This Week's Economic Calendar: New Zealand GDP, Canadian CPI

|
 |  Includes: AUNZ, CUD, ENZL, GBB, JYN, UDN
by: Econ Grapher

Here's the economic calendar for the week commencing the 19th of December 2010. This week there's New Zealand Q3 GDP results, as well as further revisions to the Q3 GDP results from the UK and US, New Zealand also puts out its 3rd quarter current account data. On the monetary policy front, the Bank of Japan will review policy, and the RBA and BoE will release minutes from their recent policy meetings. Elsewhere there's Canadian CPI, Japanese exports, and US consumer sentiment numbers.

(More commentary follows the table)

Date GMT Country/

Currency

Event Forecast Previous
MON 09:00 EUR Euro-Zone Current Account n.s.a. (OCT) -9.2B
MON 09:00 EUR Euro-Zone Current Account s.a. (OCT) -13.1B
MON 15:00 EUR Euro-Zone Consumer Confidence (DEC A) -9.00 -9.40
MON 21:45 NZD New Zealand Net Migration SA (NOV) 680.00
MON 00:30 AUD Reserve Bank's Board December Minutes
MON 04:30 JPY All Industry Activity Index (MoM) (OCT) -0.20% -0.80%
TUE 05:00 JPY Bank of Japan Rate Decision (DEC) 0.10% 0.10%
TUE 07:15 CHF Trade Balance (Swiss franc) (NOV) 2.10B
TUE 09:30 GBP Public Finances (PSNCR) (Pounds) (NOV) 12.3B 2.4B
TUE 09:30 GBP Public Sector Net Borrowing (Pounds) (NOV) 16.8B 9.8B
TUE 12:00 CAD Consumer Price Index (YoY) (NOV) 2.30% 2.40%
TUE 12:00 CAD Bank Canada CPI Core (YoY) (NOV) 1.60% 1.80%
TUE 13:30 CAD Retail Sales (MoM) (OCT) 0.50% 0.60%
TUE 13:30 CAD Retail Sales Less Autos (MoM) (OCT) 0.70% 0.40%
TUE 21:45 NZD Current Account Balance (3Q) -2.304B -0.880B
TUE 21:45 NZD Current Account Deficit-GDP Ratio (3Q) -3.40% -3.00%
TUE 23:50 JPY Merchandise Trade Balance Total (NOV) ¥481.7B ¥821.3B
TUE 23:50 JPY Adjusted Merchandise Trade Balance (NOV) ¥626.3B ¥578.5B
TUE 23:50 JPY Merchandise Trade Exports (YoY) (NOV) 10.30 7.80
TUE 23:50 JPY Merchandise Trade Imports (YoY) (NOV) 9.00 8.80
WED 09:30 GBP Total Business Investment (QoQ) (3Q F) -0.20% -0.20%
WED 09:30 GBP Gross Domestic Product (QoQ) (3Q F) 0.80% 0.80%
WED 09:30 GBP Gross Domestic Product (YoY) (3Q F) 2.80% 2.80%
WED 09:30 GBP Bank of England Minutes (DEC)
WED 09:30 GBP Total Business Investment (YoY) (3Q F) 4.60% 4.60%
WED 13:30 USD Gross Domestic Product (Annualized) (3Q T) 2.80% 2.50%
WED 13:30 USD Gross Domestic Product Price Index (3Q T) 2.30% 2.30%
WED 15:00 USD House Price Index (MoM) (OCT) -0.10% -0.70%
WED 15:00 USD Existing Home Sales (NOV) 4.75M 4.43M
WED 21:45 NZD Gross Domestic Product (QoQ) (3Q) 0.10% 0.20%
WED 21:45 NZD Gross Domestic Product (YoY) (3Q) 1.80% 1.90%
THU 13:30 CAD Gross Domestic Product (MoM) (OCT) 0.30% -0.10%
THU 13:30 USD Personal Income (NOV) 0.30% 0.50%
THU 13:30 USD Durable Goods Orders (NOV) -3.30%
THU 13:30 USD Durables Ex Transportation (NOV) -2.70%
THU 13:30 USD Personal Spending (NOV) 0.50% 0.40%
THU 13:30 USD Personal Consumption Expenditure Deflator 1.30%
THU 13:30 USD Initial Jobless Claims (DEC 18) 420K 420K
THU 13:30 USD Personal Consumption Expenditure Core 0.90% 0.90%
THU 14:55 USD U. of Michigan Confidence (DEC F) 74.50 74.20
THU 15:00 USD New Home Sales (NOV) 300K 283K
Click to enlarge
Click to enlarge

As noted, New Zealand will release its Q3 GDP results this week, with expectations for a slight slowing of growth to about 0.10% q/q or 1.8% y/y. The US and UK will also announce further revisions to their Q3 GDP results, with the US expected to slightly revise up its results. Canada will also release its monthly GDP stats for October.

On Monetary Policy the Bank of Japan is set to meet early this week, with no expectations for interest rate changes, and a low chance of other adjustments - but it will be worth keeping an eye on as the Tankan results were less than impressive. There's also the monetary policy meeting minutes from the Reserve Bank of Australia and the Bank of England. The Bank of England notes will be worth a look as the BoE does not include much details in their initial rate announcements.

Elsewhere, there's CPI data due out of Canada, with a slight slowing of inflation expected; then there's Japan merchandise trade data for November with improvements expected; the US has existing home sales and new home sales data out; and the US also has the University of Michigan consumer sentiment survey results out for December.

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

Sources

+various statistics websites and central bank websites for verification

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.