Next Week

November 5, 2017

Central Bank Beat: Monetary policy reviews scheduled in Australia, New Zealand, Poland, Serbia, Romania, The Philippines, Malaysia, Thailand, Sri Lanka, Peru and Mexico. The Reserve Bank of Australia’s quarterly Monetary Policy Statement will be published, and the Bank of Japan’s releases minutes from its September meeting and a summary of its October meeting. Chiefs of the Swiss National Bank (Jordan), Bank of Japan (Kuroda) and Bank of Canada (Poloz) speak publicly. So do Funo of the BOJ and Quarles and Dudley of the Fed.

U.S. and Canada Returned to Standard Time: Clocks in these countries were turned back an hour today. This restores the normal time differentials with Europe (5 hours between NY and London and 6 hours between NY and Frankfurt/Paris/Brussels). The time difference between Tokyo and NY widens to 14 hours from 13.

Holidays and Events: U.S. off-year election day on Tuesday, feature municipal races and state governor races in Virginia andĀ  New Jersey. U.S. Veterans Day observed on Friday. U.S. President Trump’s first official visit to Asia finds him in Japan today and Monday, South Korea on Tuesday, China on Wednesday-Thursday, and Vietnam on Friday to attend a leaders’ meeting of APEC (Asia-Pacific Economic Cooperation). On November 12-13, he’ll be in The Philippines for ASEAN’s 50th commemorative anniversary.

Purchasing Managers Survey Releases: Non-oil PMIs of the U.A.E., Saudi Arabia and Egypt. Service-sector PMIs for Japan, Euroland, Italy, Germany, France and Brazil. Construction PMI’s for Germany and Australia. Retail PMIs for the euro area, Germany, France and Italy.

U.S. Economic Statistical Releases: The JOLTS index, the IBD/TIPP Optimism index, the U. Michigan/Reuters consumer sentiment index and weekly jobless insurance claims, consumer comfort, chain store sales, mortgage applications, and energy inventories.

Japan: The current account, machinery orders, machine tool orders, money and bank lending growth, real cash earnings, international reserves, tertiary index, economy watchers index and index of leading economic indicators.

Chinese Statistics: Consumer prices, producer prices, trade balance, money and lending growth, current account, international reserves, and foreign direct investment.

Other Selected Asian Statistics: Indonesian and Hong Kong GDP. IndonesianĀ  and Filipino consumer prices. Singaporean and Indonesian retail sales. Malaysian and Indian industrial production. Indonesian current account, Filipino trade, and Malaysian unemployment.

Euroland: Retail sales, Sentix measure of investor sentiment, and updated EU Commission economic forecasts.

Members of the Euro Area: German factory orders, industrial production, current account, trade balance, and index of leading economic indicators. French current account, industrial output and business sentiment. Spanish, Finnish,Greek and Italian industrial production. Finnish, Cypriot, Greek, Portuguese, and Austrian trade figures. Cypriot, Dutch and Greek CPI. Austrian wholesale prices.

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

Nordic Europe: Danish, Norwegian and Swedish industrial production. Danish and Norwegian consumer prices. Norwegian PPI and Danish current account.

Eastern Europe: Retail sales and consumer prices for Czech Republic, Romania and Hungary. Hungarian and Czech industrial production.

Australia, South Africa and Turkey: Australian home loans. South African factory output, business sentiment and index of leading economic indicators. Turkish retail sales and industrial production.

Canada, Mexico and Brazil: Canadian, Mexican and Brazilian consumer prices. Canadian housing starts and building permits. Mexican industrial production, consumer confidence and producer prices.

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



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