Next Week

October 12, 2013

The coming week will be dominated by the possibility of a U.S. debt default and the strain such exerts on financial markets both before and after October 17.

U.S. markets will be partially shut Monday for Columbus Day.  Canada is closed Monday for Thanksgiving.

On the central bank watching front, there are interest rate policy meetings in Thailand and Serbia.  The Federal Reserve Beige Book of regional conditions gets released on Wednesday, and Reserve Bank of Australia policy meeting minutes arrive on Tuesday.  Dudley, Fisher, George, Evans, Pianalto, and Kocherlakota are some of the Fed officials with public speaking engagements.  Kuroda and Iwata of the BOJ Board talk publicly next week as well.

Scheduled Japanese data releases included revised industrial production, department store sales, the all industry index, capacity utilization, and machine tool orders.

China’s data calendar is very full.  It shows GDP, the trade balance, retail sales, industrial production, fixed asset investment, money and bank lending growth, foreign direct investment, consumer prices and producer prices.  India releases wholesale prices, and Hong Kong and South Korea have scheduled unemployment figures.  Singapore reports GDP, retail sales and the trade balance.

Scheduled Euroland statistical releases next week are the current account, trade balance, CPI, PPI, construction output, car sales and the ZEW index of investor sentiment.  Among member releases, trade and/or current account information is due from Italy, the Netherlands, Finland, Ireland, and Greece.  Finnish, Austrian, and French CPI data are due.  So are Belgian consumer confidence, Greek import prices and the French and Spanish indices of leading economic indicators.

British economic statistics to be released will cover wage earnings, unemployment, and the CPI, RPI, and PPI.  U.K. retail sales and the ONS house price index.

Swiss producer prices and investor sentiment are scheduled, as are Swedish and Icelandic unemployment, Danish consumer prices, and the Norwegian trade balance. 

Hungary and Poland report industrial production. Czech producer prices and Polish consumer prices are due, too.

Aside from Treasury Department-compiled capital flows, most U.S. releases are not from the government and so should arrive: the NAHB housing market index, the Empire State and Philly Fed manufacturing indices, the index of leading economic indicators, and weekly figures such as chain store sales, consumer comfort, and mortgage applications.  Last week, the Labor Department managed to release jobless insurance claims, which are most compiled from state offices.

Canada has scheduled the release of consumer prices and its monthly survey of manufacturing orders, sales, and inventories. Brazil releases retail sales.

Down under, upcoming Australian data releases involve business sentiment, home loans, motor vehicle sales, job ads, and the index of leading economic indicators. New Zealand’s services PMI, third-quarter CPI, and consumer confidence index are due.  In South Africa, which also lies in the Southern Hemisphere, retail and wholesale sales will be arriving.

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



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