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Here's the Economic Calendar for the week commencing the 16th of August 2010. This week the key economic events start with Japan on Monday releasing its Q2 GDP stats, also on Monday is China with its foreign direct investment figures, and the CB leading index. Throughout the week there will be a few inflation metrics out; EU CPI, UK CPI, US PPI and capacity utilisation, NZ PPI, and Canada CPI. There's also monetary policy meeting minutes due from the Bank of England, and the Reserve Bank of Australia; speaking of which, there's also the Australian elections at the end of the week.

(More commentary follows the table)

Day Time (GMT) Code Event/Release Forecast Previous
CNY Foreign Direct Investment ytd/y 19.6%
MON 00:00 CNY CB Leading Index m/m 0.8%
MON 00:00 JPY Gross Domestic Product Annualized (2Q) 2.3% 5.0%
MON 00:00 JPY Nominal Gross Domestic Product (QoQ) -0.3% 1.3%
MON 00:00 JPY Gross Domestic Product (QoQ) (2Q P) 0.6% 1.2%
MON 00:00 JPY Gross Domestic Product Deflator (YoY) -1.8% -2.8%
MON 09:00 EUR Euro-Zone CPI - Core (YoY) (JUL) 1.0% 0.9%
MON 09:00 EUR Euro-Zone Consumer Price Index (YoY) 1.7%
MON 12:30 USD Empire Manufacturing (AUG) 8.25 5.08
MON 01:30 AUD Reserve Bank's Board August Minutes
TUE 08:00 EUR Euro-Zone Current Account s.a. (euros) -5.8B
TUE 08:00 EUR Euro-Zone Current Account n.s.a. (JUN) -16.7B
TUE 08:30 GBP Core Consumer Price Index (YoY) (JUL) 3.1%
TUE 08:30 GBP Consumer Price Index (YoY) (JUL) 3.1% 3.2%
TUE 12:30 USD Housing Starts (JUL) 549K
TUE 12:30 USD Building Permits (MoM) (JUL) 2.1%
TUE 12:30 USD Producer Price Index (YoY) (JUL) 4.2% 2.8%
TUE 12:30 USD PPI Excluding Food & Energy (YoY) (JUL) 0.2% 1.1%
TUE 13:15 USD Industrial Production (JUL) 0.5% 0.1%
TUE 13:15 USD Capacity Utilization (JUL) 74.5% 74.1%
TUE 21:00 USD ABC Consumer Confidence (AUG 15)
TUE 00:30 AUD Westpac Leading Index (MoM) (JUN) 0.2%
WED 05:00 JPY Coincident Index (JUN F) (JUN F)
WED 05:00 JPY Leading Index (JUN F) (JUN F)
WED 08:30 GBP Bank of England Minutes (AUG 18)
WED 22:45 NZD Producer Prices- Outputs (QoQ) (2Q) 1.8%
WED 22:45 NZD Producer Prices- Inputs (QoQ) (2Q) 1.3%
WED 03:00 NZD ANZ Consumer Confidence Index (AUG) 115.6
THU 06:15 CHF Trade Balance (Swiss franc) (JUL) 1.77B
THU 08:30 GBP Retail Sales With Auto Fuel (YoY) (JUL) 1.1% 1.3%
THU 08:30 GBP Retail Sales (YoY) (JUL) 3.1%
THU 12:30 CAD Leading Indicators (MoM) (JUL) 1.0%
THU 12:30 CAD Wholesale Sales (MoM) (JUN) -0.1%
THU 12:30 USD Initial Jobless Claims (AUG 14) 480K 484K
THU 14:00 USD Leading Indicators (JUL) 0.1% -0.2%
THU 14:00 USD Philadelphia Fed. (AUG) 7.5 5.1
THU 22:45 NZD New Zealand Net Migration s.a. (JUL) 70
FRI 11:00 CAD Consumer Price Index (YoY) (JUL) 1.0%
FRI 11:00 CAD Bank Canada CPI Core (YoY) (JUL) 1.7%
FRI AUD Australian Elections

For what is a relatively quiet week, the main event will be on Monday with Japan releasing its second quarter GDP numbers. The Japanese economy is projected to have grown 2.3% on an annualised basis in Q2, or 0.6% on a quarter over quarter basis... and about -0.3% quarter on quarter on a nominal basis (hmm I guess that's where having deflation is a good thing?). Japan also has a few other minor indicators out during the week e.g. the coincident and leading indexes. Anyway, the Japanese economic recovery is relatively entrenched thanks to the normalization of global trade volumes, but of course it still faces the demographic challenge, the fiscal challenge, and of course the deflation challenge.

As noted, much of the data releases this week will inform the view on the inflation situation. The first up will be the EU with July year on year inflation projected to increase slightly, then there's the UK with it's own RPI and CPI - expected to remain static around 3%. Then the US releases PPI on Tuesday, which is expected to spike up on the back of food and energy prices; there is also an expectation that capacity utilisation will also edge up slightly. New Zealand also releases its PPI stats on Wednesday, followed by Canada with its CPI or Consumer Price Index data on Friday.

There is a scattering of other interesting data points out during the week, including China's foreign direct investment numbers and its leading index; which will add to the picture seen last week when the major data release was made. Other releases of note are EU current account for June, US industrial production (which is expected to increase slightly), US ABC Consumer Confidence index, NZ ANZ consumer confidence index, UK retail sales, and NZ net migration.

While there's no major monetary policy moves on the calendar, there is the meeting minutes due from the Reserve Bank of Australia, which will likely be pretty straightforward; in line with the messaging that was in the recent monetary policy announcement where they left rates unchanged at 4.5%. The Bank of England is also set to release its minutes on Wednesday; this one will be more interesting because the Bank of England doesn't really say much when it announces its decisions (which were recently to hold the rate at 0.50% and the APP at GBP 200 billion). On the policy front, its worth noting that Australia has its elections on Friday/Saturday.

So as always, have a great week, watch out for surprises, and stay tuned for updates...

Sources
DailyFX
Forex Pros
Forex Factory
Bloomberg

+various statistics websites and central bank websites for verification


Disclosure: No positions

Source: This Week's Economic Calendar