Next Week

April 21, 2017

Central Banks: Monetary policy meetings are scheduled in Japan, Euroland, Sweden, Colombia, Russia, Turkey and Hungary. BOJ Governor Kuroda and ECB President Draghi will hold press conferences. The BOJ Board publishes an updated Outlook of Economic Activity and Prices. The governor of the Reserve Bank of Australia and President of the Swiss National Bank also have public speaking engagements, as does Minneapolis Fed President Kashkari.

Holidays: On Tuesday, Italy observes Liberation Day and Portugal celebrates Freedom Day. Australia and New Zealand are closed for ANZAC Day. South Africal celebrates Freedom Day on Thursday.

Special Events: Round one of the French Presidential election on April 23. Unless somebody takes a majority of the votes, a run-off between the top two candidates in this round will face off against one another in a second round to determine France’s next president. The IMF/World Bank meetings in Washington began today and run through April 23.

Scheduled U.S. Data Releases: Lots of housing market measures: the FHFA housing price index, the Case-Shiller house price index, new home sales, and pending home sales. Other releases include first quarter GDP, the employment cost index and PCE price deflator, as well as monthly manufacturing indices from the Dallas, Kansas City and Richmond Feds, consumer confidence from both the Conference Board and U. Michigan, the Chicago Fed National Activity Index, the Chicago regional manufacturing PMI, and durable goods orders. Weekly chain store sales, jobless insurance claims, mortgage applications, consumer comfort and energy inventories will attract interest, too.

Japanese Statistics: Industrial production, unemployment, retail sales, real household spending, housing starts, construction orders, corporate service prices, consumer prices, supermarket sales, small business sentiment, motor vehicle output, the all industry index and the index of leading economic indicators.

Selected Other Asia Data: Chinese corporate profits and index of leading economic indicators. Hong Kong and Thai trade balances. South Korean GDP, industrial production and consumer confidence. Singaporean CPI, PPI, and industrial production.

Euroland: Debt and fiscal deficits as a percent of GDP. Economic sentiment, money growth and bank lending, consumer prices and index of leading economic indicators.

Members of the Euro Area: German CPI, retail sales, import prices, consumer confidence, and IFO business climate. French GDP, PPI, consumer sentiment and consumer spending. Spanish, Italian, Austrian, Finnish Cypriot and Greek producer prices. Italian and Portuguese business sentiment. Italian and Finnish consumer confidence. Greek and Portuguese retail sales. Austrian manufacturing PMI and GDP. Cypriot and Portuguese industrial production.

U.K. and Switzerland: British GDP, public finances, Rightmove house price index, Nationwide house price index and BBA estimate of mortgage approvals. The Confederation of British Industries’ industrial trends and distributive trades monthly surveys. Swiss money growth, trade surplus, ZEW expectations index, index of leading economic indicators, and UBS consumption indicator.

Nordic Europe: Danish, Norwegian and Swedish retail sales. Icelandic and Swedish unemployment. Icelandic CPI, PPI, and wage growth. Swedish consumer sentiment.

Eastern Europe: Polish and Hungarian unemployment. Hungary’s PPI.

Australia and New Zealand: Australian quarterly PPI and CPI. Aussie import prices, money growth and private credit expansion. New Zealand building permits and business sentiment.

South Africa and Turkey: South African and Turkish trade. South African producer prices, money and credit growth, and index of leading economic indicators.

Canada: Retail sales, wholesale turnover, monthly GDP, PPI, and raw material prices.

Mexico and Brazil: Mexican GDP, retail sales and trade balance. Brazilian current account, PPI and consumer confidence.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.



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