Next Week’s Menu: June 5 – 11, 2021

June 5, 2021

Central Banks: Monetary policy meetings are scheduled for the coming week at the European Central Bank and in Russia, Serbia, Peru, Poland and Canada. ECB President Lagarde, Bank of Canada Governor Macklem, Bank of England MPC member Haldane, and Reserve Bank of Australia Assistant Governor Kent are a few of the central bankers who will be speaking publicly.

Holidays and Special Events: New Zealanders observe Queen’s Birthday on Monday, and there is also a bank holiday that day in India. Mexican legislative and gubernatorial elections are scheduled June 6th. The week’s main special event will be a G7 leaders summit at Carbis Bay in Cornwall, U.K. that begins Friday and runs through June 13. The G7 nations are the U.K., U.S., Germany, France, Italy, Japan, and Canada. Guests from South Africa, South Korea, India, and Australia and representation from the European Union have been invited as guests. Annual in-person summits were inaugurated in 1975 but skipped in 2020 because of the pandemic.

Scheduled U.S. Data Releases: Consumer prices, the trade deficit, small business sentiment, the employment trends index, the U. Michigan index of consumer sentiment, and  the JOLTs index of employment openings, hires, and separations. Also weekly jobless insurance claims, mortgage applications, energy inventories, consumer comfort and chain store sales.

Japanese and Chinese Releases: Japanese quarterly GDP and monthly  current account, international reserves, PPI, labor cash earnings, money growth, bank lending, machine tool orders, economy watchers index, large firm business sentiment, and index of leading economic indicators. Chinese CPI, PPI, trade balance, reserves, fixed asset investment, unemployment, industrial production, retail sales, money growth, and bank lending.

Other Selected Asian Data: Filipino and Taiwanese trade balances. South Korean GDP, current account, import prices and index of leading economic indicators. Malaysian and South Korean unemployment. Indian, Filipino, and Malaysian industrial production. Taiwan’s CPI and PPI.

Euroland Releases: quarterly GDP and employment. Monthly ZEW expectations and Sentix gauge of investor sentiment.

Members of the Euro Area: German industrial orders, industrial production, wholesale prices, current account, trade surplus, index of leading economic indicators, and ZEW expectations. Spanish, French, Italian, Irish, Belgian, Greek, and Finnish industrial production. Austrian, Cypriot, French, and Portuguese trade balances. French and Finnish current accounts. French, Greek, Irish, Spanish, and Dutch consumer prices. Spanish consumer confidence and index of leading economic indicators. Italian retail sales, Austrian WPI, and Dutch factory output.

U.K. and Switzerland: British monthly GDP, trade balance, industrial production, same-store sales, construction output, RICs house price balance, and Halifax house price index. Swiss CPI and unemployment.

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

Nordic Europe: Norwegian, Danish and Swedish consumer prices. Norwegian and Danish producer prices and industrial production. Danish current account.

Australia and New Zealand: Australian Westpac consumer confidence, AIG service-sector purchasing managers survey, new home sales, and NAB-compiled business confidence and business conditions. New Zealand business confidence.

South Africa and Turkey: South African and Turkish current accounts. South African GDP, factory output, and business confidence. Turkish retail sales, unemployment, and industrial production.

Canada, Mexico and Brazil: Canadian trade balance and capacity usage. Mexican and Brazilian CPI. Mexican industrial production and Brazilian retail sales.

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



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