Next Week’s Menu: December 11 – 17, 2021

December 10, 2021

Central Banks: A cornucopia of monetary policy meetings scheduled next week includes the Federal Reserve, the Bank of Japan, European Central Bank, Bank of England, and monetary authorities in Switzerland, Russia, Turkey, Norway, Hungary, Indonesia, Taiwan, the Philippines, Mexico, Chile and Colombia. Powell, Lagarde, Bailey, Kuroda, Macklem and Lowe are some of the central bank chiefs speaking publicly next week. Fed and ECB forecasts will be updated, and the Bank of Japan releases findings of its quarterly Tankan survey of corporate conditions and expectations.

Events and Holidays: There is an EU Council meeting on Thursday and Friday. The coming week will the final one of 2021 not to be significantly influenced by yearend bookkeeping and other considerations.

Scheduled U.S. Data Releases: Producer prices, import prices, industrial production, capacity utilization, retail sales, housing starts, building permits, the NAHB housing market index, Treasury-compiled capital flows, small business sentiment, preliminary findings from the IHS-compiled U.S. PMI surveys, and the Philly Fed, KC Fed and Empire State manufacturing indices. Also weekly jobless insurance claims, mortgage applications, energy inventories and chain store sales.

Euroland Releases: Quarterly labor costs. Monthly car sales, trade balance, preliminary purchasing managers survey, and index of leading economic indicators.

Members of the Euro Area: German and French preliminary PMIs. German WPI, index of leading economic indicators, IFO business climate index and PPI. French, Portuguese, Spanish, Austrian, Finnish, and Portuguese consumer prices. Spanish, Irish and Belgian trade balances. Greek and Dutch unemployment. French business confidence and index of leading economic indicators. Irish construction PMI, consumer confidence, industrial production, current account, and trade balance. Finnish GDP and current account.

U.K. and Switzerland: British labor statistics, CPI, PPI, retail sales, preliminary PMIs, and index of leading economic indicators. Swiss producer and import prices.

Eastern Europe: Russian GDP and manufacturing PMI. Polish and Romanian industrial production. Polish and Czech PPI current accounts. Polish CPI and Czech PPI.

Nordic Europe: Swedish and Norwegian unemployment. Swedish CPI and Norway’s trade balance.

Japanese and Chinese Releases: Japanese revised industrial production, capacity use, tertiary index, consumer prices, machinery orders and preliminary purchasing managers surveys. Chinese foreign direct investment, housing prices, fixed asset investment, unemployment, industrial production, and retail sales.

Selected Other Asian Releases: Hong Kong, Singaporean, and South Korean unemployment. Indian, Indonesian and Singaporean trade balances. Indian WPI and CPI. Indonesian retail sales, Hong Kong industrial production and Filipino retail prices.

Australia and New Zealand: Australian labor market statistics, NAB indices of business conditions and confidence, preliminary PMI results and new home sales. New Zealand quarterly current account and GDP and monthly food prices, business confidence, and food prices.

South Africa and Turkey: South African CPI, PPI, leading index, building permits and consumer confidence. Turkish retail sales and industrial production.

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

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



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