Next Week

November 2, 2014

U.S. clocks have moved back one hour, restoring the usual time difference with Europe but lengthening the difference between New York and Tokyo by an hour to 14 hours.  U.S. gubernatorial and congressional elections are on Tuesday.  Japan is closed for Culture Day on Monday.

One focus during the first week of November will be various and sundry purchasing manager surveys for October, measuring conditions in manufacturing, services, construction and retail activities.

There will be central bank interest rate policy meetings in Australian, the U.K., the Czech Republic, Romania, Canada, Malaysia, Euroland, Poland, Iceland, and Thailand. 

In the U.S., the focus will be on the labor market, with the release first by ADP of estimated private sector job increase, then weekly jobless insurance claims, productivity, unit labor costs and finally unemployment, nonfarm jobs, and average hourly earnings.  Other releases will involve the New York PMI, motor vehicle sales, construction spending, the trade deficit, factory orders, the IBD/TIPP optimism index, the federal budget, and weekly chain store sales, consumer comfort, energy inventories and mortgage applications.

Japan reports auto sales, the monetary base, labor cash earnings, and the index of leading economic indicators.  Other Asian releases include Filipino consumer and producer prices, Thai consumer confidence, CPI and PPI, South Korean consumer prices, Indonesian GDP, CPI and trade, and Malaysian trade.

Britain’s shop price inflation, Halifax home price index, industrial production, and trade balance arrive, as do Swiss retail sales and consumer prices, Swedish and Norwegian industrial output, and Czech and Romanian retail sales.

Revised EU Commission growth forecasts are due as are Euroland retail sales, German orders, industrial production and trade, French business sentiment, industrial production and trade, Dutch consumer prices, and Spanish jobs and industrial output.

Australia releases monthly labor statistics, building permits, retail sales, and trade data.  New Zealand reports unemployment and labor costs. 

In the Western Hemisphere, Canadian trade figures, labor statistics and IVEY-PMI are due, and so are Brazilian CPI and trade and Mexican consumer and producer prices.

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



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