Next Week

January 24, 2014

Some of the central bank policy meetings next week are taking place at the Fed, Reserve Bank of India, Reserve Bank of New Zealand, Bank of Mexico, Bank Negara Malaysia, Bank of Israel, and South African Reserve Bank.  Minutes from the Bank of Japan’s December 19-20 meeting will be published. 

Ezone finance ministers will be meeting Monday, and U.S. President Obama delivers the State of the Union address on Tuesday.

Also on Monday, Australian markets will be shut to observe Australia Day.  Then on Friday, China’s Year of the Horse lunar new year celebrations begin.

Scheduled U.S. data being released next week feature the first estimate of 4Q GDP growth and include the Dallas and Richmond Fed manufacturing indices, the Chicago and Milwaukee manufacturing purchasing manager indices, new home sales, pending home sales, the Case Shiller house price index, a flash estimate of the service-sector PMI compiled by Markit Economics, durable goods orders, the full-January Reuters/U. Michigan estimate of consumer sentiment, and assorted weekly indicators such as consumer comfort, chain store sales, jobless insurance claims, energy inventories and mortgage applications.

Japan will be reporting customs trade numbers, corporate service prices, housing starts, construction orders, industrial production, motor vehicle output, the manufacturing PMI, retail sales, household spending and small business sentiment.

Some of the other upcoming Asian data are South Korean and Thai industrial production, Hong Kong and Thai trade figures, Malaysian and Singaporean producer prices, Filipino GDP, South Korean consumer sentiment and curr4ent account, and China’s manufacturing PMI, index of leading economic indicators, and corporate profits.

Australia plans several releases: producer prices, import and export prices, business confidence and conditions, new home sales, private credit expansion, and two different indices of leading economic indicators, one by Westpac and the other from the Conference Board.  New Zealand trade data, building permits and service PMI arrive.  So do Turkish and South African trade numbers, Turkish consumer confidence and South African producer prices.

Turning to Europe, Ezone-wide consumer prices, money and credit growth, business and consumer sentiment, labor statistics and index of leading economic indicators are all due.  So are German retail sales, import prices, consumer prices, unemployment, and IFO business climate index; French, Dutch, Austrian, Cypriot, Greek and Italian producer prices; Spanish and Belgian GDP and CPI; Irish, Greek, Spanish and Portuguese retail sales; and Portuguese consumer and business sentiment.

The main release from Britain will be GDP.  M4 money, mortgage lending, the service index, Nationwide house price index and consumer confidence arrive, too.

Sweden and Norway release retail sales.  Swedish trade statistics, producer prices and consumer confidence are also scheduled. Iceland releases both consumer prices and producer prices, while Denmark reports unemployment.

The UBS Swiss consumption indicator and KOF index of Swiss economic indicators are each due next week.

Hungarian trade numbers and producer prices, and Polish GDP are a few of the noteworthy upcoming East European releases.

In the U.S. neighbors to the north and south, Canada will report monthly GDP and average weekly earnings, while Mexico is announcing the latest trade statistics.  Brazilian unemployment also arrives.

Copyright 2014, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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