Next Week

June 3, 2017

Central Bank Action: Monetary policy meetings are scheduled at the European Central Bank and in India, Australia, Poland, Serbia, Peru and Ukraine. The ECB  meeting on Thursday will be held off-site in Tallinn, Estonia and followed by President Draghi’s press conference.

Special Events: British parliamentary elections on Thursday will select the politicians who negotiate the terms of Brexit and post-Brexit relationships with other countries. The OECD Economic Outlook gets published on Wednesday.

Holidays: Whit Monday in Germany, Italy and Greece. Queen’s Birthday observed Monday in New Zealand. South Korean Memorial Day on Tuesday.

Numerous Purchasing Manager Surveys: Ones covering manufacturing in Hong Kong, Singapore, Lebanon, and South Africa. Non-oil PMI’s for Egypt, Saudi Arabia and the United Arab Emirates. Service sector PMIs will be released for Japan, Euroland, Germany, France, Italy, Spain, Ireland, the United States, Great Britain, China, India, Russia, Australia and Brazil. Construction PMIs for German and Australia and retail PMI surveys on the euro area, Germany, France and Italy are due, too.

U.S. Economic Statistics: Factory orders, consumer credit, IBD/TIPP optimism index, JOLTS index, and weekly jobless insurance claims, chain store sales, mortgage applications, consumer comfort and energy inventories.

Japanese Data: GDP, current account, labor cash earnings, international reserves, bank lending, economy watchers index, money growth, tertiary index, machine tool orders, bankruptcies and index of leading economic indicators.

China: CPI, PPI, trade balance, reserves and foreign direct investment.

Selected Other Asian Data: Malaysian and Filipino trade balances. South Korean current account, Indonesia consumer confidence, Filipino CPI and Malaysian industrial production.

Euroland: GDP, retail sales and Sentix measure of investor sentiment.

Members of the Euro Zone: German industrial production and orders, trade balance, current account, and labor costs. French, Spanish, Finnish, and Greek industrial production. French, Portuguese, Austrian, Greek, Finnish and Cypriot trade balances. Irish, Dutch, Greek, and Cypriot consumer prices. Italian retail sales. French current account and business sentiment.

U.K. and Switzerland: British industrial production, construction output, Halifax house price index, car sales, trade deficit, and RICs house price index. Swiss consumer prices and unemployment.

Eastern Europe: Romanian, Hungarian and Czech retail sales. Romanian and Hungarian GDP. Romanian, Hungarian and Czech trade balances. Hungarian and Czech consumer prices and industrial output. Czech unemployment.

Nordic Europe: Norwegian, Swedish and Danish industrial production. Norwegian CPI, PPI and current account. Danish trade.

Australia and New Zealand: Australian GDP, current account, trade, home loans, and corporate profits. New Zealand manufacturing activity.

Turkey and South Africa: Turkish consumer prices, producer prices, retail sales and industrial output. South African GDP, business sentiment and factory output.

Mexico and Brazil: Mexican CPI, PPI, industrial production, trade balance, and consumer sentiment. Brazilian consumer prices.

Canada: Monthly survey of jobs, unemployment and average hourly earnings. Also housing starts, building permits, new home prices, IVEY-PMI survey, and capacity utilization.

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



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