Next Week

May 23, 2014

Global markets will be watching this weekend’s Ukraine election and EU parliamentary election results.

U.S. and British markets are closed Monday for Memorial Day and a spring bank holiday, respectively, while a number of continental European countries are observing Ascension Day on Thursday.

Central bank interest rate decisions will be announced in Brazil, Hungary, New Zealand and Israel.  Kuroda and Iwati of the Bank of Japan speak publicly, and so do Lacker, Plosser, George, and Williams of the Fed.

Being the last week of the month, Japan is scheduled to release many economic statistics, notably retail sales, corporate service prices, small business confidence, labor statistics, household spending, labor cost earnings, housing starts, construction orders, consumer prices, the manufacturing purchasing managers survey, industrial production and auto output.

Some other Asian indicators arriving next week are Singaporean and Malaysian producer prices, Filipino, Thai, and Hong Kong trade, South Kroean and Singaporean industrial production, Chinese profits and index of leading economic indicators, South Korean consumer confidence and current account, and Filipino GDP.

The United States releases revised GDP for 1Q and many monthly data such as the FHFA and Case-Shiller house price indices, pending home sales, the Conference Board and U. Michigan gauges of consumer sentiment, the Chicago and Milwaukee PMIs, durable goods orders, personal income and spending, the Dallas and Richmond Fed manufacturing indices.  Weekly chain store sales, energy inventories, jobless insurance claims, mortgage applications and consumer comfort will also attract market interest.

Canada reports the first quarter current account and GDP results, March GDP, producer prices and raw material prices.  Mexican trade and Brazilian GDP are two meaningful Latin American data releases.

In Euroland, money and credit growth, a variety of sentiment measures, and the Conference Board’s index of leading economic indicators are due.  German retail sales, consumer confidence, unemployment, and import prices arrive, as do Spanish, Italian, Finnish, Austrian, Greek and Cypriot producer prices.  Italy, France, and Portugal report consumer confidence.  Greek and Spanish retail sales, Dutch business sentiment, Belgian and Italian consumer prices, French consumer spending, and Cypriot industrial production are some of the other scheduled releases within the common currency area.

The U.K. data calendar includes the Nationwide house price index, consumer confidence, the CBI survey of distributive trade trends, British Bankers Association statistics on mortgage lending. 

Swiss GDP, trade balance, and consumption indicator arrive next week.  Poland reports retail sales and GDP.

In Nordic Europe, Sweden releases retail sales, producer prices and the trade balance; Denmark reports GDP; Norway releases retail sales, and Iceland reports the CPI and PPI.

Australia and New Zealand each report M3 money.  New Zealand also reports trade figures, building permits and business sentiment.  Australia’s index of leading economic indicators, private investment and new home sales also get report, as do South African GDP, trade, and producer prices and the Turkish trade balance and index of consumer confidence.

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



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