Economic Calendar - 19 Dec 2010

Here's the Economic Calendar for the week commencing the 19th of December 2010. This week there's New Zealand Q3 GDP results, as well as further revisions to the Q3 GDP results from the UK and US, New Zealand also puts out its 3rd quarter current account data. On the monetary policy front, the Bank of Japan will review policy, and the RBA and BoE will release minutes from their recent policy meetings. Elsewhere there's Canadian CPI, Japanese exports, and US consumer sentiment numbers.

(More commentary follows the table)

Date	GMT	Country/ Currency	Event	Forecast	Previous
MON	09:00	EUR	Euro-Zone Current Account n.s.a. (OCT)		-9.2B
MON	09:00	EUR	Euro-Zone Current Account s.a. (OCT)		-13.1B
MON	15:00	EUR	Euro-Zone Consumer Confidence (DEC A)	-9.00	-9.40
MON	21:45	NZD	New Zealand Net Migration SA (NOV)		680.00
MON	00:30	AUD	Reserve Bank's Board December Minutes
MON	04:30	JPY	All Industry Activity Index (MoM) (OCT)	-0.20%	-0.80%
TUE	05:00	JPY	Bank of Japan Rate Decision (DEC)	0.10%	0.10%
TUE	07:15	CHF	Trade Balance (Swiss franc) (NOV)		2.10B
TUE	09:30	GBP	Public Finances (PSNCR) (Pounds) (NOV)	12.3B	2.4B
TUE	09:30	GBP	Public Sector Net Borrowing (Pounds) (NOV)	16.8B	9.8B
TUE	12:00	CAD	Consumer Price Index (YoY) (NOV)	2.30%	2.40%
TUE	12:00	CAD	Bank Canada CPI Core (YoY) (NOV)	1.60%	1.80%
TUE	13:30	CAD	Retail Sales (MoM) (OCT)	0.50%	0.60%
TUE	13:30	CAD	Retail Sales Less Autos (MoM) (OCT)	0.70%	0.40%
TUE	21:45	NZD	Current Account Balance (3Q)	-2.304B	-0.880B
TUE	21:45	NZD	Current Account Deficit-GDP Ratio (3Q)	-3.40%	-3.00%
TUE	23:50	JPY	Merchandise Trade Balance Total (NOV)	¥481.7B	¥821.3B
TUE	23:50	JPY	Adjusted Merchandise Trade Balance (NOV)	¥626.3B	¥578.5B
TUE	23:50	JPY	Merchandise Trade Exports (YoY) (NOV)	10.30	7.80
TUE	23:50	JPY	Merchandise Trade Imports (YoY) (NOV)	9.00	8.80
WED	09:30	GBP	Total Business Investment (QoQ) (3Q F)	-0.20%	-0.20%
WED	09:30	GBP	Gross Domestic Product (QoQ) (3Q F)	0.80%	0.80%
WED	09:30	GBP	Gross Domestic Product (YoY) (3Q F)	2.80%	2.80%
WED	09:30	GBP	Bank of England Minutes (DEC)
WED	09:30	GBP	Total Business Investment (YoY) (3Q F)	4.60%	4.60%
WED	13:30	USD	Gross Domestic Product (Annualized) (3Q T)	2.80%	2.50%
WED	13:30	USD	Gross Domestic Product Price Index (3Q T)	2.30%	2.30%
WED	15:00	USD	House Price Index (MoM) (OCT)	-0.10%	-0.70%
WED	15:00	USD	Existing Home Sales (NOV)	4.75M	4.43M
WED	21:45	NZD	Gross Domestic Product (QoQ) (3Q)	0.10%	0.20%
WED	21:45	NZD	Gross Domestic Product (YoY) (3Q)	1.80%	1.90%
THU	13:30	CAD	Gross Domestic Product (MoM) (OCT)	0.30%	-0.10%
THU	13:30	USD	Personal Income (NOV)	0.30%	0.50%
THU	13:30	USD	Durable Goods Orders (NOV)		-3.30%
THU	13:30	USD	Durables Ex Transportation (NOV)		-2.70%
THU	13:30	USD	Personal Spending (NOV)	0.50%	0.40%
THU	13:30	USD	Personal Consumption Expenditure Deflator		1.30%
THU	13:30	USD	Initial Jobless Claims (DEC 18)	420K	420K
THU	13:30	USD	Personal Consumption Expenditure Core	0.90%	0.90%
THU	14:55	USD	U. of Michigan Confidence (DEC F)	74.50	74.20
THU	15:00	USD	New Home Sales (NOV)	300K	283K

As noted, New Zealand will release its Q3 GDP results this week, with expectations for a slight slowing of growth to about 0.10% q/q or 1.8% y/y. The US and UK will also announce further revisions to their Q3 GDP results, with the US expected to slightly revise up its results. Canada will also release its monthly GDP stats for October.

On Monetary Policy the Bank of Japan is set to meet early this week, with no expectations for interest rate changes, and a low chance of other adjustments - but it will be worth keeping an eye on as the Tankan results were less than impressive. There's also the monetary policy meeting minutes from the Reserve Bank of Australia and the Bank of England. The Bank of England notes will be worth a look as the BoE does not include much details in their initial rate announcements.

Elsewhere, there's CPI data due out of Canada, with a slight slowing of inflation expected; then there's Japan merchandise trade data for November with improvements expected; the US has existing home sales and new home sales data out; and the US also has the University of Michigan consumer sentiment survey results out for December.

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/19dec-calendar.html