Next Week

November 1, 2013

Interest rate policy meetings are scheduled next week at central banks in the euro area, Great Britain, Australia, Iceland, Poland, the Czech Republic, Romania, Serbia and Malaysia.  Bank of Japan minutes from the early October meeting and the Reserve Bank of Australia’s quarterly Monetary Policy Statement will be published.  The top person at the Federal Reserve (Bernanke), Bank of Japan (Kuroda) and European Central Bank (Draghi) speak publicly.  So do a number of other Federal Reserve officials including Rosengren, Powell, Lockhart, Lacker, Dudley, Williams, Fisher and Pianalto.

Many more purchasing manager surveys arrive.  Manufacturing data will be reported for Spain, Italy, France, Germany, the whole euro area, Denmark, Singapore and Hungary.  Construction PMIs are due on Britain, Germany and Australia.  Non-oil PMIs will be released for Egypt, Saudi Arabia and the United Arab Emirates, and the list of service-sector surveys includes the United States, India, China, Japan, Australia, Brazil, Sweden, Russia, Ireland, Italy, Germany, France and Euroland as a whole.  Canada’s IVEY-PMI index is due Wednesday.

Industrial production will be reported in Germany, Britain, France, Spain, Sweden, Finland, Norway, the Czech Republic, Hungary, Romania, Denmark, Turkey, and South Africa.

Merchandise trade figures are due for China, Germany, Britain, France, Australia, Canada, Switzerland, Austria, Finland, the Czech Republic, Taiwan and Malaysia.

In addition to the above items,

  • Scheduled U.S. data feature the first estimate of 3Q GDP and the October labor force survey (jobs, unemployment, and wages.  Quarterly labor productivity and unit labor costs are also due, as well as monthly releases of personal income and spending, factory orders, the IBD/TIPP optimism index, the New York are PMI (a.k.a. NAPM index), consumer credit and the Reuters/U. Michigan index of consumer sentiment.  The usual weekly checks of jobless claims, consumer comfort, chain store sales, mortgage applications and energy inventories round up this pretty extensive national data calendar.
  • Japan releases statistics covering the monetary base, index of leading economic indicators and international reserve holdings.
  • Indonesian GDP, Filipino consumer and producer prices, and Thai consumer confidence are some other Asian data arrivals of note.
  • Euro area retail sales and producer prices are due.  So is the Sentix measure of investor sentiment toward the region. 
  • The EU will be updating its GDP projections for member economies.
  • German and French current accounts are on tap.  German industrial orders and the French budget will be reported as well.
  • National consumer price data are being released by the Netherlands, Ireland, Cyprus and GreeceAustrian wholesale prices and Portuguese third-quarter unemployment are two other scheduled releases of note.
  • Britain’s calendar shows the ONS and Halifax house price indices, same-store sales, car sales, construction output, and monthly GDP.
  • The Swiss will be reporting international reserves, retail sales, unemployment, consumer confidence, and the CPI.
  • Romanian, Czech and Hungarian retail sales are scheduled, as well as Romania’s PPI and the Czech jobless rate.
  • North and South of the United States, Canada reports unemployment, the monthly change in jobs, and wage earnings, as well as housing starts and permits, while Mexico and Brazil each release CPI figures. 
  • Turkey, like the Philippines, releases both consumer and producer prices next week.
  • Australia’s monthly labor market report heads a calendar that also includes expected inflation, retail sales, home prices, job ads, and business confidence and conditions.
  • New Zealand labor statistics are also due along with quarterly labor costs.

The United States reverts to Standard Time on November 3 by turning clocks back an hour at 3:00 am.  From then until March 9, 2014 at 2:00 am, the difference of New York and Washington from London will be 5 hours, from Continental European centers will be 6 hours, and from Tokyo will be 14 hours.

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



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