Here's the Economic Calendar for the week commencing the 4th of October 2010. This week the main events are in the monetary policy and employment space. Firs up there's Japan with its monthly monetary policy meeting, then the RBA in Australia is expected to re-commence tightening, then the ECB and Bank of England meet on Thursday. On the employment front there's data from Australia, Canada, and the US with the much watched non-farm payrolls report. Also this week, the IMF will release its World Economic Outlook forecasts and commentary on Wednesday, shortly before the IMF annual meetings kick off in the coming weekend.
(More commentary follows the table)
| Day | Time (GMT) | Code | Event/Release | Forecast | Previous |
| MON | EUR | 09:00 | Euro-Zone Producer Price Index (YoY) (AUG) | 3.7% | 4.0% |
| MON | USD | 14:00 | Pending Home Sales (YoY) (AUG) | -20.1% | |
| MON | USD | 14:00 | Factory Orders (AUG) | 0.0% | 0.1% |
| MON | JPY | Bank of Japan Rate Decision (OCT 5) | 0.10% | 0.10% | |
| MON | AUD | 00:30 | Retail Sales s.a. (MoM) (AUG) | 0.4% | 0.7% |
| MON | AUD | 00:30 | Trade Balance (Australian dollar) (AUG) | 2300M | 1888M |
| MON | AUD | 03:30 | Reserve Bank of Australia Rate Decision | 4.75% | 4.50% |
| TUE | CHF | 07:15 | Consumer Price Index (YoY) (SEP) | 0.3% | 0.3% |
| TUE | EUR | 07:55 | German PMI Services (SEP F) | 54.6 | 54.6 |
| TUE | EUR | 08:00 | Euro-Zone PMI Services (SEP F) | 53.6 | 53.6 |
| TUE | EUR | 08:00 | Euro-Zone PMI Composite (SEP F) | ||
| TUE | GBP | 08:30 | Purchasing Manager Index Services (SEP) | 51.0 | 51.3 |
| TUE | EUR | 09:00 | Euro-Zone Retail Sales (YoY) (AUG) | 1.1% | |
| TUE | USD | 14:00 | ISM Non-Manufacutring Composite (SEP) | 52.0 | 51.5 |
| TUE | USD | 21:00 | ABC Consumer Confidence (OCT 3) | -46 | |
| WED | EUR | 09:00 | Euro-Zone GDP s.a. (YoY) (2Q F) | 1.9% | |
| WED | EUR | 09:00 | Euro-Zone GDP s.a. (QoQ) (2Q F) | 1.0% | 1.0% |
| WED | EUR | 10:00 | German Factory Orders s.a. (MoM) (AUG) | 1.0% | -2.2% |
| WED | USD | 12:15 | ADP Employment Change (SEP) | 20K | -10K |
| WED | CAD | 14:00 | Ivey Purchasing Managers Index (SEP) | 62.0 | 65.9 |
| WED | GBP | NIESR GDP Estimate (SEP) | 0.7% | ||
| WED | AUD | 00:30 | Employment Change (SEP) | 20.0K | 30.9K |
| WED | AUD | 00:30 | Unemployment Rate (SEP) | 5.1% | 5.1% |
| THU | GBP | 08:30 | Industrial Production (YoY) (AUG) | 4.2% | 1.9% |
| THU | EUR | 10:00 | German Industrial Production (YoY) (AUG) | 10.9% | |
| THU | GBP | 11:00 | Bank of England Rate Decision (OCT 7) | 0.50% | 0.50% |
| THU | GBP | 11:00 | Bank of England Asset Purchase Target | 200B | 200B |
| THU | EUR | 11:45 | European Central Bank Rate Decision (OCT) | 1.00% | 1.00% |
| THU | USD | 12:30 | Initial Jobless Claims (OCT 2) | 453K | 453K |
| THU | USD | 19:00 | Consumer Credit (AUG) | -$3.0B | -$3.6B |
| THU | CNY | 02:30 | China HSBC Services PMI (SEP) | 57.6 | |
| FRI | EUR | 06:00 | German Exports s.a. (MoM) (AUG) | -0.8% | -1.6% |
| FRI | EUR | 06:00 | German Imports s.a. (MoM) (AUG) | 0.4% | -2.2% |
| FRI | GBP | 08:30 | Producer Price Index Input n.s.a. (YoY) (SEP) | 8.6% | 8.1% |
| FRI | GBP | 08:30 | PPI Output Core n.s.a. (YoY) (SEP) | 4.3% | 4.6% |
| FRI | CAD | 11:00 | Net Change in Employment (SEP) | 10.0K | 35.8K |
| FRI | CAD | 11:00 | Unemployment Rate (SEP) | 8.0% | 8.1% |
| FRI | USD | 12:30 | Change in Non-farm Payrolls (SEP) | 5K | -54K |
| FRI | USD | 12:30 | Average Hourly Earning All Employees (MoM) | 0.2% | 0.3% |
| FRI | USD | 12:30 | Change in Private Payrolls (SEP) | 82K | 67K |
| FRI | USD | 12:30 | Unemployment Rate (SEP) | 9.7% | 9.6% |
| FRI | USD | 12:30 | Average Weekly Hours All Employees (SEP) | 34.2 | 34.2 |
| All | IMF Meetings |
Starting off with the monetary policy events, the Bank of Japan of course wont touch interest rates, if anything they might look to do additional stimulus to get the economy moving and attack the persistent deflation problem - it will also be interesting to see what they say about the yentervention . The Reserve Bank of Australia will also come firmly into the spotlight as the consensus is growing toward seeing another interest rate increase... remember this time last year it kicked off the tightening cycle - dejavu anyone? The ECB probably wont do much, but it always puts out some insightful commentary, and the Bank of England could well release more stimulus - in preference of addressing the economic growth risks vs the inflation risks.
On the jobs front, Australia is up first, and is expected to show jobs growth around 20k vs 30.9k in August, as the lucky country's economy goes from strength to strength on the back of a strong resources sector that is likely to only grow in strength (as long as commodity prices stay right... and the Aussie dollar for that matter). In Canada it's a similar story, the resources sector is going strong and jobs growth is expected to come in at 10k vs 35.8k in August. Meanwhile in the US, consensus is for about 5k on the headline payrolls figure vs -54k in Aug, while the private payrolls number is expected to be about 82k vs 67k in Aug... still nothing to write home about in the context of the net negative jobs growth over the past decade.
Elsewhere there's a few data points out on Germany this week including the PMI numbers, factory orders (expected to increase), industrial production, and exports and imports data. There's also producer price index info from the EU and UK. Also among the remaining PMI data to be released this week for September, there's the US non-manufacturing composite, and the China HSBC services PMI; both of which will be critical data points to be across in terms of monitoring the two largest economies. In the US there's also consumer credit data due out for August, as well as pending home sales and the ABC consumer confidence index.
Another interesting feature of this week will be the IMF (International Monetary Fund), with the respected World Economic Outlook due to be released on Wednesday, and the IMF annual meetings in the coming weekend. While its unlikely to be too much more than a talk-fest, it will be worth monitoring what they have to say.
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/4oct-calendar.html
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