On Monday, Japan will release its Industrial Production data, while New Zealand will report its Consumer Price Index (CPI). The People’s Bank of China (PBoC) is also expected to make announcements regarding its Medium-term Lending Facility (MLF) and Loan Prime Rate (LPR).
Tuesday will see the release of the Reserve Bank of Australia’s Meeting Minutes, the UK Jobs Report, Germany’s ZEW Economic Sentiment Survey, Canada’s CPI, and the US Retail Sales and Manufacturing Production figures. The NAHB Housing Market Index will also be released in the United States.
On Wednesday, China will announce its GDP, Industrial Production, Retail Sales, and Unemployment Rate. The UK will release its CPI and Producer Price Index (PPI), while the US will report its Housing Starts and Building Permits.
Thursday brings Australia’s Jobs Report, the US Jobless Claims, and a speech by Federal Reserve Chair Jerome Powell.
Finally, on Friday, Japan will release its CPI, the PBoC will announce the Loan Prime Rate, and the UK and Canada will report their Retail Sales figures.
The New Zealand Consumer Price Index is expected to decrease slightly compared to the previous year due to a decline in fuel prices. The PBoC is likely to keep its MLF and LPR rates steady as the economy shows signs of improvement, despite disappointing inflation figures.
The UK Jobs Report is expected to show a decrease in employment change and an unchanged unemployment rate. The Bank of England is closely monitoring economic data, and positive readings may contribute to another rate hike.
In Canada, the CPI is expected to remain stable, but the Bank of Canada may consider a rate hike if underlying inflation stays high.
US Retail Sales are projected to increase, although the Federal Reserve is expected to maintain current interest rates.
The UK’s CPI is expected to decrease slightly, and the Bank of England may look through an upside surprise if the labor market report exhibits weakness.
US Jobless Claims have been demonstrating strength, but an increase in Continuing Claims last week could indicate an altered employment landscape.
The Japanese Core CPI is expected to decrease, but sustained wage growth or unexpected inflation data could influence the Bank of Japan’s policy decisions.
Definitions:
– Consumer Price Index (CPI): A measure of the average change in prices of a basket of goods and services over time, indicating inflation or deflation.
– Medium-term Lending Facility (MLF): A monetary policy tool used by the People’s Bank of China to provide short-term liquidity to commercial banks.
– Loan Prime Rate (LPR): A benchmark lending rate in China, serving as a reference for interest rates on loans given to households and businesses.
– Jobs Report: Data that includes information on employment change, unemployment rate, and average earnings, providing insight into a country’s labor market.
– Retail Sales: The total value of goods sold by retailers to customers, indicating consumer spending patterns.
– Jobless Claims: The number of individuals filing for unemployment benefits, reflecting the health of the job market.
Sources:
– New Zealand CPI YoY: Prior data from official statistical sources.
– PBoC MLF and LPR: Based on the latest PMI figures and inflation data, as mentioned in the article.
– UK Employment Change and Unemployment Rate: Prior data from official statistical sources, as well as comments from Governor Bailey.
– Canadian CPI: Anticipated considerations of the Bank of Canada with regards to underlying inflation.
– US Retail Sales M/M: Expected change based on prior data and the Federal Reserve’s monetary policy.
– UK CPI Y/Y: Forecasts considering prior data and potential impact on the Bank of England’s decisions.
– US Jobless Claims: Historical data analysis, as well as the recent surprise in Continuing Claims.
– Japanese Core CPI Y/Y: Expected change based on recent Tokyo CPI release and the Bank of Japan’s monetary policy adjustments.
