Next Week

June 1, 2012

Central bank interest rate policy meetings are scheduled next week at the European Central Bank, Bank of England, Bank of Mexico, Bank of Canada, Reserve Bank of Australia, Central Reserve Bank of Peru, and National Bank of Poland.  Fed Chairman Bernanke testifies in Congress on Thursday.

British markets will be closed Monday and Tuesday as the countries celebrates Queen Elizabeth’s Diamond Jubilee.

Service sector purchasing managers survey results get released for the United States, Great Britain, Euroland, Germany, France, Italy, Spain, Ireland, Australia, China, India, Russia, and Sweden.  Construction PMI results will be reported for Germany, Australia, and Britain.  Other PMI surveys are due for Hong Kong, Saudi Arabia, Mexico, Canada, and United Arab Emirates.

It will be a comparatively light week for U.S. data releases, including factory orders, consumer credit, wholesale inventories, productivity and unit labor costs, the NAPM index, the monthly budget and weekly jobless claims, chain store sales, energy inventories, and mortgage applications.

Canada releases housing starts, trade numbers, and the labor force survey.  Mexico announces consumer prices and consumer confidence.

Japan will be reporting bank loans, the economy watchers index, revised 1Q GDP, auto sales, and the index of leading economic indicators.

Several Chinese figures will be announced, including the CPI, PPI, and retail sales.

Euroland, like Japan, reports revised GDP.  Ezone producer prices, retail sales, and the Sentix measure of investor sentiment arrive too.  The Greek, German, Italian, and Dutch industrial production numbers are due, along with Finnish and Portuguese GDP, German and French trades, Greek and Dutch consumer prices, and German orders and wholesale prices.

Britain’s data calendar for the week includes same-store sales, shop prices, producer prices and the Royal Institute of Chartered Surveyors house price index. 

International reserve holdings at a variety of central banks will be reported from which the Swiss case is attracting particularly heavy attention as it will help clarify how much intervention support was needed in May to keep the franc from strengthening past 1.2000 per euro.  Swiss consumer prices and unemployment also will be reported.  Denmark, Sweden, and Norway release industrial production, and Icelandic GDP numbers are scheduled for release, too.

Upcoming Australian economic figures include expected inflation, the trade balance, job ads, the current account, labor statistics, lending to firms and individuals, and GDP. South Africa and Turkey announce new industrial production figures, and Turkish consumer and producer prices are due as well.

Copyright 2012, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.


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