Next Week

October 29, 2016

Despite holiday interruptions, the week ahead is full of significant central bank meetings and plenty of economic data releases.

Time Change in Europe: Clocks in the region revert tonight to standard time from daylight savings time. The interval between time in Europe and the United States will accordingly shrink by an hour. London-New York, for instance, becomes a time difference of four hours instead of the usual five. A return to five hours will occur the following week, when the U.S. ends daylight savings time.

Purchasing Managers Surveys: Being the first week of a new month, a slew of manufacturing, service-sector, private, and non-oil PMI surveys get reported. So does Britain’s construction purchasing managers index.

Holidays: All Saints Day in Italy, France and Spain on Tuesday. All Souls Day in Brazil on Wednesday. Culture Day in Japan on Thursday, and Unity Day in Russia on Friday. Monday is Halloween.

Central Bank Activity: Monetary policy meetings in the United States, the U.K., Japan, Australia, the Czech Republic, Colombia and Romania. The BOJ Outlook for Growth and Prices report gets released, and Governor Kuroda presides over a press conference. No press conference accompanies the FOMC meeting, but Vice Chair Fisher speaks publicly late in the week. Bank of England Deputy Governor Cunliffe and Bank of Canada Governor Poloz also speak publicly.

Scheduled U.S. Data: Labor Department’s monthly jobs report. Also quarterly productivity and unit labor costs and monthly personal income and spending, motor vehicle sales, construction spending, factory orders, trade deficit, Chicago and New York regional PMIs, Dallas Fed manufacturing index, IBD/TIPP optimism index, and ADP estimate of private-sector jobs. Weekly jobless insurance claims, consumer comfort, mortgage applications, chain store sales, and energy inventories will arrive, too.

Japanese Statistics: Industrial production, retail sales, housing starts, construction orders, motor vehicle output and sales, consumer confidence and monetary base.

Other Selected Asian Data: Thai and Filipino consumer and producer prices. Indonesian and South Korean consumer prices. Chinese and South Korean current accounts. Thai, Malaysian and South Korean trade figures. Malaysian producer prices.

Euroland: GDP, unemployment, producer prices, and EU Commission forecasts.

Members of the Euro Area: German, Spanish, and Dutch retail sales. German, Spanish and Italian unemployment. Cypriot and Italian producer prices. Cypriot and Italian consumer prices. Spanish current account and Austrian GDP.

Britain and Switzerland: British consumer confidence, shop prices, car sales, mortgage approvals, M4 money growth, and Nationwide house price index. Swiss retail sales and consumer sentiment.

Nordic Europe: Icelandic PPI and Swedish industrial production.

Eastern Europe: Romanian PPI and Czech unemployment.

Australia and New Zealand: Australian trade, retail sales, building permits, and private credit growth. New Zealand building permits, labor statistics, M3 money growth, and business sentiment.

Turkey and South Africa: Turkish and South African trade. Turkish CPI and PPI. South African money growth and unemployment.

Canada and Brazil: Canadian monthly GDP, labor statistics, producer prices, and IVEY-PMI. Brazilian trade and industrial production.

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



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