Next Week

April 26, 2019

Central Banks: Monetary policy meetings are scheduled next week at the Federal Reserve, Bank of England and Czech National Bank. Fed Chairman Powell holds a press conference on Wednesday following the FOMC announcement, and Vice Chairman Clarida, Williams, Evans, Bullard, Mester, Daly and Kaplan also will be speaking publicly next week. So will Bank of England Governor Carney, ECB Vice-President Luis de Guindos, and and Bank of England’s Ramsden. The Bank of England publishes its quarterly Inflation Report.

Holidays and Elections: Japan embarks on an unprecedented ten-day holiday on April 27, since the Accession of Naruhito as Emperor on Wednesday falls during the Golden Week period, which includes Showa Day on Monday and Constitution Day on Friday. No Japanese data will be released during this period. May Day, or Labor Day, holidays will be observed in China Wednesday through Friday and in Germany, Italy, Indonesia, Brazil, Spain, Norway, Switzerland, Singapore, South Korea, Hong Kong, Mexico, France and South Africa on Wednesday. Spain and India hold general elections at the start of the week.

Purchasing Manager Surveys: Manufacturing surveys will be reported for Australia, China, Indonesia, the U.S., Canada, Japan, U.K., the Netherlands, Ireland, Russia, Greece, Denmark, Norway, Sweden, Switzerland, Mexico, Brazil, Euroland, Germany, France, Italy, the Czech Republic, Spain, Turkey, Poland, India, Vietnam, Thailand, Taiwan, South Korea, the Philippines, and Malaysia. Service sector PMIs due next week include the United States, Australia, Great Britain, Italy, Ireland, and China, and a U.K. construction PMI is due, too.

Scheduled U.S. Economic Statistical Releases: Quarterly productivity and unit labor costs. Monthly employment, unemployment, average hourly earnings, personal spending and income, PCE price deflator, pending home sales, employment cost index, consumer confidence, construction spending, ADP estimate of private sector employment, Case Shiller house price index, Dallas Fed manufacturing index, factory orders, New York regional PMI (aka NAPM index), and advance estimate of the trade balance. Weekly jobless insurance claims, chain store sales, energy inventories, mortgage applications, and consumer comfort.

Euroland Data: quarterly GDP. Monthly money and credit growth, economic sentiment index, producer prices, unemployment, CPI, and updated EU forecasts.

Members of the Euro Area: German CPI, import prices, retail sales, consumer confidence and unemployment. French, Italian, Spanish, Belgian and Austrian GDP. French, Italian, and Spanish GDP. Spanish, Irish, and Portuguese retail sales. Italian unemployment and PPI. Spanish business sentiment and current account. Finnish trade balance and Portuguese industrial production.

U.K. and Switzerland: British consumer confidence, shop prices, M4 money growth, and Nationwide house price index. Swiss retail sales, CPI, consumer confidence and index of leading economic indicators.

Nordic Europe: Norwegian, Danish and Icelandic unemployment. Norwegian retail sales and Swedish trade balance. Icelandic CPI and PPI.

Eastern Europe: Hungarian and Romanian producer prices.

Selected Asian Data: South Korean, Malaysian, and Hong Kong trade balances. Thai and Indonesian consumer prices. South Korean and Hong Kong retail sales. Thai and Malaysian producer prices. Hong Kong GDP.

Australia and New Zealand: Australian and New Zealand building permits. Australian new home sales and money and private credit growth. New Zealand business sentiment and quarterly employment and unemployment.

South Africa and Turkey: South African M3 money and private credit growth. Turkey’s CPI and PPI. Turkish and South African trade balances.

Canada, Mexico, and Brazil: Canadian monthly GDP and producer prices. Mexican quarterly GDP. Brazilian industrial production, unemployment and trade balance.

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



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