Next Week

June 13, 2014

Central Bank meetings are being held next week in Norway, Switzerland, Thailand, the Philippines, Russia and, most importantly, by the Federal Reserve, which will unveil new macroeconomic and individual interest rate forecasts.  There will be a press conference Wednesday led by Chair Janet Yellen.  Ironically, her predecessor Ben Bernanke also speaks that day in Zurich.  The Reserve Bank of Australia and Bank of England will be publishing minutes from their meetings early this month, and the minutes of the BOJ’s May meeting also arrives.  Bank of Japan Governor Kuroda speaks Friday, the same day that Ezone finance minister gather for a half-year review in Luxembourg.

Scheduled U.S. data are headlined by monthly industrial production and capacity use plus the quarterly current account deficit.  The Philly Fed and Empire State manufacturing indices, Treasury capital flow data (TIC), National Association of Home Builders housing market measure, and index of leading economic indicators also arrive next week, along with weekly figures for jobless insurance claims, consumer comfort, chain store sales, energy inventories and mortgage applications.

Euroland reports labor costs, consumer prices, construction output, consumer confidence and the current account surplus.  The ZEW economic institute will release investor sentiment toward Germany and the euro area as a whole.  EU car sales arrive, too, and so will German producer prices, Dutch and Belgian consumer sentiment, the Greek current account, and Italian trade and industrial orders and sales. 

The Conference Board will publish several countries’ indices of leading and coincident economic indicators including those of the United States, Germany, France, Australia and Spain.

Britain’s data release calendar is showing the CPI, PPI, RPI, retail sales, Rightmove house price index, DCLG house price index and public-sector borrowing.  Switzerland reports the combined PPI/import price index plus its trade surplus.  Denmark releases retail sales.  Polish and Icelandic consumer prices arrive as do Czech producer prices.  Poland will also report industrial production.

This will be a comparatively lean week for Japanese data — just machine tool orders, the government’s index of leading economic indicators, the all-industry index, and department store sales.  China releases foreign direct investment and property prices. Indian wholesales prices and South Korean producer prices are scheduled, too.

North of the United States, Canada will be reporting retail sales, wholesale turnover, consumer prices and existing home sales.  To the south, Mexico releases retail and wholesale sales, too.

Down under finds Australia reporting on auto sales, and New Zealand releasing quarterly data for the current account and GDP.  South Africa reports its CPI, current account and retail sales figures.

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



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