Second Quarter Euroland GDP Growth and Some Central Bank Rate Announcements – Currency Thoughts

September 14-20, 2024 – Currency Thoughts


Next Week’s Menu: September 14-20, 2024

September 13, 2024

Central Banks: Monetary policies will be reviewed at the Fed, Bank of Japan, Bank of England, Bank of Norway, Bank Indonesia, People’s Bank of China, Central Bank of Turkey, Central Bank of Brazil, South African Reserve Bank, Central Bank of the Republic of China, and National Bank of Moldova. The FOMC will update its macro projections. Fed Chairman Powell, Bank of England Governor Bailey, Bank of Japan Governor Ueda, and Bank of Canada Governor Macklem are among the central bank authorities slated to speak in public during the period. Minutes from the Bank of Canada policy review will be published.

Holidays and Events: China’s Mid-Autumn festival runs through Tuesday. South Koreans observe Cheseok and Japan celebrates Respect for the Aged on Monday. Hong Kong’s mid-Autumn is on Wednesday. The Eurogroup meets early in the week.

Scheduled U.S. Economic Releases: Quarterly current account. Monthly retail sales, industrial production, capacity usage, housing starts, building permits, NAHB housing market index, existing home sales, Empire State and Philly Fed manufacturing surveys, Treasury-compiled capital flows, and index of leading economic indicators. Weekly jobless insurance claims, mortgage applications, energy inventories, and chain store sales.

Japanese and Chinese Data: Japanese machinery orders, consumer prices, tertiary index and trade balance. Chinese industrial production, retail sales, house prices, foreign direct investment, fixed asset investment and jobless rate.

Selected Other Asian Releases: Trade balances of India, Singapore, Malaysia and Indonesia. Hong Kong’s current account, CPI, and jobless rate. Wholesale prices in India.

Euroland Releases: Consumer prices ZEW investor confidence, labor costs, current account, trade balance, construction output, and motor vehicle sales.

Members of the Euro Area: Consumer prices in Austria, Cyprus, Slovakia, Italy, and Croatia. German, Portuguese, Estonian, Latvian, and Slovenian producer prices. Dutch, Belgian, and Slovenian consumer confidence. German and French indices of leading economic indicators. Italian current account and German ZEW expectations index. Belgian and Italian trade balances.

U.K. and Switzerland: British CPI, PPI, car sales, retail sales, consumer confidence and Rightmove house price index. Swiss producer prices, import prices, trade balance, and updated macroeconomic forecasts of the government.

Nordic Europe: Norwegian trade balance and Icelandic CPI. Danish PPI and consumer sentiment.

Eastern Europe: Czech, Russian, and Polish producer prices. Polish and Bulgarian producer prices. Polish industrial production and Russian consumer confidence.

Australia and New Zealand: Australian labor market statistics and index of leading economic indicators. New Zealand GDP, current account and service sector purchasing managers index.

South Africa and Turkey: South African and Turkish consumer confidence. South African CPI and retail sales.

Canada and Mexico: Canadian housing starts, consumer prices, producer prices, and house prices. Mexico’s index of leading economic indicators.

Copyright 2024, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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