Next Week

December 21, 2018

Holiday Closures: Many countries will be closed either all Monday (Christmas Eve) or for part of the that day. Japan also will be shut Monday in observance of the Emperor’s Birthday even though it actually falls on Sunday. Most markets but notably not Japan are closed Tuesday for Christmas.  On Wednesday (Boxing Day and St. Stephen’s Day in Italy) markets are closed in the U.K., Switzerland, Spain, France, Australia, New Zealand, Canada, Hong Kong, Norway, and Germany. South Africa will be observing its Day of Goodwill on Wednesday.

Central Banks: Sri Lanka has a scheduled monetary policy review. The Bank of Japan publishes minutes from its late October Board meeting and a summary of its Board meeting held earlier this month. Fed Chairman Powell presents his rescheduled testimony before the congressional joint economic committee, and Bank of Japan Governor Kuroda addresses Japan’s business federation.

Scheduled U.S. Economic Data Releases in the Final Week of 2018: New home sales, pending home sales, the FHFA house price index, the Case Shiller house price index, consumer confidence, the preliminary flash trade balance estimate, the Chicago purchasing managers index, the Richmond Fed manufacturing index and weekly jobless insurance claims, mortgage applications, consumer comfort, chain store sales, and energy inventories.

Japanese Data: Corporate service prices, unemployment and jobs, retail sales, industrial production, motor vehicle output, Tokyo consumer prices, and the index of leading economic indicators.

Selected Other Asian Releases: Singapore’s CPI, PPI and industrial production. Chinese corporate profits and current account. South Korean business sentiment, retail sales, industrial production and consumer sentiment. Filipino producer prices. Hong Kong and Thai trade balances.

Members of the Euro Area: German CPI and retail sales. Spain’s CPI, PPI, GDP and retail sales. Dutch GDP and current account. Austrian PPI and manufacturing purchasing managers index. Italian unemployment, Greek PPI, Cypriot industrial production, and Finnish consumer confidence.

U.K. and Switzerland: British Nationwide house price index and BBA-reported mortgage approvals. Swiss ZEW expectations index of investor sentiment and the index of leading economic indicators.

Nordic Europe: Sweden’s trade balance and Norwegian retail sales.

Eastern Europe: Czech business sentiment and consumer confidence.

Australia and South Africa: Australian private credit and South Africa’s trade balance.

Mexico and Brazil: Mexican and Brazilian unemployment. Mexican trade balance.

Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.



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