Next Week’s Menu: July 23 -29, 2022

July 22, 2022

Central Banks: Monetary policies are being reviewed in Hungary and the United States. The FOMC is expected to raise the federal funds rate target by another 75 basis points, and Chairman Powell will hold a press conference afterward. Some central banks that link their currency to the dollar, such as the Hong Kong Monetary Authority, will adjust their interest rates in lockstep with whatever the Fed does. A summary of this week’s Bank of Japan policy review will be published, as well as minutes from the previous meeting.

Scheduled U.S. Data Releases: Second-quarter GDP and employment cost index. Monthly personal income, consumption and PCE price deflator, new home sales, pending home sales, FHFA and Case-Shiller house price indices, durable goods orders, Richmond, Dallas and K.C. Fed manufacturing surveys, consumer confidence, advance trade deficit estimate, Chicago PMI, and Chicago Fed National Activity Index. Weekly jobless insurance claims, mortgage applications, chain store sales, and energy inventories.

Euroland Releases: GDP, economic sentiment, consumer confidence, money and credit growth, and CPI.

Members of the Euro Area: German, Spanish, French, Italian, Belgian, Austrian, and Portuguese GDP. German, Austrian, Belgian, Spanish, French, Italian and Portuguese consumer prices. French, Italian, Spanish, Austrian, Belgian, and Greek producer prices. German IFO-compiled business climate index and business sentiment in Italy, Spain, Belgium, Finland, Greece, Portugal and the Netherlands. French, German, Italian, Finnish, Greek and Portuguese consumer confidence. Spanish, Greek, Irish, and Dutch retail sales. German, Spanish, and Greek unemployment. Spain’s current account, Italian industrial sales, German import prices, and Austrian manufacturing purchasing managers survey.

U.K. and Switzerland: British shop prices, industrial trends index, distributive trades index, Nationwide house price index, mortgage approvals, and M4 money growth. Swiss ZEW expectations index, KOF leaders index, and retail sales.

Eastern Europe: Czech GDP, consumer confidence and business sentiment. Russian industrial production, retail sales and business sentiment. Poland’s CPI and Hungarian producer prices.

Nordic Europe: Swedish, Norwegian, and Danish unemployment and retail sales. Swedish and Danish business confidence. Swedish PPI, CPI, trade balance and consumer confidence.

Japanese and Chinese Data: Japanese unemployment, retail sales, industrial production, housing starts, construction orders, consumer confidence, corporate service prices and index of leading economic indicators. Chinese corporate profits and index of leading economic indicators.

Other Selected Asian Releases: South Korean and Taiwanese GDP. Singaporean, Malaysian, and Filipino PPIs. Taiwanese, South Korean, and and Thai retail sales and industrial production. Thailand’s current account and Hong Kong trade balance. South Korean consumer confidence.

Australia, South Korea, and Turkey: Australian and South African PPI, money growth, and domestic credit expansion. Australian import prices, retail sales, and CPI. Turkish business confidence.

Brazil, Mexico and Canada: Brazilian current account, consumer confidence and PPI. Mexican trade balance and unemployment. Canadian GDP.

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



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