Here's the Economic Calendar for the week commencing the 13th of March 2011. This week there's CPI inflation data from the Euro Zone, Canada, and the US, the US also has PPI data due out. In monetary policy there's the Bank of Japan, the US Fed, and Swiss National Bank meeting review their monetary policy settings. Elsewhere there's new loans and money supply data from China, and Industrial production figures from the EU, Japan, and US.
(More commentary follows the table)
|SUN||NZD||REINZ Housing Price Index MoM%||-2.60%|
|SUN||CNY||Actual FDI (YoY)||23.40%|
|SUN||CNY||New Yuan Loans||600.0B||1040.0B|
|SUN||CNY||Money Supply - M2 (YoY)||17.00%||17.20%|
|MON||05:00||EUR||Euro-Zone Industrial Production w.d.a. (YoY)||6.50%||8.80%|
|MON||19:30||AUD||Reserve Bank's Board March Minutes|
|MON||23:00||JPY||Bank of Japan Rate Decision (MAR 15)||0.10%||0.10%|
|MON||23:30||JPY||Industrial Production (YoY)||4.70%|
|MON||01:30||EUR||French Consumer Price Index (YoY)||1.70%||1.80%|
|TUE||05:00||EUR||German ZEW Survey (Economic Sentiment)||16.00||15.70|
|TUE||07:30||CAD||Labor Productivity (QoQ)||0.30%||0.10%|
|TUE||07:30||USD||Import Price Index (YoY)||6.50%||5.30%|
|TUE||13:15||USD||FOMC Rate Decision||0.25%||0.25%|
|WED||04:00||EUR||Italian Consumer Price Index (YoY)||2.10%||2.10%|
|WED||04:30||GBP||Jobless Claims Change||1.3K||2.4K|
|WED||05:00||EUR||Euro-Zone Consumer Price Index - Core (YoY)||1.10%||1.10%|
|WED||05:00||EUR||Euro-Zone Consumer Price Index (MoM)||0.40%||-0.70%|
|WED||05:00||EUR||Euro-Zone Consumer Price Index (YoY)||2.40%|
|WED||07:30||USD||Producer Price Index (YoY)||4.70%||3.60%|
|WED||07:30||USD||Current Account Balance||-$110.0B||-$127.2B|
|WED||07:30||USD||Producer Price Index Ex Food & Energy (YoY)||1.80%||1.60%|
|WED||03:15||CHF||Industrial Production (YoY)||6.30%||5.80%|
|WED||03:30||CHF||Swiss National Bank Rate Decision (MAR 17)||0.25%||0.25%|
|THU||07:30||USD||Consumer Price Index (YoY)||2.00%||1.60%|
|THU||07:30||USD||Consumer Price Index Ex Food & Energy (YoY)||1.00%||1.00%|
|THU||07:30||USD||Continuing Claims (MAR 5)||3750K||3771K|
|THU||18:50||JPY||BOJ Feb. 16-17 Board Meeting Minutes|
|THU||02:00||EUR||German Producer Prices (YoY)||6.30%||5.70%|
|FRI||04:00||EUR||Euro-Zone Current Account s.a. (euros)||-13.3B|
|FRI||05:00||EUR||Euro-Zone Trade Balance s.a. (euros)||-2.5B||-2.3B|
|FRI||06:00||CAD||Consumer Price Index (YoY)||2.30%||2.30%|
|FRI||06:00||CAD||Bank Canada Consumer Price Index Core (YoY)||1.40%|
As noted there's few key pieces of inflation data due out this week. Of interest, given the recent comments of the ECB, the EU is expected to show slightly higher headline inflation for February. Meanwhile in the US CPI inflation is expected to rise to as much as 2%, while PPI is expected to accelerate to almost 5%. Consensus sees Canada's CPI flat. Given the monetary policy backdrop and the rising commodities story, not to mention just a little bit of economic growth, the inflation results are going to become increasingly interesting.
Speaking of monetary policy, the Bank of Japan is set to meet early in the week, and there could be some sort of symbolic move by them in response to the massive 8.9 earthquake. Shortly after the US FOMC is set to put out its statement - no move is expected, but the statement will attract a lot of attention from people looking for clues as to how and when the Fed will exit from its current policy settings. The other major bank is the Swiss National Bank, which is also expected to hold. Other than that, there'll also be meeting minutes released from the Bank of Japan and the Reserve Bank of Australia.
Other key data due out this week includes China's money supply and lending stats, on both counts the results should be down due to the holidays, but watch for surprises. On industrial production, the EU is expected to see a slight slowdown, but still positive year on year, while the US is expected to see a small positive. The US will also release its current account balance figures, and housing starts; with housing market activity expected to remain subdued.
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: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.