Next Week

July 10, 2015

Greek Debt Crisis:  It’s crunch time.  Tomorrow and Sunday, finance ministers and political leaders hold meetings to consider whether to accept the Greek proposal.  July 20, when Greece owes a payment to the ECB, is the absolute latest date to have a deal and avert default.

Central Banks:  Monetary policy meetings are scheduled next week in Indonesia, Canada, Chile, Euroland and Japan.  BoJ Governor Kuroda and ECB President Draghi hold press conferences after their respective meetings.  Federal Reserve Chair Yellen delivers Humphrey-Hawkins semi-annual testimony before the House Financial Services Committee on Wednesday and the Senate Banking Committee on Thursday.  Vice Chair Fisher, Mester, Williams and George are among the other Fed officials, who will be speaking in public next week.

Holiday: Bastille Day in France.

Chinese Data Releases:  Quarterly GDP and reserves and monthly retail sales, industrial production, fixed asset investment, trade balance, money and credit growth, and foreign direct investment.

Japan:  Revised industrial production, capacity usage, the tertiary index and the Conference Board’s indices of leading and coincident economic indicators.

Selected Other Asian Indicators:  Indian, Indonesian, and Singaporean trade statistics.  Malaysian CPI, Singapore retail sales, and South Korean unemployment and index of leading economic indicators.

United States Data:  Retail sales, CPI, PPI, Philly Fed and Empire State manufacturing surveys, National Association of Home Builders housing market index, housing starts, building permits, NFIB index of small business confidence, Reuters/U. Michigan consumer confidence index, and monthly budget, plus weekly jobless insurance claims, chain store sales, consumer comfort, energy inventories, and mortgage applications.

Eurozone:  Industrial production, construction output, trade balance, CPI, car registrations (i.e. sales), and ZEW index of investor expectations.  Also the ECB publishes the findings of its latest survey of professional forecasters.

Members of Euroland:  German, Spanish, and French indices of leading economic indicators.  German ZEW index, Dutch retail sales, Greek import prices, and Portuguese PPI.  German, Italian, French, Austrian, Finnish, and Spanish consumer prices.  Dutch, Italian, Spanish and Belgian trade figures.

Britain and Switzerland:  U.K. same store sales, CPI, RPI, PPI, DCLG house price index, labor statistics, and index of leading economic indicators.  Swiss retail sales and ZEW index of investor perceptions.

Nordic Europe:  Icelandic consumer prices and unemployment.  Swedish CPI and consumer confidence.

Eastern Europe:  Polish retail sales, consumer prices and current account.  Hungarian and Polish industrial output.  Czech and Polish producer prices.  Czech GDP and current account.

Canada, Mexico and Brazil:  Canadian CPI and monthly survey of manufacturing sales, orders and inventories.  Mexican and Brazilian indices of leading and coincident economic indicators.  Brazilian retail sales.

Australia and New Zealand:  Australian consumer sentiment, motor vehicle sales, expected inflation and index of leading economic indicators.  New Zealand food prices, quarterly CPI, and business purchasing managers index.

South Africa and Turkey:  South African retail sales and Turkish unemployment.

Copyright 2015, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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