Next Week

March 15, 2013

On the central banking beat, monetary policy meetings are scheduled in South Africa, Iceland, India and the United States.  The FOMC meeting will be followed by a Bernanke press conference and the unveiling of new macroeconomic forecasts.  Central bank Bulletins will be published in Switzerland and Australia, and minutes from the March Bank of England meeting are being released.  Shirakawa vacates the Bank of Japan governorship as do his deputies, Nishimura and Yamaguchi. 

On Wednesday, Japan’s market will be closed for the Vernal Equinox holiday, British Chancellor of the Exchequer presents the annual U.K. budget, which promises to be unapologetically and ill-advisedly austere.  That’s also the day of the Bernanke press conference and the second day of newly appointed U.S. Treasury Secretary Lew’s visit to China. 

The U.S. data release calendar is comparatively light, featuring the NAHB and FHFA housing indices, the Philly Fed manufacturing index, the index of leading economic indicators, existing home sales, the preliminary Markit PMI manufacturing index, and weekly observations of jobless insurance claims, chain store sales, consumer confidence, energy inventories and mortgage applications.

Elsewhere in the Western Hemisphere, Canada releases retail sales, wholesale turnover, and the monthly survey of manufacturing sales, orders and inventories.  Mexico also reports both retail and wholesale sales and well as unemployment.  Chilean GDP and the Brazilian current account are two of the other Latin American data highlights next week.

Japan’s all-industry index, index of leading economic indicators, and both supermarket and department store sales are scheduled for release.  So are Chinese property prices, manufacturing PMI, and index of leading economic indicators.  Hong Kong and the Philippines report their current accounts.  Malaysian and Taiwanese unemployment and CPI reports are due, too.

In the euro area, one high impact release will be the preliminary PMI reports for the whole region as well as those for Germany and France.  Proprietary reports from Germany’s IFO and ZEW institute also attract plenty of attention.  Ezone wide construction output, trade and current account figures and consumer confidence are scheduled next week, too.  So are EU car sales, Italian industrial production and trades, French business sentiment, Spain’s trade balance, Dutch and Belgian business and consumer confidence, and the Portuguese and Greek current accounts.

Britain is tapped to report consumer prices, producer prices, labor statistics, public finances, retail sales, the industrial trends survey, and the Rightmove and OMS home price indices.  Switzerland’s government statistical agency updates its macroeconomic forecasts, and Swiss M3 money growth and trade figures will be reported.  Denmark releases both retail sales and consumer confidence.

The Australian index of leading economic indicators arrives as do Aussie auto sales.  New Zealand’s calendar includes consumer confidence and quarterly GDP and current account numbers.  South African consumer prices and Turkish business sentiment arrive, too.

Copyright 2013, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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