Next Week’s Menu: January 18 – 24, 2020

January 17, 2020

Central Banks: Monetary policies to be reviewed in Indonesia, Japan, Malaysia, Canada, Norway, and at the European Central Bank. People’s Bank of China will decide its loan prime rate for the next month. Bank of Japan publishes minutes from its December meeting and a new quarterly Outlook for Economic Growth and Prices, and Bank of Canada releases its quarterly Monetary Policy Report. ECB Governing Council will begin a lengthy and extensive review of its policy approach. The ECB will also publish findings from its Survey of Forecasters. BOJ Governor Kuroda, Bank of Canada Governor Poloz, and ECB President Lagarde speak publicly.

Holidays and Events: U.S. markets will be closed Monday for Martin Luther King Junior’s birthday, and China and South Korea are some of the markets that will begin Chinese New Year observances on Friday. The World Economic Forum runs from Monday evening through Friday with a theme of  Stakeholders for a Cohesive and Sustainable World. There’s a meeting of the Eurogroup scheduled Monday and Ecofin meeting on Tuesday. The impeachment trial of U.S. President Trump opens.

Scheduled U.S. Economic Data Releases: Existing home sales, FHFA house price index, Chicago Fed National Activity index, K.C. Fed manufacturing index, U. Michigan index of consumer sentiment, and Conference Board index of leading economic indicators. Also, weekly jobless insurance claims, mortgage applications, chain store sales, energy inventories, and consumer comfort.

Japanese Data: Revised industrial production, capacity utilization, consumer prices, customs trade balance, manufacturing purchasing managers survey, machine tool orders, all industry index, department store sales, supermarket sales, and index of leading economic indicators.

Selected Other Asian Releases: Malaysian, Hong Kong, and Singapore consumer prices. South Korean and Singaporean producer prices. Hong Kong unemployment, Singapore industrial production, South Korean GDP, and India’s index of leading economic indicators.

Euroland Statistics: ZEW survey of investor perceptions and expectations. Preliminary consumer confidence and purchasing manager survey results.

Members of the Euro Area: German and French preliminary PMIs. German import prices, IFO business climate index, PPI, and ZEW Institute index of investor sentiment. Spanish, Irish, and Finnish producer prices. French business sentiment and index of leading economic indicators. Italian factory orders, Greek current account, Dutch consumer confidence, Belgian business sentiment and Austrian industrial production.

U.K. and Switzerland: British labor market statistics, pubic sector borrowing, Rightmove house price index, monthly GDP, mortgage approvals, purchasing manager surveys, and CBI surveys of industrial trends and distributive trades. Swiss money growth and trade surplus.

Eastern Europe: Polish industrial production, PPI, retail sales and unemployment. Czech consumer confidence and business sentiment.

Nordic Europe: Norwegian fourth-quarter business sentiment. Swedish and Norwegian unemployment. Icelandic producer prices and wage costs. Danish consumer confidence.

Australia and New Zealand: Australian jobs and unemployment, Westpac consumer confidence gauge, index of leading economic indicators and CBA-compiled purchasing manager indices. New Zealand’s service sector PMI.

South Africa and Turkey: South African consumer prices and leading economic index. Turkish consumer confidence.

Canada, Mexico, and Brazil: Canadian retail sales, consumer prices, home prices, and survey of manufacturing sales, orders, and inventories. Mexican unemployment and CPI. Brazilian consumer confidence.

Copyright 2020, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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