Next Week’s Menu: February 4 – 10, 2023

February 3, 2023

Central Banks: Many central banks will be reviewing interest rates this week, including those in Australia, Sweden, Iceland, Poland, Serbia, Peru, Romania, Mexico, Russia and India. The Reserve Bank of Australia’s quarterly Monetary Policy Statement will be published. Governor Macklem of the Bank of Canada, New York Federal Reserve District President Williams, and Bank of England chief economist and MPC member Pill speak publicly during the week.

Special Events: U.S. President Biden’s annual State of the Union address before a joint session of Congress will be delivered Tuesday night. European Union leaders hold a summit meeting starting Thursday.

Purchasing Manager Survey Releases: Non-oil PMIs for Egypt and Saudi Arabia; construction surveys for the euro area, U.K., France, Italy, and Germany; and AIG’s Australian services sector survey.

Scheduled U.S. Data Releases: Small business sentiment, the IBD/TIPP Optimism investor survey, the U. Michigan index of consumer confidence and the trade deficit. Weekly jobless insurance claims, energy inventories, chain store sales and mortgage applications.

Japanese and Chinese Releases: Japanese producer prices, household spending, international reserves, growth in money and bank lending, average cash earnings, the economy watchers index, machinery tool orders, the index of leading economic indicators, and the current account. Chinese consumer prices, producer prices, foreign direct investment, the trade balance, reserves, and money and bank lending growth.

Other Selected Asian Releases: Indonesian and Malaysian GDP. South Korean and Malaysian current accounts. Indonesian retail sales and consumer confidence. Filipino CPI and Indian industrial production.

Euroland Releases: Retail sales, Sentix index of investor confidence, and updated macroeconomic forecasts.

Members of the Euro Area: German, Dutch and Portuguese consumer prices. German current account, industrial production, and factory orders. Italian, Spanish, Austrian, Irish, and Finnish industrial production. French, Greek and Austrian trade balances. French and Finnish current accounts. Austrian wholesale prices, French retail sales and Spain’s index of leading economic indicators.

U.K. and Switzerland: British GDP, industrial production, trade balance, same-store sales, Halifax house price index, and Royal Institute of Chartered Surveyors’ house price balance index. Swiss unemployment.

Eastern Europe: Russian and Hungarian retail sales. Russian GDP, unemployment, and business confidence. Czech CPI, industrial production, and trade balance.

Nordic Europe: Norwegian and Danish industrial production and consumer prices. Norwegian producer prices.

Australia, South Africa and Turkey: Australian and South African business confidence. Turkish and South African industrial production. Turkish unemployment and Australian trade balance.

Canada, Mexico and Brazil: Canadian labor statistics, IVEY-PMI and trade balance. Mexican and Brazilian consumer prices. Brazilian retail sales and business confidence. Mexican industrial production.

Copyright 2023, Larry Greenberg. All rights reserved. No secondary distribution without expressed permission.

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