Next Week

May 20, 2011

Next week begins with Canadian markets closed Monday for Victoria Day and the U.S. Treasury market shutting early afternoon on  Friday for the Memorial Day weekend.  The Bank of Japan will publish its monthly economic assessment and release minutes of a previous meeting, and policymakers in Colombia and Mexico will be holding interest rate-setting meetings.

The calendar of U.S. economic releases is headed by GDP, personal income and spending and durable goods orders and includes some hosing statistics like the FHFA house price index, pending home sales, new home sales, and weekly mortgage applications.  The Federal Reserve Banks of Chicago, Richmond, and Kansas City will release their manufacturing activity indices, and the final U. Michigan consumer sentiment reading will get reported.  Investors will also be interested in weekly jobless claims, chain store sales, consumer confidence, and energy inventories.

Japan will be reporting customs trade, consumer prices, retail sales, corporate service prices, department and supermarket sales, small business sentiment, and the index of leading economic indicators. Singapore and Thailand will be reporting GDP.  Hong Kong consumer prices and Singapore producer prices are on the calendar, and so are Malaysian unemployment and South Korean consumer confidence.

Preliminary results of the Euroland, German and French monthly purchasing manager surveys will arrive.  Other euro area releases include industrial orders, money and credit growth, economic sentiment, and the index of leading economic indicators.  GDP heads a list of German releases that also includes the IFO business climate index, consumer confidence, consumer prices, and the index of leading economic indicators.  France will release business sentiment and consumer confidence.  Italy, Ireland and Spain report retail sales.  Irish producer prices, Belgian business sentiment, and Greece’s PPI and trade balance also are due.

Britain, like Germany, releases its second estimate for 1Q economic growth.  The U.K. public-sector borrowing figures, consumer confidence, and Nationwide house price index are arriving, too, and the monthly survey of retailer conditions gets reported by the Conference of British Industries. 

Scheduled Swiss releases include money growth, the trade balance, and real GDP.  Norway reports GDP, Iceland announces its CPI, and Sweden releases trade figures.  Some East European releases will be Czech business sentiment and Polish retail sales. 

Turkish capacity usage and Sn trades and producer prices are arriving.  Australia’s calendar for next week has private investment, construction completions, and the index of leading economic indicators.  New Zealand reports on its index of expected inflation. 

Mexico and Brazil release their current account and unemployment data.  Canada reports on wage earnings.

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


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