Next Week’s Menu: December 7-13

December 6, 2019

Central Banks: The Federal Reserve and European Central Bank head a crowded field of monetary policy reviews next week that also includes central banks in Brazil, Switzerland, Russia, Ukraine, Turkey, Peru, Serbia and the Philippines. The Fed’s Open Market Committee and ECB Governing Council will be updating their macroeconomic forecasts, and Fed Chairman Powell and ECB President Lagarde have scheduled press conferences afterward. Her’s will be the first in an 8-year term. The Bank of Japan’s quarterly Tankan survey findings of corporate conditions and expectations will be published.Bank of Canada Governor Poloz, BOJ Governor Kuroda, and Reserve Bank of Australia Governor Lowe also have speaking engagements.

Special Events: British parliamentary election, with the fate of Brexit at stake, on Thursday, December 12. Political leaders of the European Union meet Thursday-Friday.

Scheduled U.S. Economic Statistical Releases: Quarterly productivity and unit labor costs. Monthly consumer prices, import prices, producer prices, retail sales, real average wages, small business sentiment, National Home Builders index, and federal budget imbalance. Weekly jobless insurance claims, mortgage applications, consumer comfort, chain store sales, and energy inventories.

Japanese and Chinese Data Releases: Japanese quarterly GDP and  business sentiment. Monthly current account, PPI, machinery orders, machine tool orders, bankruptcies, revised industrial production, capacity utilization, and money growth. Chinese money growth, bank lending, producer prices, consumer prices, foreign direct investment, reserves, and trade balance.

Selected Other Asian Indicators: Malaysian, Indian, and Hong Kong industrial production. Indian CPI and PPI. Malaysian unemployment, Singaporean retail sales, and Filipino trade balance.

Euroland: Industrial production and labor costs. Sentix and ZEW indices of investor sentiment.

Members of the Euro Area: German current account, trade balance, WPI, CPI, ZEW index of investor sentiment, and index of leading economic indicators. French, Spanish, Greek, Irish, Portuguese and Finnish consumer prices. French, Italian, Greek, and Finnish industrial production. Cypriot, Dutch, Finnish, Portuguese, and Austrian trade balances. French business sentiment, Cypriot GDP, Greek import prices, Dutch retail sales, Finnish current account, Italian factory orders, and Ireland’s construction purchasing managers index.

U.K. and Switzerland: British industrial production, construction output, monthly GDP, trade balance, RICs house price index, and CBI survey of distributive trades. Swiss producer and  import prices. SECO and KOF updated forecasts of Swiss key economic indicators.

Eastern Europe: Czech and Romanian industrial production. Hungarian, Polish, and Romanian consumer prices. Hungarian, Czech, and Romanian trade balances. Czech unemployment and current account.

Nordic Europe: Norwegian and Swedish consumer prices. Norwegian GDP and PPI. Denmark’s current account.

Australia and New Zealand: Australian home loans, housing prices, consumer confidence and business confidence and conditions. New Zealand manufacturing purchasing managers index and food prices.

South Africa and Turkey: South African and Turkish industrial production. South African retail sales, wholesale turnover, CPI and PPI. Turkey’s current account.

Canada, Mexico and Brazil: Canadian quarterly capacity usage and monthly housing starts, building permits and home prices. Mexican CPI, industrial production, and trade balance. Brazilian retail sales.

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



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