Next Week

January 25, 2019

Central Banks: An FOMC policy statement will be published Wednesday but without an ensuing press conference. Central banks in Chile, Colombia, Hungary and Ukraine also have scheduled monetary policy reviews next week. Minutes from the Bank of Japan’s December 19-20 Board meeting and a summary of this past week’s ensuing Board meeting will be released. BoJ Deputy Governor Amamiya and N.Y. Fed President Williams will speak publicly.

Holidays and Special events: Australians observe Australia Day on Monday. A parliamentary vote on British Prime Minister’s modified Brexit plan is scheduled for Tuesday. Talks will continue in search of breaking the stalemates behind the U.S. federal shutdown and U.S.-Sino trade tensions. President Trump’s state of the union address, originally set for Tuesday, has been delayed until after the shutdown dispute gets resolved.

Purchasing Manager Surveys: Manufacturing PMI reports covering January will be published for over 30 economies. The Chinese government will release both its manufacturing and non-manufacturing purchasing manager indices.

Scheduled U.S. Data: There is already a large backlog of releases that have been delayed. Releases originally scheduled for next week include quarterly GDP and the employee cost index. Also monthly non-farm payroll employment, unemployment, hourly wage earnings, ADP estimate of private jobs growth, the Conference Board’s consumer confidence index, the U. Michigan/Reuters consumer sentiment index, construction spending, pending home sales, the Case-Shiller house price index, personal income, personal spending, the PCE price deflator, the N.Y. regional PMI (NAPM index), Chicago’s regional PMI, the Chicago Fed National Activity Index, The Dallas Fed manufacturing index, the advance trade balance, Treasury-compiled capital flows (TIC data), and motor vehicle sales. Weekly releases will include jobless insurance claims, consumer comfort, chain store sales, mortgage applications, and energy inventories.

Euroland Releases: GDP, money and lending growth, economic sentiment, consumer confidence and consumer prices.

Members of the Euro Area: German retail sales, consumer confidence, import prices, and consumer prices. French, Italian, and Spanish GDP. French, Finnish and Italian consumer confidence. French and Spanish consumer prices. Spanish and Italian business sentiment. Spanish retail sales and unemployment. Italian and Greek producer prices. Portuguese and Cypriot industrial production. Finland’s trade balance, French consumer spending, and Spanish unemployment.

U.K. and Switzerland: British and Swiss consumer confidence. British shop prices, money growth, and Nationwide house price index. Swiss trade balance, ZEW expectations index, index of leading economic indicators, and retail sales.

Nordic Europe: Danish retail sales and Icelandic consumer prices. Norwegian retail sales and unemployment.

Eastern Europe: Hungary’s trade balance and PPI.

Japanese and Chinese Data: Japanese retail sales, corporate service prices, consumer confidence, industrial production, motor vehicle sales and output, housing starts, construction orders and unemployment.

Selected Other Asian Releases: South Korean and Indonesian consumer prices. Hong Kong, Singapore, and South Korean trade balances. Singapore unemployment and PPI. South Korean business sentiment, industrial production, and retail sales.

Australia, New Zealand, and South Africa: Australian and South African private credit expansion. New Zealand and South African trade balances. Australian business conditions and confidence, import and export prices, and quarterly CPI and PPI. New Zealand consumer confidence and South African money growth.

Canada: Monthly GDP, producer prices, and raw material prices.

Copyright 2019, Larry Greenberg. All rights reserved. No secondary distribution without express permission.



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