Here's the Economic Calendar for the week commencing the 5th of December 2010. This week there's a few central bank meetings (AUD, CAD, NZD, GBP), China data begins to trickle out (property prices, international trade), and a range of trade, international accounts, and industrial production figures are due out from a range of economies.
(More commentary follows the table)
As noted it's set to be a big monetary policy week in the developed economies. The Reserve Bank of Australia, Bank of Canada, Reserve Bank of New Zealand, and Bank of England are all set to review monetary policy this week. However, it is quite unlikely that any of them will materially change policy. The only possibilities is that the RBA could surprise the markets again with a rate hike, or the BoE might alter its asset purchase plan, but the baseline scenario is for no changes - anything else will be a surprise.
China begins releasing its key data series this week, first up will be property prices (likely Friday), and consensus is for a slightly slower rate of growth. This will be an important indicator to watch given the policy backdrop. The other key data point is the international trade data, which has obvious Yuan implications, but also important to watch globally in terms of the China effect with imports, and for its own economy, with exports.
Also out this week is a range of industrial production and manufacturing production reports. The UK is expected to show slightly improved numbers, Germany a bit better, France also, ditto Italy. So it will be good to gauge the state of Euro region manufacturing activity - an important aspect of the recovery, especially in countries with a strong manufacturing base like Germany.
Other key bits to keep an eye on include another reading of the Q3 GDP numbers in Japan, US consumer credit, German trade data, Aussie jobs numbers, the US trade balance, and the Reuters University of Michigan consumer sentiment survey in the US.
So as always, have a great week, watch out for surprises, and stay tuned for updates...
Sources
DailyFX www.dailyfx.com/calendar
Forex Pros www.forexpros.com/economic-calendar/
Forex Factory www.forexfactory.com/calendar.php
Bloomberg www.bloomberg.com
+various statistics websites and central bank websites for verification
Article Source: http://www.econgrapher.com/5dec-calendar.html
(More commentary follows the table)
| Day | GMT | Country/ Currency | Event | Forecast | Previous |
| MON | 15:00 | CAD | Ivey Purchasing Managers Index (NOV) | 56.20 | 56.70 |
| MON | 16:01 | CNY | China Manpower Survey (1Q) | 51.00% | |
| MON | 23:00 | NZD | QV House Prices (YoY) (NOV) | 1.10% | |
| MON | GBP | NIESR Gross Domestic Product Estimate (NOV) | 0.50% | ||
| MON | 03:30 | AUD | Reserve Bank of Australia Rate Decision (DEC) | 4.75% | 4.75% |
| TUE | 09:30 | GBP | Industrial Production (YoY) (OCT) | 3.90% | 3.80% |
| TUE | 09:30 | GBP | Manufacturing Production (YoY) (OCT) | 5.40% | 4.80% |
| TUE | 11:00 | EUR | German Factory Orders n.s.a. (YoY) (OCT) | 18.60% | 14.0% |
| TUE | 14:00 | CAD | Bank of Canada Rate Decision (DEC) | 1.00% | 1.00% |
| TUE | 20:00 | USD | Consumer Credit (OCT) | -$1.0B | $2.1B |
| TUE | 23:50 | JPY | Current Account Total (Yen) (OCT) | ¥1521.0B | ¥1959.8B |
| TUE | 23:50 | JPY | Trade Balance - BOP Basis (Yen) (OCT) | ¥953.0B | ¥926.9B |
| TUE | 23:50 | JPY | Machine Orders (MoM) (OCT) | -0.10% | -10.30% |
| TUE | 23:50 | JPY | Machine Orders (YoY) (OCT) | 8.30% | 4.20% |
| WED | 07:00 | EUR | German Exports s.a. (MoM) (OCT) | 0.00% | 3.00% |
| WED | 07:00 | EUR | German Imports s.a. (MoM) (OCT) | 1.00% | -1.60% |
| WED | 07:00 | EUR | German Current Account (euros) (OCT) | 13.0B | 14.0B |
| WED | 07:00 | EUR | German Trade Balance (euros) (OCT) | 15.1B | 16.8B |
| WED | 11:00 | EUR | German Industrial Production (YoY) (OCT) | 10.00% | 7.90% |
| WED | 11:00 | EUR | German Industrial Production s.a. (MoM) (OCT) | 1.00% | -0.80% |
| WED | 20:00 | NZD | Reserve Bank of New Zealand Rate Decision | 3.00% | 3.00% |
| WED | 23:50 | JPY | Gross Domestic Product Deflator (YoY) (3Q F) | -2.00% | -2.00% |
| WED | 23:50 | JPY | Nominal Gross Domestic Product (QoQ) (3Q F) | 0.80% | 0.70% |
| WED | 23:50 | JPY | Gross Domestic Product Annualized (3Q F) | 4.10% | 3.90% |
| WED | 23:50 | JPY | Gross Domestic Product (QoQ) (3Q F) | 1.00% | 0.90% |
| WED | 00:30 | AUD | Employment Change (NOV) | 20.0K | 29.7K |
| WED | 00:30 | AUD | Unemployment Rate (NOV) | 5.20% | 5.40% |
| THU | 07:00 | EUR | German Consumer Price Index (YoY) (NOV F) | 1.50% | 1.50% |
| THU | 12:00 | GBP | Bank of England Asset Purchase Target (DEC) | 200B | 200B |
| THU | 12:00 | GBP | Bank of England Rate Decision (DEC) | 0.50% | 0.50% |
| THU | 21:45 | NZD | Terms of Trade Index (QoQ) (3Q) | 1.60% | 2.10% |
| FRI | 05:00 | CNY | China Property Prices (NOV) | 8.00 | 8.60 |
| FRI | 05:00 | CNY | Trade Balance (NOV) | $21.00B | $27.15B |
| FRI | 05:00 | CNY | Exports (YoY) (NOV) | 22.70% | 22.90% |
| FRI | 05:00 | CNY | Imports (YoY) (NOV) | 24.30% | 25.30% |
| FRI | 05:00 | JPY | Consumer Confidence (NOV) | 41.10 | |
| FRI | 07:45 | EUR | French Industrial Production (YoY) (OCT) | 5.50% | 5.10% |
| FRI | 07:45 | EUR | French Manufacturing Production (YoY) (OCT) | 5.10% | 4.90% |
| FRI | 09:00 | EUR | Italian Industrial Production n.s.a. (YoY) (OCT) | 5.00% | 4.10% |
| FRI | 09:30 | GBP | Producer Price Index Input n.s.a. (YoY) (NOV) | 8.30% | 8.00% |
| FRI | 09:30 | GBP | Producer Price Index Output n.s.a. (YoY) (NOV) | 4.00% | 4.00% |
| FRI | 10:00 | EUR | Italian Gross Domestic Product (QoQ) (3Q F) | 0.20% | 0.20% |
| FRI | 10:00 | EUR | Italian Gross Domestic Product (YoY) (3Q F) | 1.00% | 1.00% |
| FRI | 13:30 | CAD | International Merchandise Trade (CAD) (OCT) | -2.0B | -2.5B |
| FRI | 13:30 | USD | Trade Balance (OCT) | -$43.8B | -$44.0B |
| FRI | 13:30 | USD | Import Price Index (YoY) (NOV) | 2.90% | 3.60% |
| FRI | 14:00 | USD | Paul Volcker Speaks on Monetary Policy | ||
| FRI | 14:55 | USD | U. of Michigan Confidence (DEC P) | 72.00 | 71.60 |
China begins releasing its key data series this week, first up will be property prices (likely Friday), and consensus is for a slightly slower rate of growth. This will be an important indicator to watch given the policy backdrop. The other key data point is the international trade data, which has obvious Yuan implications, but also important to watch globally in terms of the China effect with imports, and for its own economy, with exports.
Also out this week is a range of industrial production and manufacturing production reports. The UK is expected to show slightly improved numbers, Germany a bit better, France also, ditto Italy. So it will be good to gauge the state of Euro region manufacturing activity - an important aspect of the recovery, especially in countries with a strong manufacturing base like Germany.
Other key bits to keep an eye on include another reading of the Q3 GDP numbers in Japan, US consumer credit, German trade data, Aussie jobs numbers, the US trade balance, and the Reuters University of Michigan consumer sentiment survey in the US.
So as always, have a great week, watch out for surprises, and stay tuned for updates...
Sources
DailyFX www.dailyfx.com/calendar
Forex Pros www.forexpros.com/economic-calendar/
Forex Factory www.forexfactory.com/calendar.php
Bloomberg www.bloomberg.com
+various statistics websites and central bank websites for verification
Article Source: http://www.econgrapher.com/5dec-calendar.html
