Next Week’s Menu: March 12 – 18, 2022

March 11, 2022

Central Banks: The Federal Reserve and Bank of England are expected to authorize interest rate hike at their monetary policy reviews next week, while no changes are expected from the Bank of Japan Board, which also meets next week. BOJ Governor Kuroda has made clear that higher energy prices caused by Russia’s invasion of Ukraine will not impact its likely course. The FOMC will update its forecasts, and Chairman Powell will hold a press conference afterward. Some other central banks with scheduled policy review include those in Turkey, Russia, Taiwan, Indonesia and Brazil.

Events: The EU Council of political leaders will hold meetings to coordinate policy responses to Russia’s invasion of Ukraine. The U.S. moves to daylight savings time on March 13. That will shorten the time differential between New York and London temporarily from five hours to four hours. Europe goes on DST on March 27, and Tokyo doesn’t observe that custom.

Scheduled U.S. Data Releases: Retail sales, producer prices, import prices, industrial production, capacity usage, the Empire State and Philly Fed manufacturing surveys, housing starts, building permits, existing home sales, Treasury-compiled international capital flows, and the index of leading economic indicators. Weekly jobless insurance claims, mortgage applications, energy inventories, and chain store sales.

Japanese and Chinese Data: Japanese trade balance, revised industrial production, capacity usage, consumer prices and machinery orders. Chinese retail sales, industrial production, unemployment, property prices, foreigh direct investment, and fixed asset investment.

Other Selected Asian Releases: Indian, Indonesian, Singaporean, and Malaysian trade balances. South Korea, Filipino, and Hong Kong unemployment. Indian consumer prices and wholesale prices. Hong Kong industrial production and South Korean import prices.

Euroland Data: Consumer  prices, trade balance, construction output, car sales, industrial production, labor costs, and ZEW index of investor expectations.

Members of the Euro Area: French, Spanish, Italian, Irish, Dutch and Belgian trade balances. Italian, Austrian, and Finnish consumer prices. French and Portuguese current accounts. Greek unemployment and house prices. Portuguese PPI, Irish construction purchasing managers index, Spanish retail sales and German ZEW indices of investor expectations and current perceptions.

U.K. and Switzerland Data: Britains index of leading economic indicators. Swiss PPI, import prices, trade balance, index of investor expectations, and updated government macroeconomic forecasts.

Nordic Europe: Swedish unemployment and CPI. Norwegian trade and Danish PPI.

Eastern Europe: Romanian and Polish CPI and industrial production. Czech and Polish current accounts and producer prices. Russian and Polish trade balances. Czech retail sales.

Australia, New Zealand, South Africa and Brazil: Australian labor statistics, new home sales and index of leading economic indicators. New Zealand services purchasing managers index and quarterly GDP and current account. South African business confidence, consumer sentiment, and retail sales. Brazilian unemployment.

Canadian Releases: Housing starts, consumer prices, house price,s and factory sales, orders and inventories.

Copyright 2022, Larry Greenberg. All rights reserved. No secondary distribution without express permission. 

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