Saturday, December 11, 2010

Economic Calendar - 11 December 2010

Here's the Economic Calendar for the week commencing the 12th of December 2010. This week China dominates the data again, with the monthly main economic indicators on Monday, Money supply and lending on Wednesday, and FDI on Thursday. The Fed meeting is also on this week, and on that note CPI, PPI and capacity utilisation data for the US is also due out. There's also the Swiss National Bank interest rate decision and Japan's quarterly Tankan survey.

(More commentary follows the table)

Date GMT Country/
Currency
Event Forecast Previous
SUN 02:00 CNY Producer Price Index (YoY) (NOV) 5.10% 5.00%
SUN 02:00 CNY Consumer Price Index (YoY) (NOV) 4.70% 4.40%
SUN 02:00 CNY Retail Sales (YoY) (NOV) 18.60% 18.60%
SUN 02:00 CNY Industrial Production (YoY) (NOV) 13.00% 13.10%
SUN 02:00 CNY Fixed Assets Inv Urban YTD YoY (NOV) 24.40% 24.40%
MON 13:30 CAD Capacity Utilization Rate (3Q) 75.80% 76.00%
MON 21:00 NZD REINZ Housing Price Index MoM% (NOV)
-0.90%
MON 21:45 NZD Retail Sales (MoM) (OCT) -0.80% 1.60%
MON 21:45 NZD Retail Sales Ex-Auto (MoM) (OCT) -1.00% 1.60%
MON 04:30 JPY Industrial Production (YoY) (OCT F)

MON 04:30 JPY Industrial Production (MoM) (OCT F)
-1.80%
MON 04:30 JPY Capacity Utilization (MoM) (OCT F)
-1.10%
TUE 06:30 EUR French Consumer Price Index (YoY) (NOV) 1.60% 1.60%
TUE 09:30 GBP Consumer Price Index (MoM) (NOV) 0.30% 0.30%
TUE 09:30 GBP Consumer Price Index (YoY) (NOV) 3.20% 3.20%
TUE 09:30 GBP Core Consumer Price Index (YoY) (NOV) 2.70% 2.70%
TUE 10:00 EUR Euro-Zone Industrial Production w.d.a. (YoY) 7.60% 5.40%
TUE 10:00 EUR Euro-Zone Industrial Production s.a. (MoM) 1.30% -0.80%
TUE 13:30 USD Producer Price Index (MoM) (NOV) 0.50% 0.40%
TUE 13:30 USD Producer Price Index (YoY) (NOV) 3.30% 4.30%
TUE 13:30 USD PPI Ex Food & Energy (YoY) (NOV) 1.20% 1.50%
TUE 13:30 USD Advance Retail Sales (NOV) 0.60% 1.20%
TUE 13:30 USD Retail Sales Less Autos (NOV) 0.70% 0.40%
TUE 13:30 USD Retail Sales Excluding Auto & Gas (NOV) 0.60% 0.40%
TUE 19:15 USD FOMC Rate Decision 0.25% 0.25%
TUE 23:50 JPY Tankan Large Manufacturers Index (4Q) 3.00 8.00
TUE 23:50 JPY Tankan Non-Manufacturing Index (4Q) 0.00 2.00
TUE 23:50 JPY Tankan Large Manufacturers Outlook (4Q) 0.00 -1.00
TUE 23:50 JPY Tankan Non-Manufacturing Outlook (4Q) -3.00 -2.00
TUE 23:50 JPY Tankan Large All Industry Capex (4Q) 2.60% 2.40%
TUE 02:00 CNY Conference Board China Leading Index

WED 05:00 CNY Money Supply - M0 (YoY) (NOV)
16.60%
WED 05:00 CNY Money Supply - M1 (YoY) (NOV) 21.60% 22.10%
WED 05:00 CNY Money Supply - M2 (YoY) (NOV) 19.20% 19.30%
WED 05:00 CNY New Yuan Loans (NOV) 550.0B 587.7B
WED 09:30 GBP Jobless Claims Change (NOV) -3.0K -3.7K
WED 13:30 USD CPI Ex Food & Energy (YoY) (NOV) 0.60% 0.60%
WED 13:30 USD Consumer Price Index (YoY) (NOV) 1.10% 1.20%
WED 14:15 USD Capacity Utilization (NOV) 75.0.% 74.80%
WED 14:15 USD Industrial Production (NOV) 0.30% 0.00%
THU 05:00 CNY Actual FDI (YoY) (NOV) 10.80% 7.90%
THU 08:15 CHF Industrial Production (YoY) (3Q) 5.00% 7.80%
THU 08:30 CHF Swiss National Bank Rate Decision 0.25% 0.25%
THU 09:00 EUR Italian Consumer Price Index (YoY) (NOV F) 1.80% 1.80%
THU 09:30 GBP Retail Sales (YoY) (NOV) 1.40% 1.20%
THU 09:30 GBP Retail Sales with Auto Fuel (YoY) (NOV) 0.70% -0.10%
THU 10:00 EUR Euro-Zone CPI - Core (YoY) (NOV) 1.10% 1.10%
THU 10:00 EUR Euro-Zone Consumer Price Index (YoY) 1.90% 1.90%
THU 13:30 USD Housing Starts (NOV) 550K 519K
THU 13:30 USD Building Permits (NOV) 558K 552K
THU 13:30 USD Current Account Balance (3Q) -$126.0B -$123.3B
THU 13:30 USD Housing Starts (MoM) (NOV) 6.00% -11.70%
THU 13:30 USD Housing Starts (NOV)
519K
FRI 10:00 EUR Euro-Zone Trade Balance (euros) (OCT) 2.5B 2.9B
FRI 10:00 EUR Euro-Zone Construction Output (YoY) (OCT)
-8.10%
FRI 15:00 USD Leading Indicators (NOV) 1.10% 0.50%

As noted China dominates this week, first up is the main economic indicators for November; CPI inflation is expected to come in at 4.70% and given the People's Bank of China raised the RRR again on Friday it will probably be a high figure. Also out is retail sales, industrial production, and fixed asset investment - all expected to come in at similar levels to October. On the monetary stats, M2 & M1 are both expected to grow around 20%, and new loans is likely to come in over 500 billion yuan, pushing through the 7.5 trillion quota. Foreign direct investment is also expected to pick up.

Over to the US, the FOMC meets on Tuesday and there shouldn't be any surprises, as always keep a close eye on what they say, especially around alterations to quantitative easing. Inflation is expected to slow further to 1.1% yoy, on a CPI basis with core flat, on a PPI basis consensus is for further drops, and capacity utilisation likely little changed. So the challenge of raising inflation remains for the Fed, should they be doing more?

Elsewhere, the Tankan survey from Japan will be one to catch as a good gauge on how the Japanese economy is tracking through the 4th quarter. Other notables are UK CPI (expect flat), EU industrial production (slight pick up), US retail sales (core up), Swiss National Bank (no change), US housing starts (slight improvement), and a handful of others (see the table above).

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/12dec-calendar.html

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