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.
