Most commodities tumbled down last week, while USD recovered against leading currencies mainly against the Euro after the recent ECB rate decision. This week, in the U.S several economic reports will be released including JOLTS, retail sales, consumer sentiment, and jobless claims. In Europe, EU and France’s industrial production will be released. GB’s manufacturing production and BOE’s Carney will speak. China’s CPI, new loans and trade balance report will come out. So let’s break down the economic outlook for the week of September 8th to 12th:
(All times GMT):
Monday, September 8th
00:50 – Japan’s Current Account: This report will show the changes in the difference between imported and exported goods, services, and income flows. It could provide an indication to the progress of the Japanese economy. In the past monthly update the surplus in the current account dropped to 0.13 trillion yen;
Tentative – China’s Trade Balance: According to the last monthly report, China’s trade balance grew to a $47.3 billion surplus; if the surplus expands further, it could indicate China’s economy is improving and may positively affect commodities prices;
Tuesday, September 9th
00:50 – Bank of Japan’s Monetary Policy Meeting Minutes: The minutes of BOJ’s monetary policy meeting could offer some insight behind its past meeting;
09:30 – Great Britain Manufacturing Production: This report will present the annual rate of GB’s manufacturing production as of July; in the last report regarding June 2014 the index increased by 0.3%;
09:30 –BOE Governor Carney Speaks: The Governor of Bank of England will give a speech in Liverpool;
15:00 – U.S JOLTS Job Openings: The Bureau of Labor Statistics will publish its monthly update on the U.S number of job openings for August, excluding the farming industry; in the past report regarding July, the number of jobs opening inched up to 4.67 million;
Wednesday, September 10th
06:45 – French Industrial Production: This report shows the shift in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. Last month’s index rose by 1.3%;
Tentative – China New Loans: According to the previous monthly update, the total loans reached 385 billion Yuan; this report is another indicator for China’s economic growth;
14:45 – Great Britain Inflation report hearing: In these hearings BOE Governor is expected to testify and refer to the British inflation and the bank’s economic outlook in front of Parliament’s Treasury Committee;
15:30 – U.S Crude Oil Stockpiles Weekly Report: The Energy Information Administration will publish its weekly update on the U.S oil and petroleum stockpiles for the week ending on September 5th;
Thursday, September 11th
02:30 – Australia Employment Update: In the recent report regarding July 2014 the rate of unemployment rose to 6.4%; the number of employed (seasonally adjusted) slipped by 0.3K people. This report could impact the Australian dollar (see here the recent report);
02:30 – China’s CPI: According to the recent report, the CPI remained at an annual rate of 2.3%; if the annual rate doesn’t pick up, it could signal the Chinese economy isn’t heating up;
13:30 – U.S. Jobless Claims Weekly Report: This weekly report will refer to the shifts in the initial jobless claims for the week ending on September 5th; in the last report the jobless claims rose to 302K;
15:30 – EIA U.S. Natural Gas Storage: The EIA weekly update of the U.S. natural gas market will refer to the latest shifts in natural gas production, storage, consumption and prices as of September 5th;
Friday, September 12th
04:30 –BOJ Governor Kuroda Speaks: The governor of Bank of Japan will speak at the National Graduate Institute for Policy Studies Graduation Ceremony, in Tokyo;
10:00 – EU’s Industrial Production: In the past report, EU’s industrial production declined by 0.3%;
All Day – ECOFIN Summit: The EU ministers of finance will meet and talk about the latest economic changes in Europe, euro support mechanisms and government finances;
13:30 –U.S. Retail Sales Report: This monthly update refers to August; in the previous report regarding July, retail sales remained unchanged (month-over-month); core retail edged up by 0.1%; this report also shows the developments in U.S’s gasoline retail sales, which could provide some insight regarding the progress in demand for gasoline;
14:55 – UoM Consumer Sentiment (preliminary): University of Michigan will publish its preliminary consumer sentiment monthly report; this survey could offer information regarding the recent developments in U.S consumers’ sentiment; According to the last report, the sentiment index declined to 79.2;
03:00 – China’s Industrial Production: According to the recent monthly update, China industrial production slipped to an annual rate of 9%; if the growth rate keeps falling, it may suggest China’s economy is progressing at a faster pace;
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