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Week In Focus; week commencing 8 October 2018

Sunday: Brazilian Election

Monday: Chinese Caixin Services PMI, Eurozone Sentiment Index

Tuesday: Japanese Current Account

Wednesday: Australian GDP, US PPI, UK Monthly GDP, Production & Trade Balance

Thursday: US CPI, Japanese PPI, ECB Minutes

Friday: Eurozone Industrial Production, Chinese Trade Balance, Pastor Brunson court decision, US Banks kick off US earnings season

ITALIAN BUDGET

Last week...

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Key Events

Monday: Eurozone CPI

Tuesday: N/A

Wednesday: BoJ Interest Rate Decision, UK CPI, New Zealand GDP

Thursday: SNB Interest Rate Decision, Norges Bank Interest Rate Decision, EU leaders expected to discuss Brexit

Friday: Japan CPI, Eurozone Markit Manufacturing, Services and Composite PMIs (Flash), Canada CPI

Sunday: JMMC meeting in...

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Week In Focus:

Key Events

Sunday: Swedish election

Monday: Japan GDP (Revised), China CPI, Norway CPI, UK Monthly GDP (Jul)

Tuesday: OPEC and non-OPEC technical committee to meet, UK Jobs Data, Germany ZEW Survey

Wednesday: Eurozone Employment, OPEC Monthly Oil Market Report

Thursday: ECB Interest Rate Decision, BoE Interest Rate Decision, CBRT Interest Rate Decision,...

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Key Events

Monday: UK Market Holiday, German Ifo Survey

Tuesday: US Trade Balance

Wednesday: French GDP, US GDP (2nd Reading), US Pending Home Sales

Thursday: German Labour Market, German CPI (Prelim), US PCE, Canadian GDP (Quarterly)

Friday: Japan Labour Market, Tokyo CPI, China PMI, EZ CPI (Prelim)

TRADE

The US trade war continues to be...

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Key Events

Monday: German PPI

Tuesday: RBA Minutes

Wednesday: NZ Retail Sales, Canadian Retail Sales, US Existing Home Sales, FOMC Minutes

Thursday: Norway GDP, EZ PMI (Flash), ECB Minutes, Fed’s Jackson Hole Symposium begins, US PMI (Flash), US tariffs on USD 16bln of Chinese goods take effect

Friday: NZ Trade Balance, Japan CPI, German GDP (2nd reading), US Durable...

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Key Events

Monday: North and South Korea to hold “high-level” talks

Tuesday: China Industrial Production, German ZEW Survey, German & EZ GDP, UK Labour Market, Home Depot earnings

Wednesday: UK CPI, US Retail Sales, US Industrial Production, Cisco earnings

Thursday: Australian Labour Market, Norges Bank Rate Decision, UK Retail Sales, US Housing Starts & Building Permits, Walmart...

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Monday: German Factory Orders

Tuesday: RBA Rate Decision, German Industrial Production, US JOLTs

Wednesday: China Trade Balance

Thursday: RBNZ Rate Decision, China CPI, US PPI, US and Japan to hold bilateral trade talks

Friday: Japan GDP, Norway CPI, Swedish CPI, UK GDP, US CPI, Canadian Labour Market

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Key Events

Monday: Swedish GDP, German CPI (Prelim), US Pending Home Sales

Tuesday: Japan Labour Market, China PMI, BoJ Decision, German Labour Market, EZ CPI, EZ GDP, US PCE, Canadian GDP, US SOMA Redemptions, Apple Earnings

Wednesday: NZ Labour Market, EZ Manufacturing PMI, UK Manufacturing PMI, US ADP Employment Change, US Quarterly Refunding Announcement, US ISM Manufacturing, FOMC Decision, Brazil Rate...

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Monday: US Existing Home Sales

Tuesday: EZ & US Manufacturing & Services PMIs (Flash)

Wednesday: AU CPI, GE IFO Survey, US New Home Sales, EU’s Juncker visits the US

Thursday: ECB Decision, US Durable Goods

Friday:  Tokyo CPI, US GDP (Prelim reading)

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Key Events

Monday: Chinese GDP, Trump/Putin Summit, US Retail Sales

Tuesday: NZ CPI, RBA Minutes, UK Labour Market, US Industrial Production, US TIC Flows, Fed Chair Powell’s Semi-Annual Testimony

Wednesday: UK CPI, EZ CPI (Final), US Housing Starts & Building Permits

Thursday: Australian Labour Market, UK Retail Sales

Friday: Japanese CPI, Canadian...

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Monday: German Trade Balance

Tuesday: German ZEW Survey, UK Industrial Production, UK GDP (Monthly)

Wednesday: BoC Interest Rate Decision & MPR, US PPI

Thursday: US CPI, German CPI (Final), ECB Minutes

Friday: Chinese Trade Balance, JPM, Wells Fargo and Citi report earnings

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Central Banks

At the June meeting the Fed expectedly hiked interest rates by 25bps, however, the median now sees four hikes in 2018 from three previously. The decision was perceived as relatively hawkish as the Fed also dropped their reference that it expected interest rates to be below neutral for “some time”. Nevertheless, markets are still not fully believing the Fed and pricing for four rate hikes this year stands below 50%. Markets will be looking out for comments in...

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Key Events

Sunday: Turkish General Election

Monday: German IFO

Tuesday: N/A

Wednesday: BoE Governor Carney speaks, US Durable Goods, Trade Balance

Thursday: RBNZ Rate Decision, German CPI (Prelim), US GDP (Final), EU Summit

Friday: Japan Labour Market, German Labour Market, UK GDP (Final), EZ CPI, US PCE, Canadian GDP (monthly)  

Key Events 

  • Monday: ECB Forum on Central Banking begins
  • Tuesday: RBA Minutes
  • Wednesday: BoJ Minutes, Brazil Rate Decision
  • Thursday: BoE Rate Decision, SNB Rate Decision, Norges Bank Rate Decision, Banxico Rate Decision, Eurogroup Meeting
  • Friday: Japan CPI, OPEC Meeting, EZ PMIs, Canadian CPI 

Global 

On 21 June, the JMMC will meet ahead of OPEC’s 174 the Meeting on 22 June, and then a...

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Key Events

  • Monday: Nothing major of note
  • Tuesday: Brexit votes in the House of Commons, UK Labour Market, US CPI, US-North Korea Summit
  • Wednesday: UK CPI, FOMC Rate Decision
  • Thursday: Australian Labour Market, ECB Rate Decision
  • Friday:  EZ CPI (Final), BoJ Rate Decision

Politics

On Tuesday, UK Parliament is...

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Key Events

  • Monday: UK Markit/CIPS Construction PMI
  • Tuesday: Japanese Services PMI, Caixin Services PMI, RBA Rate Decision, EZ Markit Services and Manufacturing PMI,
  • US ISM Non-Manufacturing, UK Markit/CIPS Services PMI
  • Wednesday: Australian GDP
  • Thursday: EZ GDP (3rd Reading)
  • Friday: Japanese GDP, Canadian Jobs Data, G7 meeting in Canada
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Key Events

  • Monday: US and UK Market Holiday
  • Tuesday: Japan Labour Market
  • Wednesday: Sweden GDP, German Labour Market, ADP Employment Change, US GDP (2nd reading), BoC Rate Decision
  • Thursday: Australian CAPEX, China Official PMIs, Swiss GDP, EZ CPI, EZ Unemployment, US PCE, Canadian GDP
  • Friday: China Caixin Manufacturing PMI, EZ Manufacturing PMIs, UK Manufacturing PMI, US NFP, US ISM Manufacturing 
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Key Events

  • Monday: NZ Retail Sales
  • Tuesday: UK/EU Brexit Talks
  • Wednesday: Eurozone PMIs (Flash), UK CPI, FOMC Minutes
  • Thursday: NZ Trade Balance, German GDP, UK Retail Sales, ECB Minutes, Eurogroup Meeting
  • Friday: Tokyo CPI, UK GDP (2nd reading), US Durable Goods, Fed’s Powell & BoE’s Carney speak

North America

FOMC May Meeting Minutes: The Fed kept rates unchanged at 1.50-1.75%,...

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Key Events

Sunday: Deadline to form Italian government

Monday: OPEC Monthly Report

Tuesday: RBA Minutes, UK Labour Market Data, German ZEW, EZ GDP (2nd reading), US Retail Sales, US TIC Flows

Wednesday: Japan GDP (Prelim), EZ CPI (Final), US Building Permits, Housing Starts, Industrial Production

Thursday: Australia Labour Market Data

Friday:  Japan CPI, Canada CPI

 

North America

NAFTA DEAL (soft ‘deadline’ 17...

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Key Events

Monday: BoJ Minutes

Tuesday: China Trade Balance, Fed’s Powell scheduled to speak

Wednesday: US PPI

Thursday: BoE Rate Decision & QIR, RBNZ Rate Decision (Wednesday evening UK time), China CPI, US CPI

Friday: Canadian Labour Market data

 

North America

Data releases are thin from North America in the week, with inflation in focus in the US and labour market data from Canada. Headline US CPI is expected to increase...

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Key Events

 

Monday:

 

Tuesday: UK Inflation (Jan)

 

Wednesday: Japanese GDP (Q4), US CPI (Jan)

 

Thursday: Riksbank MonPol Decision, Australian Labour Market Report (Jan)

 

Friday:

 

North America

 

The US docket centres on Wednesday’s releases. January’s headline CPI is...

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Key Events

 

Monday: Brexit Negotiations Round Begins

 

Tuesday: RBA Monetary Policy Decision, UK Services PMI (Jan)

 

Wednesday: New Zealand Labour Market Report (Q4)

 

Thursday: BoE Monetary Policy Decision & QIR, RBNZ Monetary Policy Decision, Chinese Trade Balance (Jan)

 

Friday: Canadian Labour Market Report (Jan), RBA Statement on Monetary...

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Key Events

 

Monday:

 

Tuesday: Eurozone GDP (Q4, P)

 

Wednesday: FOMC MonPol Decision, Canadian GDP (Nov), Eurozone CPI (Jan, P), Australian CPI (Q4)

 

Thursday:

 

Friday: US Labour Market Report (Jan)

 

North America

 

Monday will bring the release of the US PCE price index, alongside the...

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Key Events

 

Monday:

 

Tuesday: Bank of Japan MonPol Decision

 

Wednesday:

 

Thursday: ECB MonPol Decision, UK Labour Market Report (Nov/Dec), New Zealand CPI (Q4), Norges Bank MonPol Decision

 

Friday: US GDP (Q4, A), UK GDP (Q4, A)

 

Focus in the early part of the week is set to...

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Key Events

 

Monday:

 

Tuesday:

 

Wednesday: BoC MonPol Decision

 

Thursday: Chinese GDP (Q4), UK Inflation Data (Dec), Australian Labour Market Report

 

Friday:

 

North America

 

The US will observe Martin Luther King Day on Monday, which will lead to lower liquidity conditions at the...

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