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Here's the economic calendar for the week commencing the 30th of May 2011. This week there’s a number of monetary policy decisions due from both emerging market and developed market central banks. There are also further revisions to Q1 GDP data due out from Japan and the eurozone. Among other data points due out this week is employment data from Canada and Australia, international trade flows for China, and some inflation metrics for Germany, the UK and US.

Date

GMT

Country/ Currency

Event

Forecast

Previous

MON

09:00

EUR

Eurozone Producer Price Index (YoY)

6.60%

6.70%

MON

14:00

CAD

Ivey Purchasing Managers Index

60.00

57.70

MON

14:00

CAD

Ivey Purchasing Managers Index SA

55.00

57.80

TUE

04:30

AUD

Reserve Bank of Australia Rate Decision

4.75%

4.75%

TUE

07:15

CHF

Consumer Price Index (YoY)

0.30%

0.30%

TUE

09:00

EUR

Eurozone Retail Sales (YoY)

0.00%

-1.70%

TUE

10:00

EUR

German Factory Orders n.s.a. (YoY)

9.10%

9.70%

TUE

19:00

USD

Consumer Credit

$5.000B

$6.016B

TUE

23:50

JPY

Current Account Total (Yen)

¥200.0B

¥1679.1B

TUE

23:50

JPY

Adjusted Current Account Total (Yen)

¥266.0B

¥752.7B

WED

04:30

JPY

Bankruptcies (YoY)

-6.80%

WED

05:00

JPY

Eco Watchers Survey: Current

33.00

28.30

WED

05:00

JPY

Eco Watchers Survey: Outlook

38.40

WED

05:45

CHF

Unemployment Rate

3.00%

3.10%

WED

09:00

EUR

Eurozone Gross Domestic Product s.a. (YoY)

2.50%

2.50%

WED

09:00

EUR

Eurozone Gross Domestic Product s.a. (QoQ)

0.80%

0.80%

WED

10:00

EUR

German Industrial Production n.s.a. and w.d.a. (YoY)

10.00%

11.20%

WED

12:15

CAD

Housing Starts

185.0K

179.0K

WED

18:00

USD

Fed Releases Beige Book Economic Survey

WED

21:00

NZD

Reserve Bank of New Zealand Rate Decision

2.50%

2.50%

WED

23:50

JPY

Nominal Gross Domestic Product (QoQ)

-1.30%

-1.30%

WED

23:50

JPY

Gross Domestic Product Annualized

-3.10%

-3.70%

WED

23:50

JPY

Gross Domestic Product (QoQ)

-0.80%

-0.90%

WED

01:30

AUD

Employment Change

-22.1K

WED

01:30

AUD

Unemployment Rate

4.90%

4.90%

THU

05:00

JPY

Consumer Confidence

34.50

33.10

THU

11:00

GBP

BOE Asset Purchase Target

200B

200B

THU

11:00

GBP

Bank of England Rate Decision

0.50%

0.50%

THU

11:45

EUR

European Central Bank Rate Decision

1.25%

THU

12:30

CAD

New Housing Price Index (YoY)

1.80%

1.90%

THU

23:50

JPY

Domestic Corporate Goods Price Index (YoY)

2.50%

2.50%

THU

CNY

Actual FDI (YoY)

15.20%

THU

EUR

German Wholesale Price Index (YoY)

9.20%

THU

GBP

NIESR Gross Domestic Product Estimate

0.30%

THU

02:00

CNY

Trade Balance (USD)

$19.80B

$11.42B

THU

02:00

CNY

Exports YoY%

22.00%

29.90%

THU

02:00

CNY

Imports YoY%

22.50%

21.80%

FRI

06:00

EUR

German Consumer Price Index (YoY)

2.30%

2.30%

FRI

06:45

EUR

French Industrial Production (YoY)

3.90%

3.30%

FRI

06:45

EUR

French Manufacturing Production (YoY)

4.10%

4.60%

FRI

08:00

EUR

Italian Gross Domestic Product s.a. and w.d.a. (YoY)

1.00%

1.00%

FRI

08:30

GBP

Industrial Production (YoY)

1.30%

0.70%

FRI

08:30

GBP

Manufacturing Production (YoY)

3.40%

2.70%

FRI

08:30

GBP

Producer Price Index Input n.s.a. (YoY)

16.20%

17.60%

FRI

08:30

GBP

Producer Price Index Output n.s.a. (YoY)

5.30%

5.30%

FRI

08:30

GBP

Producer Price Index Output Core n.s.a. (YoY)

3.40%

3.40%

FRI

11:00

CAD

Unemployment Rate

7.60%

7.60%

FRI

11:00

CAD

Net Change in Employment

20.0K

58.3K

FRI

12:30

USD

Import Price Index (MoM)

-0.70%

2.20%

FRI

12:30

USD

Import Price Index (YoY)

11.20%

11.10%

FRI

18:00

USD

Monthly Budget Statement

-$150.0B

The week ahead is set to be a busy one in terms of monetary policy with the following banks due to announce decisions: National Bank of Poland - 8th of June (expected to hold at 4.25%), Banco Central do Brasil – 8th June (expected to increase 25bps from current 12.00%), Bank of Korea - 10th of June (expected to hold at 3.00), Reserve Bank of Australia - 7th of June (expected to hold at 4.75%), Reserve Bank of New Zealand – 9th June (expected to hold at 2.50%), Bank of England – 9th June (expected to hold at 0.50%), and the European Central Bank – 9th June (expected to pause its tightening again at 1.25%). The tone and content of the developed market central banks will be interest in terms of assessing the inflation and monetary policy outlook.

On GDP, while Australia announced its disappointing result last week, this week is relatively quiet with data due from Japan and the eurozone. The data is essentially a further revision to the original Q1 data, expectations are that the eurozone will likely stay near its original reading, but Japan may revise its GDP figures downward as the impact of the disasters become clearer.

As for inflation, there’s not a lot of major data out, but as inflation is almost set to be a big topic in the medium term, it’s wise to monitor all aspects of the inflation picture closely for any early clues of major trends. The US has import price data due out, expected to moderate a little bit as oil prices stabilize. The UK has PPI data due, which is also expected to moderate slightly for the same reasons. Switzerland and Germany have consumer price index numbers due, which are expected to be about flat.

Elsewhere this week, there’s employment numbers from Australia and Canada; Canada is expected to show a small positive, while both economies will likely see no significant changes in the unemployment rate. Another key data point this week will be China’s international trade figures, which are expected to see moderate growth in exports and imports, and a trade balance as high as $20B.

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.

Source: Economic Calendar: Monetary Policy, GDP, Inflation and China Trade Data