Next Week

June 16, 2012

The week kicks off with parliamentary elections on Sunday, June 17 in Greece and France.  A summit of G20 leaders in Mexico is scheduled for Monday – Wednesday, and EU finance ministers have a meeting in Luxembourg set for next Friday.

On the central bank watching front, interest rate meetings are scheduled in India, Norway, Turkey and, most importantly, the United States where hopes have resurfaced that new easing initiatives may be announced.  After the FOMC decision on Wednesday, Chairman Bernanke will answer questions at a press conference.  Minutes from prior central bank policy meetings will be released by the Bank of Japan, Bank of England, and Reserve Bank of Australia.

Arriving U.S. data include several housing market statistics: the NAHB index, housing starts and permits, the FHFA index, and existing home sales.  Other releases are the Philly Fed manufacturing index, the preliminary PMI manufacturing index, the index of leading economic indicators, and the usual assortment of weekly releases for jobless insurance claims, energy inventories, mortgage applications, chain store sales, and consumer comfort.

Euroland’s data calendar is headlined by preliminary purchasing manager survey results for the whole region, Germany, and France.  Germany’s IFO business climate index, ZEW expectations index, producer price index, and index of leading economic indicators are due too, while Frances business sentiment gets reported.  Euroland’s current account, industrial orders, construction output and preliminary consumer confidence are scheduled.  So are the latest observations on Italian orders and sales, Belgian consumer and business sentiment, Spanish trade, and Greek current account.

Several indicators are coming out in Britain: retail sales, unemployment and wage earnings, the Rightmove and DCLG house price indices, consumer prices, and the CBI survey of retailers.  Swiss industrial production, trade surplus, and ZEW expectations index get reported.  So do Swedish and Danish consumer confidence, Norway’s current account, Danish retail sales and Polish industrial production and consumer and producer prices.

Japan has scheduled the all-industry index, the customs trade balance, and the index of leading economic indicators.  China’s preliminary PMI manufacturing index will be published.  Hong Kong and Filipino current accounts are being announced.  Hong Kong and Malaysia release consumer prices and unemployment.

Australian auto sales and housing starts are scheduled.  So are New Zealand quarterly GDP and current accounts, South African consumer prices, and Turkish consumer confidence. 

Canada releases wholesale and retail sales figures, consumer prices, the index of leading economic indicators and securities transactions with non-residents.  Brazil’s current account arrives on Friday.

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


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