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Market Wire Update: The Week Ahead

Nov 8 09 11:56 EST (LFB Forex)
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Market Wire Update:

The Week Ahead

In the regular series of weekly review articles, Larry Greenberg, of CurrencyThoughts gets into perspective the potential to come economically. The week begins with the post G-20 meeting reactions from finance ministers in Scotland, gets interrupted on Wednesday with holidays in the United States (Veterans Day) and Canada (Remembrance Day) and winds up on Friday the 13th. 

Only two central bank meetings of note are scheduled — in Korea and Chile — but the Bank of England’s quarterly Inflation Report and the ECB’s monthly Bulletin will draw market interest, too.  Many Fed and ECB officials have planned speeches: Tarullo, Lockhart, Rosengren, Yellen, Fisher and Evans among the former and Trichet, Tumpel-Gugerell, Weber and Stark from the latter.

Preliminary third-quarter GDP growth figures will be released by Germany, France, Italy, Spain, the Netherlands, and the euro area bloc.  Germany, France, Italy, the Netherlands, and Euroland also report industrial production. German trade statistics, final consumer prices and ZEW index of investor sentiment are scheduled too, as are Spanish and euro area consumer prices.

Britain’s data calendar includes a couple of house price measures, same-store retail sales, labor statistics, and trade figures.  Swedish industrial orders, industrial production, and consumer prices arrive next week, as do Norwegian consumer and producer prices, and Swiss import and producer prices.

This is the week when virtually all Chinese data for the month get released: the CPI and PPI, industrial production and retail sales, trade statistics and fixed asset investment, and money aggregates and bank lending.

Scheduled Japanese data include the current account, corporate goods prices, consumer confidence, the Economy Watchers index, machinery orders, and revised industrial production and capacity utilization.  Other Asian releases of note will be Indian and Malaysian industrial production, Taiwanese trade figures, South Korean unemployment, Hong Kong GDP and Singaporean retail sales.

The U.S. calendar is relatively light, consisting of trade figures, import prices, the monthly federal budget, IBD/TIPP economic optimism, and the U. Michigan consumer sentiment index.  Traders will also be monitoring weekly data such as jobless claims, energy inventories, consumer confidence, chain store sales, and mortgage applications.

Canada releases housing starts, house prices, trade figures and motor vehicle sales.  Among the economic data releases in Latin America will be Mexican consumer prices, trades and industrial production, Argentine consumer and producer prices, and Brazilian retail sales.

In Eastern Europe, the Czech Republic and Hungary announce quarterly GDP.  Poland, Romania and Hungary release consumer prices.  Romania, Poland and the Czech Republic report current account figures.  Czech retail sales are scheduled, too.

Australian labor statistics head up a slate for that economy that also includes business conditions and confidence, housing finance, and job ads.  New Zealand house prices and retail sales get released next week, and so do Turkish industrial production and current account figures and South African industrial output.

CurrencyThoughts is a stand-alone independent advisory service that integrates all global financial markets and the macroeconomic trends that make them tick.

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