Next Week

September 28, 2012

Central banks in the U.K., euro area, Poland, Australia, Japan and Iceland hold monetary policy meetings next week, and the FOMC releases minutes from its mid-September meeting.  Chinese markets are closed all week for the National Holiday commemorating the 63rd anniversary of the Communist revolution.  Germany celebrates Unity Day on Wednesday.  Australia is closed Monday for Labour Day, and Republic Day in Portugal is set for Friday.

The first of three Romney-Obama U.S. presidential debates will be held on Wednesday.

This first week of October will see the release of many purchasing manager surveys covering manufacturing, services and, for Britain and Germany, construction.

Arriving U.S. data other than the PMI’s feature the ADP private jobs estimate and the Labor Department full jobs report, factory orders, construction spending, the NAPM index, auto sales, and weekly chain store sales, energy inventories, jobless insurance claims, mortgage applications, and consumer comfort.

The Bank of Japan’s quarterly Tankan survey of companies, which exerts particular influence over its monetary policy, arrives on Monday, three days before the first of two Policy Board meetings scheduled in October.  Other Japanese releases of interest will be international reserves, auto sales, wage earnings, and the index of leading economic indicators. Elsewhere in Asia, Thailand and the Philippines report both consumer and producer prices.  Malaysia, India, South Korea and Indonesia release trade figures.  Consumer prices arrive from Indonesia, Taiwan, and South Korea, while Hong Kong reports retail sales.

From the euro area, market participants will learn the latest jobless rate.  Retail sales, producer prices, and the third estimate of 2Q GDP are also on the data calendar.  Some national releases include Dutch consumer prices, Irish industrial production and Italian unemployment.

In Britain, both the Nationwide and Halifax house price indices arrive next week, along with Bank of England figures on M4 money, mortgage lending and consumer credit.  The British Retail Consortium releases its shop price index.  Swiss reserves, Norwegian and Hungarian industrial production, and Czech and Romanian retail sales may attract some attention.

Canada reports producer prices, while Brazil will be releasing consumer prices, industrial production and trade numbers.

Australia’s calendar of indicators getting released includes new home sales, retail sales, the trade balance, and building permits.  Turkish consumer and producer prices are also due.

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


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