Here's the Economic Calendar for the week commencing the 17th of October 2010. This week China takes the stage with its monthly main economic indicators release; of course as it is also a quarter end there will be GDP data as well. Elsewhere the Bank of Canada will announce its interest rate decision on Tuesday, and the RBA and BoE will release monetary policy meeting minutes and the Fed will release its Beige Book. Also on the radar is the G-20 Summit of Finance Ministers and Central Bank Governors on Thursday.
(More commentary follows the table)
|SUN||21:45||NZD||Consumer Prices Index (QoQ) (3Q)||1.0%||0.3%|
|SUN||21:45||NZD||Consumer Prices Index (YoY) (3Q)||1.5%||1.8%|
|MON||13:15||USD||Industrial Production (SEP)||0.2%||0.2%|
|MON||13:15||USD||Capacity Utilization (SEP)||74.8%||74.7%|
|MON||00:30||AUD||Reserve Bank's Board October Minutes|
|TUE||08:00||EUR||Euro-Zone Current Account n.s.a.||3.7B|
|TUE||08:00||EUR||Euro-Zone Current Account s.a.||-3.8B|
|TUE||09:00||EUR||Euro-Zone Construction Output (YoY)||-7.5%|
|TUE||12:30||USD||Housing Starts (SEP)||583K||598K|
|TUE||12:30||USD||Housing Starts (MoM) (SEP)||-2.6%||10.5%|
|TUE||12:30||USD||Building Permits (SEP)||575K||571K|
|TUE||12:30||USD||Building Permits (MoM) (SEP)||0.7%||1.8%|
|TUE||13:00||CAD||Bank of Canada Rate Decision||1.00%||1.00%|
|TUE||21:00||USD||ABC Consumer Confidence|
|WED||05:00||JPY||Coincident Index (AUG F) (AUG F)|
|WED||05:00||JPY||Leading Index (AUG F) (AUG F)|
|WED||08:30||GBP||Bank of England Minutes (OCT 20)|
|WED||18:00||USD||Fed's Beige Book (OCT 20)|
|WED||02:00||CNY||Real GDP YoY (3Q)||9.5%||10.3%|
|WED||02:00||NZD||Consumer Confidence Index (OCT)||116.4|
|WED||02:00||CNY||Producer Price Index (YoY) (SEP)||4.1%||4.3%|
|WED||02:00||CNY||GDP Year-to-Date (YoY) (3Q)||10.5%||11.1%|
|WED||02:00||CNY||Purchasing Price Index (YoY) (SEP)||7.5%|
|WED||02:00||CNY||Consumer Price Index (YoY) (SEP)||3.6%||3.5%|
|WED||02:00||CNY||Retail Sales (YoY) (SEP)||18.5%||18.4%|
|WED||02:00||CNY||Retail Sales YTD YoY (SEP)||18.3%||18.2%|
|WED||02:00||CNY||Industrial Production (YoY) (SEP)||14%||13.9%|
|WED||02:00||CNY||Industrial Production YTD YoY (SEP)||16.3%||16.6%|
|WED||02:00||CNY||Fixed Assets Inv Urban YTD YoY (SEP)||24.6%||24.8%|
|THU||04:30||JPY||All Industry Activity Index (MoM) (AUG)||-0.4%||1.00%|
|THU||06:15||CHF||Trade Balance (Swiss franc) (SEP)||1.20B||0.58B|
|THU||08:30||GBP||Retail Sales (YoY) (SEP)||2.0%||1.9%|
|THU||08:30||GBP||Retail Sales with Auto Fuel (YoY) (SEP)||0.9%||0.4%|
|THU||12:30||USD||Initial Jobless Claims (OCT 16)||453K||462K|
|THU||12:30||USD||Continuing Claims (OCT 9)||4420K||4399K|
|THU||14:00||EUR||Euro-Zone Consumer Confidence (OCT A)||-11||-11|
|THU||G-20 Finance Ministers, C.Bank Governors|
|FRI||CAD||Consumer Price Index (MoM) (SEP)||0.1%||-0.1%|
|FRI||CAD||Consumer Price Index (YoY) (SEP)||1.9%||1.7%|
|FRI||CAD||Bank Canada CPI Core (MoM) (SEP)||0.3%||0.1%|
|FRI||CAD||Bank Canada CPI Core (YoY) (SEP)||1.6%||1.6%|
As noted the main even this week is the China data; China's Q3 GDP will be closely watched and is forecast to come in around 9.5% (down slightly on previous 10.3%). The other bits to watch will be the CPI figures (expected to rise to 3.6%), as latent inflationary pressures are surely likely to flow through soon. Then of course there's also industrial production, retail sales, and fixed asset investment.
In monetary policy, the Bank of Canada is set to review monetary policy this week, with the consensus for a hold at 1.00%. The Reserve Bank of Australia and the Bank of England will release their latest monetary policy meeting minutes, and the US Federal Reserve will release its Beige Book report on the economy - something that will likely be read with much interest in the backdrop of speculation around a second round of quantitative easing.
On the topic of central banking there will be a high level summit of central bankers hosted by the IMF and the Peoples Bank of China in Shanghai on Monday (with a focus on macroprudential policies). Then there's the G-20 summit of finance ministers and central bank governors on Thursday, which will be a key forum as policy makers try to ensure a continuation of the economic recovery - without falling into the trap of a race to the bottom with currency wars and protectionism.
Other key features of the week will be CPI figures from Canada (expected to be about 1.9% y/y) and New Zealand (expected to be about 1.5% y/y). Also in the US there's industrial production and capacity utilisation figures on Monday; and housing starts, permits, and ABC consumer confidence on Tuesday.
So as always, have a great week, watch out for surprises, and stay tuned for updates...
+various statistics websites and central bank websites for verification
Disclosure: "No positions"