Next Week

January 22, 2016

Central Bank Scene:  Interest rate policy meetings are being held at the Federal Reserve (no press conference to follow), Bank of Japan (where new price and growth forecasts will be unveiled), Reserve Bank of New Zealand, South African Reserve Bank, Bank of Colombia, Bank of Israel, Magyar Nemzeti Bank, and Bank of Russia.

Politics:  Portuguese voters elect a president on Sunday, January 24.  This will be the final week before the first event of the U.S. presidential primary season, which is the Iowa Caucus on February 1.

Scheduled U.S. Economic Data Releases:  Fourth-quarter GDP, the employment cost index, the Dallas, Richmond and Kansas City manufacturing indices, consumer confidence (both the Conference Board index and the Reuters/U. Michigan measure), new home sales, the FHFA house price index, the Case-Shiller house price index, pending home sales, durable goods orders, the Chicago and Milwaukee regional manufacturing purchasing managers indices, the composite and service sector PMIs compiled by Markit Economics, and weekly figures on jobless insurance claims, chain store sales, energy inventories, consumer comfort and mortgage applications.  Washington D.C. is expected to be digging out from one of its biggest snowfalls ever.

Japanese Data:  Customs trade, index of leading economic indicators, small business sentiment, corporate service prices, consumer prices, industrial output, unemployment, household spending, motor vehicle production, construction orders, housing starts, and retail sales.

Selected Other Asian Releases:  Chinese profits, consumer confidence and index of leading economic indicators.  Hong Kong, Filipino, and Thai trade balances.  Singaporean industrial production, unemployment, CPI, and PPI.  South Korean, Taiwanese and Filipino GDP.  Malaysian producer prices and South Korean retail sales and industrial output.

Euroland:  Economic sentiment, money and credit growth, consumer prices and indices of leading and coincident economic indicators.

Data from Eurozone Members:  German business climate, consumer sentiment, consumer prices, import prices and retail sales.  French PPI, GDP, consumer spending, and consumer confidence.  Italian retail sales, wage growth, producer prices, and industrial orders.  Spanish, Greek, Cypriot, and Austrian PPI.  Irish, Spanish, Greek, and Portuguese retail sales.  Spanish and Belgian consumer prices and Finnish, Greek and Austrian producer prices.  Dutch business sentiment and Austrian manufacturing PMI.  Finnish unemployment and consumer confidence.  Belgian GDP and Portuguese consumer sentiment.

United Kingdom and Switzerland:  GDP, consumer confidence, mortgage approvals, Nationwide house price index, and CBI monthly surveys of industrial trends and distributive trade trends.  Swiss index of leading economic indicators and UBS consumption indicator.

Nordic Europe:  Norwegian and Swedish retail sales.  Swedish trade balance, unemployment, consumer confidence, retail sales and PPI.  Icelandic CPI and PPI.

Eastern Europe:  Czech business sentiment and consumer confidence. Polish, Hungarian and Russian unemployment.  Polish GDP.

Canada:  Producer prices, raw material prices and monthly GDP.

Latin America:  Mexican retail sales and trade balance and unemployment.  Chilean, Brazilian and Mexican unemployment.  Brazilian consumer confidence, current account and CPI.  Chilean industrial output.

Australia and New Zealand:  Aussie PPI, CPI, index of leading economic indicators, export and import prices, money and credit growth, business conditions and business confidence.  New Zealand trade balance, building permits, money growth, business sentiment and services PMI.

South Africa and Turkey:  South African and Turkish trade.  South African producer prices and money and credit growth.  Turkish business confidence.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.



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