Next Week

July 24, 2015

Central Banking Front:  Five central banks hold monetary policy reviews: Brazil, Russia, Israel, Mexico, and the Federal Reserve.  No press conference is scheduled after the FOMC statement, and markets do not anticipate a policy change.  The monthly ECB Bulletin will be published, and Governor Stevens of the Reserve Bank of Australia speaks publicly.

Scheduled U.S. Data:  The Richmond and Dallas Fed manufacturing indices, the Case Shiller house price index, pending home sales, consumer sentiment indices from both the Conference Board and the University of Michigan, durable goods orders, second-quarter GDP and employment cost index, the Chicago and Milwaukee regional PMIs, Markit Economics’ estimated services PMI, and weekly jobless insurance claims, consumer comfort, energy inventories, mortgage applications and Redbook chain store sales.

Japanese Data:  Consumer prices, industrial production, motor vehicle output, corporate service prices, small business sentiment, retail sales, unemployment and other labor market indicators, real household spending, housing starts, and construction orders.

Selected Other Asian Data:  Chinese consumer confidence, corporate earnings, and index of leading economic indicators.  Hong Kong and Thai trade statistics.  Hong Hong retail sales and Singapore producer prices.

Eurozone:  M3 and bank credit growth, economic sentiment, unemployment, consumer prices and index of leading economic indicators.

Members of Euroland:  German import prices, consumer prices, IFO business climate, retail sales, consumer sentiment and unemployment.  Italian business and consumer sentiment, CPI, PPI, and unemployment.  French consumer spending and consumer confidence.  Spanish GDP, current account, consumer prices and retail sales.  Irish, Austrian and Belgian GDP.  Greek, Austrian and Cypriot producer prices.  Portuguese and Finnish consumer confidence.  Irish retail sales and current account.  Portuguese business sentiment, retail sales and unemployment. 

British and Swiss Data:  The CBI releases monthly industrial and distributive trade surveys.  U.K. GDP, money and credit statistics, consumer confidence and the Nationwide house price index arrive, too.  Swiss retail sales, index of leading economic indicators from KOF, and the UBS consumption indicator.

Nordic Europe and Hungary:  Swedish, Norwegian and Danish retail sales.  Swedish GDP and Danish unemployment.  Hungarian producer prices and unemployment.

Australia and New Zealand:  Aussie and New Zealand money growth and building permits.  Australian quarterly PPI and monthly import and export prices.  New Zealand business sentiment and activity index. 

Canada, Mexico and Brazil:  Canadian GDP, PPI, and raw material prices.  Mexican trade balance and Brazilian PPI.

South Africa and Turkey:  South African unemployment and producer prices.  South African and Turkish trade data.

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



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