Here's the Economic Calendar for the week commencing the 19th of July 2010. This week there's multiple data points out on the US housing market, with June housing starts, building permits, existing home sales, and the house price index for May. There's also the first developed market GDP figures out on Friday from the UK, which also has retail sales out. On the monetary policy front the Bank of Canada is looking set to raise rates again. There's also PMI and confidence numbers due from Australia, New Zealand, and Europe.
(More commentary follows the table)
| Day | Time (GMT) | Code | Event/Release | Forecast | Previous |
| MON | 8:00 | EUR | Euro-Zone Current Account s.a. (euros) (MAY) | -5.1B | |
| MON | 14:00 | USD | NAHB Housing Market Index (JUL) | 16 | 17 |
| TUE | 1:30 | AUD | Reserve Bank of Australia Meeting Minutes | ||
| TUE | 5:00 | JPY | Leading Index (MAY F) | 98.7 | |
| TUE | 6:15 | CHF | Trade Balance (Swiss franc) (JUN) | 0.82B | |
| TUE | 8:30 | GBP | Major Banks Mortgage Approvals (JUN) | 52K | 51K |
| TUE | 8:30 | GBP | Public Finances (PSNCR) (Pounds) (JUN) | 16.0B | 12.0B |
| TUE | 12:30 | USD | Housing Starts (MoM) (JUN) | -2.8% | -10.0% |
| TUE | 12:30 | USD | Housing Starts (JUN) | 577K | 593K |
| TUE | 12:30 | USD | Building Permits (MoM) (JUN) | -0.7% | -5.9% |
| TUE | 12:30 | USD | Building Permits (JUN) | 570K | 574K |
| TUE | 13:00 | CAD | Bank of Canada Interest Rate Decision | 0.75% | 0.50% |
| TUE | 22:45 | NZD | New Zealand Net Migration s.a. (JUN) | 250 | |
| WED | 3:00 | NZD | Credit Card Spending s.a. (MoM) (JUN) | 1.9% | |
| WED | 8:30 | GBP | Bank of England Meeting Minutes | ||
| WED | 14:00 | AUD | NAB Business Confidence (2Q) | 17 | |
| WED | 14:00 | USD | Ben Bernanke Testifies to Senate Banking Panel | ||
| THU | 3:00 | NZD | ANZ Consumer Confidence Index (JUL) | 122 | |
| THU | 4:30 | JPY | All Industry Activity Index (MoM) (MAY) | -0.4% | 1.8% |
| THU | 7:30 | EUR | German PMI Manufacturing (JUL A) | 58.0 | 58.4 |
| THU | 7:30 | EUR | German PMI Services (JUL A) | 54.5 | 54.8 |
| THU | 8:00 | EUR | Euro-Zone PMI Manufacturing (JUL A) | 55.2 | 55.6 |
| THU | 8:00 | EUR | Euro-Zone PMI Services (JUL A) | 55.0 | 55.5 |
| THU | 8:30 | GBP | Retail Sales ex Auto Fuel (YoY) (JUN) | 2.4% | 3.4% |
| THU | 9:00 | EUR | Euro-Zone Industrial New Orders s.a. (MoM) (MAY) | -0.1% | 0.9% |
| THU | 12:30 | CAD | Retail Sales (MoM) (MAY) | 0.5% | -2.0% |
| THU | 13:30 | USD | Ben Bernanke Testifies to House Financial Committee | ||
| THU | 14:00 | USD | Existing Home Sales (MoM) (JUN) | -8.1% | -2.2% |
| THU | 14:00 | USD | Existing Home Sales (JUN) | 5.20M | 5.66M |
| THU | 14:00 | USD | House Price Index (MoM) (MAY) | -0.3% | 0.8% |
| THU | 14:00 | USD | Leading Indicators (JUN) | -0.3% | 0.4% |
| THU | 14:00 | EUR | Euro-Zone Consumer Confidence (JUL A) | -17 | -17 |
| FRI | EUR | EU European Bank Stress Test Results Due | |||
| FRI | 1:30 | AUD | Export Price Index (QoQ) (2Q) | 12.0% | 3.8% |
| FRI | 8:00 | EUR | German IFO - Business Climate (JUL) | 101.5 | 101.8 |
| FRI | 8:00 | EUR | German IFO - Expectations (JUL) | 101.5 | 102.4 |
| FRI | 8:30 | GBP | Gross Domestic Product (YoY) (2Q A) | 1.1% | -0.2% |
| FRI | 8:30 | GBP | Gross Domestic Product (QoQ) (2Q A) | 0.6% | 0.3% |
| FRI | 11:00 | CAD | Consumer Price Index (YoY) (JUN) | 0.9% | 1.4% |
| FRI | 11:00 | CAD | Bank Canada CPI Core (YoY) (JUN) | 1.9% | 1.8% |
One of the main events this week is UK GDP, the first advanced economy to report (with China reporting year on year growth of 10.3% last week in Q2 2010). Expectations are for quarterly growth to accelerate from 0.3% to 0.6%, and year on year growth to improve to 1.1% from -0.2%, as the UK economy struggles along out of its deepest ever recession. The UK is also set to report retail sales for June, with the year on year growth expected to slip slightly.
On the US housing front, housing starts are forecast to ease, and on a year on year basis will still be in negative territory. Building permits are likewise expected to remain subdued. In terms of existing home sales, the figure is expected to drop as the stimulus measures wane, and will likely see the year on year change drop further. The house price index is also expected to drop off month on month in May, versus a small rise in April.
In monetary policy, the Bank of Canada is expected to raise rates again to 0.75% from 0.50% as the risk of inflation rises over the risks of sustaining the recovery for the Canadian economy (one of the lucky developed economies). There is also the meeting minutes due out from the Reserve Bank of Australia, and the Bank of England, and of course in the US, Federal Reserve Chairman Ben Bernanke will be testifying before the Senate Banking Panel, and the House Financial Committee
Elsewhere there's the ANZ consumer confidence index in New Zealand, and the NAB business confidence index in Australia, as well as PMI indexes for July across Europe and the aggregate Euro-Zone index, which is widely expected to weaken slightly.
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/19jul-calendar.html
Canada is not one of the "lucky" economies, we have leaders who shut down crazy lending et al so we wouldnt be in the bog.
ReplyDelete@Stewart ...agreed - that's one of the things they're lucky about, I think it's a similar situation with Aus, there wasn't the same degree of lending madness as in the US (there was some, but not systemically significant).
ReplyDelete