Next Week

May 25, 2013

Interest rate policy meetings are scheduled at the central banks in Canada, Israel, Hungary, Thailand and Brazil during the coming week.  Minutes from the BOJ meeting of April 26 will be released, and Governor Kuroda and Deputy Governor Nakaso speak publicly.  Paul Tucker of the Bank of England’s Monetary Policy Committee also speaks publicly.

The week kicks off with the U.S. and British markets respectively closed Monday for Memorial Day and a summer bank holiday.  The OECD Outlook will be released Wednesday, and OPEC oil ministers meet in Vienna on Friday.

A number of countries will release GDP statistics,  including the United States, Canada, Sweden, South Africa, Poland, Brazil, the Philippines, Switzerland, India, Spain, and Denmark.

Japan reports consumer prices, labor statistics, retail sales, small business sentiment, wage earnings, industrial production, auto output, construction orders, housing starts, household spending, and the manufacturing purchasing managers index.  Elsewhere in Asia, the manufacturing PMIs of China and South Korea also arrive.  Some other Chinese data due are corporate earnings and the index of leading economic indicators, while South Korea also releases consumer confidence, industrial output and the current account.  Hong Kong and Thai trade figures arrive, as do Hong Kong retail sales, Malaysian producer prices  and Thai industrial production.

In addition to revised GDP, the U.S. data calendar has pending home sales, the Case Shiller house price index, the Richmond and Dallas Fed manufacturing indices, the Chicago and Milwaukee regional manufacturing PMIs, the U. Michigan/Reuters consumer sentiment index and personal income and expenditures.  Plus, there will be the usual weekly suspects like jobless insurance claims, energy inventories, chain store sales, consumer comfort and mortgage applications.

Canada reports both monthly and quarterly GDP, as well as the quarterly current account and monthly producer prices and labor cash earnings.  Mexico’s trade data are due.

Ezone-wide releases will cover the retail purchasing managers survey, money and credit growth, unemployment, CPI inflation, and economic sentiment.  Germany reports import and consumer prices, retail sales and unemployment.  From Italy comes business sentiment, producer and consumer prices, and unemployment, while France, Portugal and Finland announce consumer confidence.  Belgian and Spanish consumer prices, Greek, Irish and Spanish retail sales, the Spanish current account, Belgian unemployment, and Greek and Dutch producer prices are some of the other planned national data releases from the euro area.

In Britain, both the Nationwide and Hometrack house price indices arrive.  The Bank of England will be reporting money and lending growth as well as mortgage approvals.  The GFK releases British consumer confidence, and the CBI will unveil results from its latest monthly survey of British distributive trade trends.

Elsewhere in Europe, Swiss, Icelandic and Swedish trade data are due.  Sweden also releases retail sales, the PPI, and the current account.  Switzerland’s index of leading economic indicators and UBS consumption index arrive.  So due Norwegian retail sales, Danish unemployment, Icelandic and Hungarian producer prices, and Iceland’s CPI.

New Zealand has a number of releases: business sentiment, money growth, the terms of trade, and building permits.  Turkish and South African trade figures are scheduled, as are South African producer prices.  In Australia the index of leading economic indicators and private credit growth are due too, along with construction completions.

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



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