Economic Calendar - 28 November 2010

Here's the Economic Calendar for the week commencing the 28th of November 2010. This week December starts! So the PMI data will start flowing with releases expected from China, Japan, the US, and the EU, among others. There's also some more GDP data out this week with Australia, Canada, and Switzerland announcing their Q3 results. In the US there's the S&P/Case-Shiller house price index, consumer confidence, nonfarm payrolls, and the Beige Book from the Fed.

(More commentary follows the table)

Day	GMT	Country/ Currency	Event	Forecast	Previous
SUN	21:45	NZD	Trade Balance [New Zealand dollars] [OCT]	-400M	-532M
SUN	21:45	NZD	Exports [New Zealand dollars] [OCT]	3.31B	3.16B
SUN	21:45	NZD	Imports [New Zealand dollars] [OCT]	3.78B	3.69B
SUN	23:50	JPY	Retail Trade [YoY] [OCT]	0.70%	1.40%
SUN	02:00	NZD	NBNZ Business Confidence [NOV]		23.70
MON	10:00	EUR	Euro-Zone Business Climate Indicator [NOV]	1.05	0.98
MON	10:00	EUR	Euro-Zone Consumer Confidence [NOV F]	-10.00	-10.00
MON	10:00	EUR	Euro-Zone Economic Confidence [NOV]	105.00	104.10
MON	10:00	EUR	Euro-Zone Industrial Confidence [NOV]	2.00	0.00
MON	10:00	EUR	Euro-Zone Services Confidence [NOV]	9.00	8.00
MON	13:30	CAD	Current Account [BoP] [Canadian dollar] [3Q]	-$15.2B	-$11.0B
MON	23:30	JPY	Jobless Rate [OCT]	5.00%	5.00%
MON	23:50	JPY	Industrial Production [MoM] [OCT P]	-3.20%	-1.60%
MON	23:50	JPY	Industrial Production [YoY] [OCT P]	3.10%	11.50%
MON	00:30	AUD	Current Account Balance [Australian Dollar] [3Q]	-6600M	-5640M
TUE	05:00	JPY	Housing Starts [YoY] [OCT]	9.70%	17.70%
TUE	05:00	JPY	Annualized Housing Starts [OCT]	0.840M	0.837M
TUE	05:00	JPY	Nomura/JMMA Manufacturing PMI [NOV]		47.20
TUE	08:55	EUR	German Unemployment Change [NOV]	-20K	-3K
TUE	10:00	EUR	Euro-Zone CPI Estimate [YoY] [NOV]	1.90%	1.90%
TUE	10:00	EUR	Euro-Zone Unemployment Rate [OCT]	10.10%	10.10%
TUE	11:00	EUR	Italian Unemployment Rate s.a. [OCT]	8.40%	8.30%
TUE	13:30	CAD	Gross Domestic Product [MoM] [SEP] [SEP]	0.10%	0.30%
TUE	13:30	CAD	Quarterly GDP Annualized [3Q]	1.50%	2.00%
TUE	14:00	USD	S&P/Case-Shiller Composite-20 [YoY] [SEP]	1.00%	1.70%
TUE	14:00	USD	S&P/Case-Shiller US Home Price Index [YoY]		3.60%
TUE	14:00	USD	S&P/Case-Shiller 20 City [MoM] s.a. [SEP]	-0.40%	-0.28%
TUE	15:00	USD	Consumer Confidence [NOV]	52.70	50.20
TUE	00:30	AUD	Gross Domestic Product [QoQ] [3Q]	0.50%	1.20%
TUE	00:30	AUD	Gross Domestic Product [YoY] [3Q]	3.40%	3.30%
TUE	01:00	CNY	PMI Manufacturing [NOV]	54.80	54.70
TUE	02:00	NZD	ANZ Commodity Price [NOV]		2.90%
TUE	02:30	CNY	HSBC Manufacturing PMI [NOV]	55.40	54.80
WED	07:00	GBP	Nationwide House Prices n.s.a. [YoY] [NOV]		1.40%
WED	07:00	GBP	Nationwide House Prices s.a. [MoM] [NOV]	-0.40%	-0.70%
WED	08:45	EUR	Italian PMI Manufacturing [NOV]	53.10	53.00
WED	08:50	EUR	French PMI Manufacturing [NOV F]	57.50	57.50
WED	08:55	EUR	German PMI Manufacturing [NOV F]	58.90	58.90
WED	09:00	EUR	Euro-Zone PMI Manufacturing [NOV F]	55.50	55.50
WED	09:30	GBP	Purchasing Manager Index Manufacturing [NOV]	54.70	54.90
WED	13:30	USD	Non-Farm Productivity [3Q] F	2.30%	1.90%
WED	13:30	USD	Unit Labor Costs [3Q F] [3Q] F	-0.20%	-0.10%
WED	15:00	USD	ISM Manufacturing [NOV]	56.50	56.90
WED	15:00	USD	Construction Spending [MoM] [OCT]	-0.40%	0.50%
WED	19:00	USD	Fed's Beige Book [DEC]
WED	00:30	AUD	Trade Balance [Australian dollar] [OCT]	2000M	1760M
WED	00:30	AUD	Retail Sales s.a. [MoM] [OCT]	0.40%	0.30%
THU	06:45	CHF	Gross Domestic Product [YoY] [3Q]	3.10%	3.40%
THU	06:45	CHF	Gross Domestic Product [QoQ] [3Q]	0.50%	0.90%
THU	08:15	CHF	Retail Sales [Real] [YoY] [OCT]		4.10%
THU	09:30	GBP	Purchasing Manager Index Construction [NOV]	51.30	51.60
THU	10:00	EUR	Euro-Zone Gross Domestic Product [QoQ] [3Q]	0.40%	0.40%
THU	10:00	EUR	Euro-Zone Gross Domestic Product [YoY] [3Q]	1.90%	1.90%
THU	10:00	EUR	Euro-Zone Producer Price Index [MoM] [OCT]	0.30%	0.30%
THU	10:00	EUR	Euro-Zone Producer Price Index [YoY] [OCT]	4.30%	4.20%
THU	12:45	EUR	European Central Bank Rate Decision [DEC]	1.00%	1.00%
THU	15:00	USD	Pending Home Sales [MoM] [OCT]	-1.00%	-1.80%
THU	15:00	USD	Pending Home Sales [YoY] [OCT]		-24.90%
THU	01:00	CNY	China Non-manufacturing PMI [NOV]		60.50
THU	02:30	CNY	China HSBC Services PMI [NOV]		56.40
FRI	05:00	EUR	German Retail Sales [MoM] [OCT]	1.20%	-1.70%
FRI	05:00	EUR	German Retail Sales [YoY] [OCT]	1.30%	0.40%
FRI	08:15	CHF	Consumer Price Index [MoM] [NOV]	0.10%	0.50%
FRI	08:15	CHF	Consumer Price Index [YoY] [NOV]	0.10%	0.20%
FRI	09:00	EUR	Euro-Zone PMI Composite [NOV F]	55.40	55.40
FRI	09:00	EUR	Euro-Zone PMI Services [NOV F]	55.20	55.20
FRI	10:00	EUR	Euro-Zone Retail Sales [MoM] [OCT]	0.20%	-0.20%
FRI	10:00	EUR	Euro-Zone Retail Sales [YoY] [OCT]	1.00%	1.30%
FRI	12:00	CAD	Net Change in Employment [NOV]	20.0K	3.0K
FRI	12:00	CAD	Unemployment Rate [NOV]	7.90%	7.90%
FRI	13:30	USD	Change in Private Payrolls [NOV]	153K	159K
FRI	13:30	USD	Change in Non-farm Payrolls [NOV]	142K	151K
FRI	13:30	USD	Unemployment Rate [NOV]	9.60%	9.60%
FRI	15:00	USD	ISM Non-Manufacutring Composite [NOV]	54.70	54.30
FRI	15:00	USD	Factory Orders [OCT]	-1.00%	2.10%

As noted it will be a big week for PMI (Purchasing Manager's Index) data releases. As can be seen in the table, results are due from the US, China, Japan, and throughout the EU. The results will provide a timely update, especially for the China and US results. I will be watching these two in particular very closely and will put out updates throughout the week. Consensus forecasts are picking a bit of an increase in China, and flat in the US, watch this space.

Australia will announce its 3rd quarter GDP result on Tuesday, with consensus picking slightly slower quarterly growth, and stronger year on year growth. Canada will also provide an update on its GDP results as will Switzerland and the wider EU. The EU is not expected to make an large revisions to its Q3 GDP results, but it will be worth a look, particularly on a country-by-country basis.

On the monetary policy front the European Central Bank meets on Thursday, and as usual the rate likely wont be moving, but it will be interesting to see what the ECB says given the rumblings in the EU sovereigns markets. As noted, the US Fed also releases the Beige book economic report this week, which will be interesting in light of the Fed's recent launch of QEII. Elsewhere in the world, Pakistan reviews rates on Monday, Thailand on Wednesday, and Indonesia on Friday; expecting only changes from Pakistan.

Apart from PMI, GDP, and monetary policy, some of the other interest data points out this week include: Japan industrial production (expected to slow), EU CPI and unemployment rate (expect little change), S&P Case-Shiller house price index (expect a monthly decline in Sep), US consumer confidence (expect an improvement), and of course US employment data for November with nonfarm payrolls expected to expand by a similar amount as October, and no change to the unemployment rate.

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

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