Next Week’s Menu: March 13 – 19, 2021

March 12, 2021

Central Banks: Monetary policies will be reviewed next week at the Federal Reserve and in Japan, the U.K., Brazil, Turkey, Indonesia, Norway, Russia and Taiwan. The FOMC will be updating its forecasts at next week’s meeting; updates are done quarterly. The Reserve Bank of Australia and Bank of Japan are scheduled to publish minutes of their last policy meetings. Some of the central bankers speaking in public next week are Fed Chairman Powell, Bank of England Governor Bailey, Bank of Japan Governor Bailey, Bank of England chief economist Haldane, Reserve Bank of Australia Governor Lowe and RBA Assistant Governor Kent.

Holidays and Special Events: St. Patrick’s Day falls on Wednesday, and Japan observes the Vernal Equinox holiday on Friday. A meeting of EU finance ministers is scheduled Tuesday, and the United States and Canada will be moving to daylight savings time on Sunday, March 14, which will shorten the time gap between New York and London to four hours until Europe goes on daylight savings. The time gap between the U.S. and Tokyo declines by one hour to 13 hours.

Scheduled U.S. Economic Statistical Releases: Quarterly current account. Monthly retail sales, industrial production, capacity usage, housing starts and permits, Empire State and Philly Fed regional manufacturing surveys, import prices, National Association of Home Builders housing index, Treasury-compiled international capital flows, and index of leading economic indicators. Weekly jobless insurance claims, consumer comfort, chain store sales, mortgage applications, and energy inventories.

Japanese and Chinese Data Releases: Japanese machinery orders, tertiary index, customs trade balance, revised industrial production, consumer prices and capacity utilization. Chinese Retail sales, industrial production, fixed asset investment, home prices, and unemployment.

Other Selected Asian Releases: Indian, Indonesian, South Korean, and Singaporean trade balances. South Korean, Singaporean, and Hong Kong unemployment. Indian wholesale prices.

Euroland: Quarterly labor costs. Monthly consumer prices, construction output, car sales, trade balance, and ZEW Institute of investor sentiment.

Members of the Euro Area: German PPI, WPI and ZEW expectations index. French, Italian, Finnish, and Austrian consumer prices. Italian, Spanish, Irish, and Belgian trade balances. Italian, Portuguese and Greek current accounts. Dutch and Greek unemployment. Italian industrial orders, Finnish GDP, and Portuguese producer prices.

U.K. and Switzerland: British Car sales, consumer confidence, public sector net borrowing, Rightmove house price index, and index of leading economic indicators. Swiss trade balance, producer prices, and import prices.

Nordic Europe: Swedish CPI and current account. Danish producer prices.

Eastern Europe: Czech and Swedish producer prices. Czech and Polish retail sales and current accounts. Russian and Polish industrial production. Polish consumer prices.

Australia, New Zealand and South Africa: Australian labor market statistics, home prices, retail sales and index of leading economic indicators. New Zealand GDP, current account, home prices, consumer confidence and service sector purchasing managers survey. South African retail sales and consumer confidence.

Canadian Releases: Monthly survey of manufacturing sales, orders and inventories. Consumer prices, retail sales, house prices and housing starts.

Mexico and Brazil: Indices of leading economic indicators.

Copyright 2021, Larry Greenberg. All rights reserved. No secondary distribution without express permission.



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