Week Ahead


Next week the most important events will be US Federal Reserve and Bank of Japan policy meetings and UK Prime Minister May speech on Brexit in Florence. Other key data include US flash PMIs, housing statistics and current account; UK retail trade and CBI factory orders; the Eurozone flash PMIs, consumer sentiment and inflation; and China house prices.

It will be a busy week in the US as the Federal Reserve will deliver its latest policy decision and to publish quarterly economic projections on Wendesday. While the central bank is likely to keep rates on hold, investors will be looking for details on plans to unwind the massive balance sheet it built up in the wake of the financial crisis. Other key data include: Flash PMIs; housing starts and building permits; existing home sales; current account; export and import prices; house prices by Fannie Mae and Freddie Mac; Philadelphia Fed Manufacturing Index; NAHB Housing Market Index; and overall net capital flows. 

In the United Kingdom, Prime Minister Theresa May will give a speech on Brexit in Florence which may be crutial in the country’s negotiations over its divorce from the EU. Also, in the spotlight will be: retail sales, CBI industrial trends orders and public sector net borrowing data.


Elsewhere in Europe, important releases include flash PMI data for the Eurozone, Germany and France. Markets will also focus on the Eurozone consumer confidence and inflation rate; Germany ZEW economic sentiment; French GDP growth; and Norway interest rate decision.

In Japan, the Bank of Japan will meet, but no changes in the monetary policy are expected. The country's trade balance will also be watched.

In Australia, the RBA will publish its meeting minutes, which are expected to provide further details on the bank's outlook for policy. 

Other important releases include China house prices; South Africa, Indonesia, Philippines and Taiwan interest rate decisions; and Malaysia and South Africa and Canada inflation rate.


Joana Ferreira | joana.ferreira@tradingeconomics.com
9/17/2017 5:20:33 PM



 


Friday September 15 2017 Actual Previous Consensus
04:00 AM
ID
Balance of Trade AUG $1.72B $-0.27B
07:00 AM
TR
Unemployment Rate JUN 10.2% 10.2%
08:35 AM
NG
Inflation Rate YoY AUG 16.01% 16.05%
08:50 AM
GB
BoE Vlieghe Speech
09:00 AM
EA
Balance of Trade JUL €23.2B €26.2B ®
10:00 AM
IE
GDP Growth Rate YoY Q2 5.8% 5.2% ®
10:00 AM
IE
GDP Growth Rate QoQ Q2 1.4% -3.5% ®
10:30 AM
RU
Interest Rate Decision 8.5% 9%
11:00 AM
IL
Inflation Rate MoM AUG 0.3% -0.1%
11:00 AM
GB
BoE Quarterly Bulletin
12:25 PM
IN
Current Account Q2 $-14.3B $-3.4B
12:30 PM
US
NY Empire State Manufacturing Index SEP 24.40 25.2
12:30 PM
US
Retail Sales Ex Autos MoM AUG 0.2% 0.4% ®
12:30 PM
US
Retail Sales MoM AUG -0.2% 0.3% ®
12:35 PM
IN
Balance of Trade AUG $-11.64B $-11.45B
01:15 PM
US
Industrial Production YoY AUG 1.5% 2.4% ®
01:15 PM
US
Industrial Production MoM AUG -0.9% 0.4% ®
02:00 PM
US
Business Inventories MoM JUL 0.2% 0.5%
02:00 PM
US
Michigan Consumer Sentiment Prel SEP 95.3 96.8
EA
Eurogroup Meeting
EA
Ecofin Meeting
Saturday September 16 2017 Actual Previous Consensus
EA
Ecofin Meeting
Monday September 18 2017 Actual Previous Consensus
01:30 AM
CN
House Price Index YoY AUG 8.3% 9.7%
08:00 AM
IT
Balance of Trade JUL €6.56B €4.504B ®
09:00 AM
EA
Core Inflation Rate YoY Final AUG 1.2% 1.2%
09:00 AM
EA
Inflation Rate YoY Final AUG 1.5% 1.3%
09:00 AM
EA
Inflation Rate MoM AUG 0.3% -0.5%
12:00 PM
PL
Employment Growth YoY AUG 4.6% 4.5%
02:00 PM
US
NAHB Housing Market Index SEP 64 67 ®
03:00 PM
GB
BoE Gov Carney Speech
08:00 PM
US
Net Long-Term Tic Flows JUL $1.3B $34.4B
08:00 PM
US
Overall Net Capital Flows JUL $-7.3B $5.9B ®
08:00 PM
US
Foreign Bond Investment JUL $-0.49B $19.7B
Tuesday September 19 2017 Actual Previous Consensus
01:30 AM
AU
House Price Index QoQ Q2 1.9% 2.2%
01:30 AM
AU
RBA Meeting Minutes
09:00 AM
EA
Construction Output YoY JUL 3.4% 4.3% ®
09:00 AM
EA
ZEW Economic Sentiment Index SEP 31.7 29.3
09:00 AM
DE
ZEW Economic Sentiment Index SEP 17.0 10
09:00 AM
DE
ZEW Current Conditions SEP 87.9 86.7
11:45 AM
GB
BoE Kohn Speech
12:30 PM
US
Building Permits AUG 1300K 1230K
12:30 PM
US
Building Permits MoM AUG 5.7% -3.5%
12:30 PM
US
Export Prices MoM AUG 0.6% 0.5% ®
12:30 PM
US
Housing Starts AUG 1180K 1190K ®
12:30 PM
US
Housing Starts MoM AUG -0.8% -2.2% ®
12:30 PM
US
Current Account Q2 $-123.1B $-113.5B ®
12:30 PM
US
Import Prices MoM AUG 0.6% -0.1% ®
01:00 PM
RU
Unemployment Rate AUG 4.9% 5.1%
08:30 PM
US
API Weekly Crude Oil Stock SEP 1.443M 6.181M
11:50 PM
JP
Exports YoY AUG 18.1% 13.4%
11:50 PM
JP
Balance of Trade AUG ¥113.6B ¥422B ®
Wednesday September 20 2017 Actual Previous Consensus
04:00 AM
MY
Inflation Rate YoY AUG 3.7% 3.2%
06:00 AM
DE
PPI MoM AUG 0.2% 0.2%
08:00 AM
ZA
Inflation Rate YoY AUG 4.8% 4.6%
08:30 AM
GB
Retail Sales ex Fuel MoM AUG 1.0% 0.7% ®
08:30 AM
GB
Retail Sales ex Fuel YoY AUG 2.8% 1.7% ®
08:30 AM
GB
Retail Sales MoM AUG 1% 0.6% ®
08:30 AM
GB
Retail Sales YoY AUG 2.4% 1.4% ®
08:30 AM
GB
BoE FPC Meeting
01:00 PM
CH
SNB Quarterly Bulletin
02:00 PM
US
Existing Home Sales MoM JUL -1.7% -1.3%
02:00 PM
US
Existing Home Sales AUG 5.35M 5.44M
02:30 PM
US
EIA Gasoline Stocks Change 15/SEP -2125K -2.125M ®
02:30 PM
US
EIA Crude Oil Stocks Change 15/SEP 4.591M 5.888M
06:00 PM
US
Fed Interest Rate Decision 1.25% 1.25%
06:00 PM
US
FOMC Economic Projections
06:30 PM
US
Fed Press Conference
EA
ECB Non-Monetary Policy Meeting
Thursday September 21 2017 Actual Previous Consensus
01:30 AM
AU
RBA Bulletin
03:00 AM
JP
BoJ Interest Rate Decision -0.1% -0.1%
04:00 AM
TH
Balance of Trade AUG $2.09B $-0.19B
04:30 AM
NL
Consumer Confidence SEP 23 26
04:30 AM
NL
Unemployment Rate AUG 4.7% 4.8%
05:45 AM
CH
SECO Economic Forecasts
06:00 AM
CH
Balance of Trade AUG CHF2170M CHF3494M ®
07:00 AM
TR
Consumer Confidence SEP 68.7 71.1
08:00 AM
NO
Norges Bank Monetary Policy Report
08:00 AM
NO
Norges Bank Interest Rate Decison 0.5% 0.5%
08:20 AM
PH
Interest Rate Decision 3% 3%
11:00 AM
TR
Monetary Policy Meeting Minutes
12:30 PM
US
Initial Jobless Claims SEP/16 259K 282K ®
12:30 PM
US
Philadelphia Fed Manufacturing Index SEP 23.8 18.9
01:20 PM
ZA
Interest Rate Decision 6.75% 6.75%
01:30 PM
EA
ECB Draghi Speech
02:00 PM
EA
Consumer Confidence Flash SEP -1.2 -1.5
02:30 PM
US
EIA Natural Gas Stocks Change SEP/15 97Bcf 91Bcf
07:00 PM
AR
GDP Growth Rate YoY Q2 2.7% 0.3% ®
07:00 PM
AR
GDP Growth Rate QoQ Q2 0.7% 1.2% ®
EA
ECB General Council Meeting
Friday September 22 2017 Actual Previous Consensus
06:45 AM
FR
GDP Growth Rate QoQ Final Q2 0.5% 0.5%
07:00 AM
FR
Markit Manufacturing PMI Flash SEP 56.0 55.8
07:00 AM
FR
Markit Services PMI Flash SEP 57.1 54.9
07:30 AM
DE
Markit Services PMI Flash SEP 55.6 53.5