Next Week’s Menu
Central Banks: Monetary policy reviews scheduled in Hungary, South Korea, Israel and Iceland. Lowe and Debelle of the Reserve Bank of Australia and Suzuki of the Bank of Japan speak publicly.
Events and Holidays: The annual Central Bank Symposium at Jackson Hole, Wyoming ends on Saturday, and the annual Group of Seven summit begins that same day. This year’s site is Biarritz, France. France also hosted the first G7 summit in November 1975. This tradition for leaders of the U.S., Japan, Canada, U.K., France, Italy, and Germany was originally established to coordinate foreign exchange policy, but the agenda has since broadened to a vast array of economic and foreign policy topics. This will be Donald Trump’s third G7 summit and Boris Johnson’s first. Trump was quite isolated at the 2017 and 2018 summits but should find plenty in common with the new British prime minister. For the first time, no G7 joint statement will be released at this year’s summit, which runs for three days. Great Britain observes its late summer banking holiday on Monday as well.
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Scheduled U.S. Economic Data Releases: Quarterly GDP. Monthly personal income and spending, durable goods orders, Richmond and Dallas Fed manufacturing surveys, FHFA house price index, Case-Shiller house price index, Conference Board’s consumer confidence index, U. Michigan/Reuters consumer sentiment index, Chicago Fed National Activity index, Chicago regional PMI, and trade deficit. Weekly jobless insurance claims, mortgage applications, consumer comfort, chain store sales, and energy inventories.
Euroland Releases: Money and credit growth, economic sentiment, unemployment and consumer prices.
Members of the Euro Area: German retail sales, import prices, CPI, unemployment, and IFO business climate survey. French and Italian GDP, consumer confidence, and business sentiment. Italian, Spanish, Finnish, Austrian, and Greek producer prices. Italian, Spanish and Portuguese consumer prices. Cypriot and Portuguese industrial production. Irish and Portuguese retail sales. Austrian and Portuguese GDP. Portuguese consumer sentiment, French consumer spending, and Austria’s manufacturing purchasing managers index.
U.K. and Switzerland: British shop prices, Nationwide house price index, consumer confidence, money and credit growth and mortgage approvals. Swiss ZEW expectations index of investor sentiment, KOF index of leading economic indicators and quarterly employment growth.
Nordic Europe: Swedish and Icelandic producer prices. Danish and Icelandic GDP. Swedish and Norwegian retail sales. Swedish consumer sentiment and Iceland’s CPI.
Eastern Europe: Czech consumer sentiment and business confidence. Polish GDP and unemployment.
Japanese Data: Retail sales, industrial production, auto output, housing starts, construction orders, consumer confidence, Tokyo CPI, corporate service prices and index of leading economic indicators.
Other Selected Asian Releases: Hong Kong retail sales and trade balance. Chinese corporate profits. South Korean manufacturing sector sentiment, industrial production and consumer confidence. Singaporean PPI and industrial production. Indian GDP, Thai current account, and Filipino PPI.
Australia, New Zealand and South Africa: Australian and New Zealand building permits. Australian and South African money growth and domestic credit expansion. Australian quarterly business investment and monthly construction work done. New Zealand business sentiment and trade balance. South African PPI, unemployment and trade balance.
Canada, Mexico and Brazil: Canadian quarterly and monthly GDP, quarterly current account and monthly PPI. Mexican trade balance and unemployment. Brazilian PPI and GDP
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Sunday, December 27, 2020