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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