Next Week

July 13, 2012

Central bank policy meetings are scheduled next week in Canada, Mexico, Turkey, South Africa, and tentatively Russia.  The central banking highlight of the week, however, will be Chairman Bernanke’s semi-annual Humphrey Hawkins testimonies, first on Tuesday before the Senate Banking Committee and reprised the following day in front of the House Financial Services Committee.  The Bank of Canada releases an update of its Monetary Policy Report on Wednesday, and minutes of the last Australian monetary policy meeting will be published Tuesday.

Japanese markets will be closed for the Marine Day holiday on Monday.

Scheduled U.S. data releases feature retail sales, industrial production, housing starts, and consumer prices and also include business inventories, the Empire State and Philly Fed manufacturing indices, the National Association of Home Builders housing index, existing home sales, TIC Treasury-collected capital flows, and the index of leading economic indicators.  Weekly figures on chain store sales, energy inventories, mortgage applications, consumer comfort and jobless insurance claims will be of additional interest.

In Euroland as a whole, consumer prices, trade and current account figures, the ZEW Indices of expectations and conditions, and construction output data are due.  So is the French index of leading economic indicators.  The German ZEW indices and producer prices, Italian trade, orders and CPI numbers, Dutch and Belgian consumer confidence, Dutch  consumer spending and unemployment, Greece’s current account, and Spanish trades are slated, too.

Britain’s data calendar shows consumer prices, retail sales, labor statistics, the Nationwide, Rightmove and DCLG house price indices, and public finances.  Switzerland releases industrial production, The ZEW expectations index, and the trade surplus.  Danish and Portuguese producer prices, Norwegian trades, and Icelandic consumer prices and wage figures are also on the calendar.  Further to the east, Poland will release consumer prices, producer prices and industrial production.  The Czech PPI arrives, and so do Turkish consumer confidence and unemployment, and Israeli GDP.

Australia will be releasing auto sales as well as export and import prices.  Quarterly CPI inflation in New Zealand will be unveiled. Canada, South Africa and Mexico each report wholesale turnover.  Other Canadian upcoming releases include securities transactions and consumer prices.  Mexico also reports retail sales, and South African announces CPI inflation.  Peru releases GDP.

There aren’t any meaningful Japanese releases scheduled.  Singapore reports on the trade balance and Malaysia on consumer price inflation.

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


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