Next Week

November 22, 2013

The continuity of trading next week will be dampened by the U.S. Thanksgiving holiday on Thursday.  The day after Thanksgiving traditionally is the busiest shopping day of the year.  2013 has a fairly short U.S. holiday shopping interval.

Central bank interest rate policy meetings are scheduled in Thailand, Brazil, Hungary and Israel.  Minutes arrive from the Bank of Japan’s end-October meeting after which the semi-annual price and growth outlook was published.  Governor Kuroda and BOJ Policy Board member Shirai speak publicly during the week.

The U.S. data calendar features several housing market statistics — pending home sales, the FHFA house price index, housing starts, building permits and the Case-Shiller house price index — plus the Dallas and Richmond Fed manufacturing indices, the Chicago Fed National Activity Index, the Conference Board’s index of leading economic indicators and consumer confidence index, the Reuters/U. Michigan index of consumer sentiment, the Chicago and Milwaukee regional manufacturing PMIs, durable goods orders and weekly observations of jobless insurance claims, mortgage applications, chain store sales, consumer comfort, and energy inventories.  Thursday items like jobless claims will be reported Wednesday.

The usual Japanese contingent of late month indicators are on tap: corporate service prices, labor statistics, retail sales, personal consumption, industrial production, auto output, housing starts, small business sentiment, construction orders and the manufacturing purchasing managers survey.

Among other Asian countries, Singapore will be releasing both consumer and producer prices.  South Korea reports both consumer and business sentiment as well as the current account and industrial production.  Kong Kong, the Philippines and Thailand release trade numbers.  Thai industrial production, Filipino GDP, and China’s index of leading economic indicators also arrive.

Euroland has a heavy data calendar.  For the Ezone as a whole, this will include money and credit growth, business and consumer sentiment, the retail PMI, consumer prices, unemployment, and the index of leading economic indicators.  Germany, Belgium, Italy, and Spain report consumer prices.  Italy, Greece, Spain, Austria, Cyprus, Finland, Ireland, and the Netherlands release producer prices. Germany, Ireland, Portugal, and Greece report retail sales.  The Austrian manufacturing PMI is due, as are business sentiment indices for France, Italy, Portugal, and the Netherlands.  German, Finnish and Portuguese consumer confidence are due, as are German unemployment and Portuguese and Cypriot industrial production.

Britain’s upcoming indicator releases include money growth, mortgage applications, revised GDP, the September services index, consumer confidence and the Nationwide house price index.  Swiss employment, GDP, index of leading economic indicators and UBS consumption indicator arrive.

From the Nordic region, investors will learn the latest trends in Swedish GDP, PPI, and trade; Norwegian unemployment and retail sales; Danish GDP and unemployment; and Icelandic CPI and PPI inflation.

Some east European releases include Hungary’s PPI, Polish unemployment and retail sales, and Czech business and consumer confidence.

Canada will be reporting both September and 3Q GDP, as well as the quarterly current account and monthly PPI figures.  Mexico’s current account and Brazilian consumer confidence and PPI indices are some of the upcoming Latin American offerings.

New Zealand releases money growth, housing permits, trade numbers and business sentiment.  Turkey also reports business sentiment and trade, plus consumer confidence.  Australia’s calendar shows construction completions, business investment and new home sales, while South Africa is poised to report trades, money growth, GDP, and producer prices.

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



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