Next Week

July 22, 2011

Hungary and New Zealand have scheduled interest rate policy meetings next week, and the Fed Beige Book gets published.  The regional Federal Reserves in Richmond, Kansas City, New York and Dallas released manufacturing survey results, and the Chicago and Milwaukee purchasing manager surveys arrive, too.

The rest of the U.S. data calendar is led by the first estimate of 2Q GDP and also includes the employment cost index, consumer confidence, new home sales, the Case-Shiller house price index, pending home sales, durable goods orders, and the U. Michigan consumer sentiment index.  Weekly figures for jobless insurance claims, energy inventories, consumer confidence, chain store sales, and mortgage applications will be also watched.

Canada will be reporting monthly GDP, earnings, producer prices and raw material prices.  Brazil’s current account is due.

Australian monetary authorities have signaled that the quarterly CPI report on Wednesday will strongly influence their future policy.  Australia also reports the PPI, money and credit growth, and the index of leading economic indicators.  New Zealand and Turkish trade figures and building permists arrive, as do South African producer prices.

Several Japanese data releases are scheduled: corporate goods prices, the Shoko Chukin small business sentiment  index, housing starts, consutruction orders, labor statistics, real household spending, retail sales, industrial production, and the manufacturing purchasing managers index.  Some other Asian figures next week include Singapore’s CPI, PPI, consumer confidence index and industrial production, South Korea’s current account and industrial production, Malaysian producer prices, and Hong Kong trade numbers.

Turning to Europe, the euro area will be reporting money and credit growth, consumer prices, and a variety of sentiment measures.  From Germany will be announced import prices, retail sales, consumer confidence, consumer prices and unemployment.  France releases consumer spending on manufactured goods, while Italy reports consumer prices and wages.  Spain’s current account is due.  So are Greek trade numbers and producer prices, Belgian business confidence and consumer prices, and Dutch producer prices.

The main U.K. report will be 2Q GDP growth.  Money and credit figures also are scheduled.  So are the Nationwide British house price index and consumer confidence.  Britain’s business interest group, the CBI, publishes results of its latest surveys of industry and retailers.  Unemployment will be reported in both Denmark and Sweden.  Swedish trades and GDP also get released.  Icelandic consumer prices and producer prices get announced, too.  Czech indicators for business and consumer confidence are scheduled.  Hungary releases unemployment and its PPI index.

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


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