Next Week

April 29, 2011

A number of European centers will be closed Monday for May Day.  Then Japan closes Tuesday for Constitution Day, Wednesday for Greenery Day and Thursday for Children’s Day as the Golden Week holidays continue.  It will be a fairly busy week nonetheless.  Central bank meetings are planned for Australia, the Philippines, the ECB, the Bank of England, Hungary, the Czech Republic, Romania, and Hungary, and minutes from the last Swedish Riksbank meeting are being released.  Being the first week of a calendar month, there will be many purchasing manager surveys reported and a focus in the United States on labor market trends.

In the United States, the ADP estimate of private jobs and Challenger report on job cuts are due Wednesday, followed by first-quarter productivity and unit labor costs plus weekly jobless insurance claims due Thursday, and the Labor Department’s April jobs report on Friday.  Other planned U.S. data releases cover construction spending, factory orders, auto sales, and consumer credit, as well as weekly snapshots of chain store sales, mortgage applications, consumer confidence, and energy inventories.  Bernanke, Yellen, Dudley, Kocherlakota, and Evans of the Fed have speaking engagements.

Canada releases producer prices, raw material prices, building permits, and its April labor market figures.  Brazil reports consumer prices, industrial output, and trade data, while Mexico chimes in with consumer confidence.  Bank of Canada Governor Carney speaks Friday.

The brunt of the euro area releases will be service, manufacturing, and construction purchasing managers indices.  Producer prices and retail sales are also scheduled, as are German industrial production and orders, French trades and public finances, Italian wage earnings, and Portuguese and Spanish industrial output.  ECB President Trichet holds a press conference following Thursday’s rate announcement.

Britain will be one of the closed markets on Monday.  Later in the week, that economy releases three house price measures (Nationwide, Halifax, and Hometrack), the CBI monthly survey of retailers, mortgage figures, money and credit figures, shop prices, and producer prices.  Switzerland, the Czech Republic, Romania and Denmark report retail sales.  Swiss unemployment numbers, Hungarian trades, and Danish industrial output arrive, too. 

Japan has a thin data calendar that includes the services purchasing managers survey, the monetary base, and cash earnings.  Consumer prices data will be reported in Indonesia, Thailand, the Philippines and South Korea.  India announces trade numbers, and Hong Kong reports retail sales.

Australian and New Zealand commodity price data are scheduled.  Both countries also report building permits.  Australian retail sales and house prices are due, too, as are New Zealand labor costs, jobs growth and unemployment.  Turkey will release both consumer prices and producer prices.

Copyright Larry Greenberg 2011.  All rights reserved.  No secondary distribution without express permission.


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