Next Week’s Menu (September 14-20, 2019)

September 13, 2019

Central Banks: Monetary policy reviews take place next week in the United States, Japan, U.K., Switzerland, Taiwan, Indonesia, Thailand, Brazil, and Norway. Minutes of the last Australian central bank policy meeting will be published. The FOMC is likely to cut the fed funds rate target and will update macroeconomic and interest rate projections, and Chairman Powell will hold a press conference on Wednesday. Lane and Coeure of the ECB will also speak publicly.

Holidays and Special Anniversaries: Japan’s Respect for the Aged Day and Mexican Independence Day will be observed Monday. With Britain still trying to find acceptable terms for leaving the European Union, Monday will mark the 27th anniversary of Black Friday, when the pound withdrew from the European Exchange Rate Mechanism, thus ending any chance of that country adopting the euro as its currency. In June 1972, Britain also had been forced by market forces to end the pound’s participation in the European Community’s “Snake in the Tunnel.”

Scheduled U.S. Economic Statistical Releases: Quarterly current account. Monthly industrial production, capacity utilization, housing starts, building permits, existing home sales, National Association of Homebuilders housing index, Empire State and Philly Fed manufacturing surveys, index of leading economic indicators, and Treasury-compiled capital flow data (TIC). Weekly jobless insurance claims, consumer comfort, chain store sales, mortgage applications and energy inventories.

Japanese and Chinese Data: Japanese consumer prices, trade balance, all industry index, department store sales, and supermarket sales. Chinese industrial production, retail sales, fixed asset investment, unemployment and housing prices.

Selected Other Asian Releases: Indonesian and Singaporean trade figures. Indian wholesale prices and index of leading economic indicators. Hong Kong consumer prices.

Euroland: Current account, consumer sentiment, CPI, construction output, index of leading economic indicators, and ZEW index of investor sentiment.

Members of the Euro Area: German ZEW index and producer prices. Italian, Austrian and Cypriot consumer prices. Italian, Belgian, and Irish trade figures. Dutch and Belgian consumer confidence. Portuguese and Irish PPI. Finnish and Greek current accounts. Italian industrial orders and France’s index of leading economic indicators.

U.K. and Switzerland: British retail sales, CPI, PPI, RPI, home prices, car sales, industrial trends survey and public sector borrowing requirement. Swiss current account and trade surplus.

Nordic Europe: Danish PPI and consumer confidence. Icelandic CPI, Swedish unemployment and Norway’s trade balance.

Eastern Europe: Polish CPI, PPI, wage inflation, retail sales and industrial production. Hungary’s current account and Czech producer prices.

Australia and New Zealand: Australian labor statistics, home prices, and index of leading economic indicators. New Zealand GDP, current account, consumer confidence and monthly service sector purchasing managers index.

South Africa and Turkey: South African retail sales, wholesale turnover, and consumer prices. Turkish consumer confidence and unemployment.

Canada, Brazil and Mexico: Canadian retail sales and CPI. Mexican and Brazilian indices of leading economic indicators.

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



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