Week Ahead

Next week the final estimate of US Q2 GDP growth will be keenly watched, alongside personal income and outlays, PCE price index, durable goods orders, and pending home sales. Elsewhere, important releases include: UK CBI factory orders; Eurozone business survey and monetary indicators; Germany consumer morale; and China industrial profits. Policy decisions in the Philippines, New Zealand and Thailand will also be in the spotlight, as well as flash PMI surveys for the US, Eurozone, Japan and Australia.
Joana Ferreira | joana.ferreira@tradingeconomics.com 9/20/2019 3:23:19 PM
Next week the US will be publishing the final estimate of second-quarter GDP, with market forecasts suggesting economic growth was 2.0 percent, down from the previous period's 3.1 percent, as positive contributions from personal consumption expenditures and government spending were partly offset by negative contributions from private inventory investment, exports, and fixed investment. Other notable publications are personal income and outlays, PCE price index, durable goods orders, new and pending home sales, flash Markit PMIs, Chicago Fed National Activity Index, Case-Shiller home prices, advance estimates of wholesale inventories and goods trade balance, and the final reading of Michigan consumer sentiment.

Elsewhere in America, the Bank of Mexico will be deciding on monetary policy. Other important releases include: Canada wholesale sales and budget balance; Mexico retail trade, jobless rate, trade balance and economic activity; and Brazil current account, unemployment rate and consumer confidence.

In the UK, the CBI is set to publish gauges for factory orders and distributive trades, while other data to follow include public finances, UK Finance mortgage approvals and Nationwide housing prices. Elsewhere in Europe, flash Markit PMIs for the Eurozone, Germany and France are set to point to another month of contraction in the bloc's manufacturing sector. Traders will also keep an eye on the Eurozone business survey and monetary indicators; Germany, France and Italy business and consumer morale; France inflation; Spain trade balance and industrial orders; and Turkey manufacturing confidence.

The Bank of Japan will be releasing the minutes of its last monetary policy meeting and the Jibun Bank will be publishing flash figures for September's manufacturing and services PMIs. Other key data include: Tokyo inflation rate and July’s final leading economic index. In Australia, the CommBank will be releasing flash PMIs for September, providing an update on factory and services activity. Meanwhile, the Reserve Bank of New Zealand will deliver its latest monetary policy decision on Wednesday, but no changes are expected. On the economic data front, important releases include trade figures and the ANZ consumer confidence.

Other highlights for the Asia-Pacific region include: China industrial profits; South Korea consumer confidence; Thailand industrial production; Singapore industrial production and inflation rate; Taiwan industrial output and retail sales; Hong Kong current account and trade figures; and Malaysia inflation. Central banks in Thailand and the Philippines will meet to decide on monetary policy.

Investors will also react to any further developments on US-China trade talks, Brexit negotiations and oil price movements.





 


Friday September 20 2019 Actual Previous
01:30 AM
CN
Loan Prime Rate 1Y 4.2% 4.25%
01:30 AM
CN
Loan Prime Rate 5Y 4.85% 4.85%
03:00 AM
TH
Balance of Trade AUG $2.05B $0.11B
06:00 AM
DE
PPI MoM AUG -0.5% 0.1%
07:00 AM
CH
Current Account Q2 CHF 21.3B CHF20.6B ®
07:00 AM
TR
Consumer Confidence SEP 55.8 58.3
11:00 AM
GB
BoE Quarterly Bulletin
12:15 PM
US
Fed Williams Speech
12:30 PM
CA
Retail Sales MoM JUL 0.4% -0.1% ®
01:30 PM
NG
Interest Rate Decision 13.5% 13.5%
02:00 PM
EA
Consumer Confidence Flash SEP -6.5 -7.1
03:20 PM
US
Fed Rosengren Speech
Sunday September 22 2019 Actual Previous
11:00 PM
AU
CommBank Manufacturing PMI Flash SEP 49.4 50.9
11:00 PM
AU
CommBank Services PMI Flash SEP 52.5 49.1
Monday September 23 2019 Actual Previous
04:30 AM
NL
GDP Growth Rate YoY Final Q2 1.8% 1.7%
04:30 AM
NL
GDP Growth Rate QoQ Final Q2 0.4% 0.4% ®
07:15 AM
FR
Markit Manufacturing PMI Flash SEP 50.3 51.1
07:15 AM
FR
Markit Services PMI Flash SEP 51.6 53.4
07:30 AM
DE
Markit Manufacturing PMI Flash SEP 41.4 43.5
07:30 AM
DE
Markit Services PMI Flash SEP 52.5 54.8
08:00 AM
EA
Markit Manufacturing PMI Flash SEP 45.6 47
08:00 AM
EA
Markit Services PMI Flash SEP 52.0 53.5
08:20 AM
ES
Balance of Trade JUL €-2.49B €-1.53B
11:30 AM
BR
BCB Focus Market Readout
12:30 PM
US
Chicago Fed National Activity Index AUG 0.10 -0.41 ®
01:45 PM
US
Markit Composite PMI Flash SEP 51 50.7
01:45 PM
US
Markit Manufacturing PMI Flash SEP 51.0 50.3
01:45 PM
US
Markit Services PMI Flash SEP 50.9 50.7
01:50 PM
US
Fed Williams Speech
03:00 PM
EA
ECB President Draghi Speech
03:00 PM
DE
Bundesbank Mauderer Speech
05:00 PM
EA
ECB Lane Speech
05:00 PM
DE
Bundesbank Buch Speech
05:00 PM
US
Fed Bullard Speech
06:30 PM
US
Fed Daly Speech
Tuesday September 24 2019 Actual Previous
12:30 AM
JP
Jibun Bank Manufacturing PMI Flash SEP 48.9 49.3
12:30 AM
JP
Jibun Bank Services PMI Flash SEP 52.8 53.3
05:35 AM
JP
BoJ Gov Kuroda Speech
06:45 AM
FR
Business Confidence SEP 102 103 ®
07:00 AM
TR
Business Confidence SEP 98.8 102.5
07:00 AM
TR
Capacity Utilization SEP 76.3% 76.6%
08:00 AM
DE
Ifo Business Climate SEP 94.6 94.3
08:00 AM
PL
Unemployment Rate AUG 5.2% 5.2%
10:00 AM
GB
CBI Industrial Trends Orders SEP -28 -13
10:05 AM
AU
RBA Gov Lowe Speech
11:00 AM
BR
BCB Copom Meeting Minutes
01:00 PM
US
S&P/Case-Shiller Home Price YoY JUL 2% 2.2% ®
01:00 PM
US
S&P/Case-Shiller Home Price MoM JUL 0.1% 0.4% ®
02:30 PM
EA
ECB Guindos Speech
08:30 PM
US
API Crude Oil Stock Change SEP/20 1.4M 0.592M
11:50 PM
JP
BoJ Monetary Policy Meeting Minutes
Wednesday September 25 2019 Actual Previous
01:30 AM
JP
BoJ Masai Speech
04:00 AM
MY
Inflation Rate YoY AUG 1.5% 1.4%
06:00 AM
NO
Unemployment Rate JUL 3.8% 3.6%
06:45 AM
FR
Consumer Confidence SEP 104 103 ®
07:00 AM
EA
ECB Cœuré Speech
07:05 AM
TH
Interest Rate Decision 1.5% 1.5%
08:30 AM
GB
UK Finance Mortgage Approvals AUG 42.576K 43.303K ®
10:00 AM
FR
Unemployment Benefit Claims AUG -20.1K 10.8K
10:00 AM
GB
CBI Distributive Trades SEP -16 -49
11:00 AM
MX
Unemployment Rate AUG 3.7% 3.7%
12:00 PM
US
Fed Evans Speech
01:00 PM
CH
SNB Quarterly Bulletin
02:00 PM
EA
ECB Cœuré Speech
02:00 PM
US
Fed Brainard Testimony