The Bank of Japan will release minutes from its early October meeting, and Japan has a holiday, National Culture Day, on Wednesday.  In U.S. mid-term elections on Tuesday, the entire House of Representatives, 37 Senate seats, 37 governorships, and the composition of numerous state legislatures at stake. 

Being the first week of a new month, investors will be deluged with purchasing managers surveys from many countries, covering manufacturing, services and construction in Britain’s case. 

Scheduled U.S. releases feature the October Labor Department jobs report on Friday and also include personal spending and income, construction spending, factory orders, auto sales, chain store sales, the ADP private employment estimate, pending home sales, consumer credit, quarterly productivity and the usual weekly numbers on jobless insurance claims, chain store sales, energy inventories, mortgage applications, and consumer confidence.  The Treasury will announce its quarterly refunding.

A comparatively lean week for the euro area sees the release of the bloc’s PPI and retail sales reports plus German industrial orders and French retail sales.

In Britain, both the Hometrack and Halifax house price measures get reported.  Shop prices, car sales, and producer prices are due as well.  Swiss consumer prices are due.  Norway announces its latest labor market figures plus industrial output and retail sales, while Sweden publishes auto sales and service sector activity.

Japan’s monetary base, auto sales, and wage earnings are on the week’s calendar.  Indonesia, India, and South Korea release trade figures.  Indonesia and South Korea also report consumer prices, while retail sales are on Hong Kong’s release schedule.

From the lands down under, New Zealand will be reporting third-quarter employment and unit labor costs, while Australia releases home prices, building permits, retail sales and trade figures.  Turkish consumer prices arrive as well.

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


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