Week Ahead

Next week the Federal Reserve, ECB and Reserve Bank of Australia will be publishing the minutes of their last policy meetings. Key economic data include: US existing and new home sales, durable goods orders and flash Markit PMIs; UK CBI factory orders and UK Finance mortgage approvals; Eurozone flash Markit PMIs and consumer confidence; and Japan inflation rate and flash Nikkei Manufacturing PMI.

In the US investors await the release of the FOMC minutes on Wednesday, anticipating further clues on the timing of the next interest rate hike. Regarding the economic calendar, the most important releases are: existing and new home sales; durable goods orders; flash Markit PMIs; FHFA house prices; and Kansas Fed Manufacturing Index.

The UK will publish CBI factory orders, UK Finance mortgage approvals and public sector net borrowing. Elsewhere in Europe, investors will turn their attention to ECB account of the July policy meeting. Also, flash Markit PMIs for the Eurozone, Germany and France will be in the spotlight, alongside Eurozone consumer confidence and construction output; Germany final Q2 GDP growth and producer prices; Norway Q2 GDP growth; and Switzerland trade balance and industrial output.

In Japan analysts are eyeing the publication of inflation rate and flash Nikkei Manufacturing PMI. Meanwhile in Australia the RBA will publish the minutes of August monetary policy meeting.

Other important releases include: Canada retail trade; Mexico final Q2 GDP growth; Thailand Q2 GDP growth and trade balance; and Malaysia and South Africa inflation rates.



Joana Ferreira | joana.ferreira@tradingeconomics.com
8/17/2018 3:23:49 PM



 


Friday August 17 2018 Actual Previous Consensus
04:00 AM
MY
GDP Growth Rate YoY Q2 4.5% 5.4%
04:00 AM
MY
GDP Growth Rate QoQ Q2 0.3% 1.4%
07:00 AM
TR
Consumer Confidence AUG 68.3 73.1
07:30 AM
AU
RBA Ellis Speech
08:00 AM
PL
Employment Growth YoY JUL 3.5% 3.7%
08:30 AM
HK
Unemployment Rate JUL 2.8% 2.8%
08:30 AM
TW
GDP Growth Rate YoY Final Q2 3.3% 3.29%
09:00 AM
EA
Core Inflation Rate YoY Final JUL 1.1% 0.9%
09:00 AM
EA
Inflation Rate YoY Final JUL 2.1% 2%
09:00 AM
EA
Inflation Rate MoM JUL -0.3% 0.1%
12:30 PM
CA
Inflation Rate YoY JUL 3% 2.5%
12:30 PM
CA
Core Inflation Rate YoY JUL 1.6% 1.3%
12:30 PM
CA
Inflation Rate MoM JUL 0.5% 0.1%
01:00 PM
RU
Unemployment Rate JUL 4.7% 4.7%
02:00 PM
US
Michigan Consumer Sentiment Prel AUG 95.3 97.9
02:00 PM
US
Michigan Consumer Expectations Prel AUG 87.3 87.3
02:00 PM
US
Michigan 5 Year Inflation Expectations Prel AUG 2.5% 2.4%
02:00 PM
US
Michigan Inflation Expectations Prel AUG 2.9% 2.9%
02:00 PM
US
Michigan Current Conditions Prel AUG 107.8 114.4
Monday August 20 2018 Actual Previous Consensus
02:30 AM
TH
GDP Growth Rate YoY Q2 4.6% 4.9% ®
02:30 AM
TH
GDP Growth Rate QoQ Q2 1.0% 2.1% ®
06:00 AM
DE
PPI MoM JUL 0.2% 0.3%
08:30 AM
SK
Unemployment Rate JUL 5.5% 5.4%
09:00 AM
EA
Construction Output YoY JUN 2.6% 2% ®
09:15 AM
LU
Unemployment Rate JUL 5.5% 5.5%
10:00 AM
DE
Bundesbank Monthly Report
11:30 AM
CL
GDP Growth Rate YoY Q2 5.3% 4.3% ®
11:30 AM
CL
GDP Growth Rate QoQ Q2 0.7% 1.2%
03:00 PM
US
Fed Bostic Speech
04:00 PM
DE
Bundesbank Beermann Speech
06:00 PM
DE
Bundesbank Weidmann Speech
10:00 PM
AU
RBA Gov Lowe Speech
10:00 PM
BR
Business Confidence AUG 53.3 50.2
Tuesday August 21 2018 Actual Previous Consensus
01:30 AM
AU
RBA Meeting Minutes
04:30 AM
NL
Consumer Confidence AUG 21 23
06:00 AM
FI
Unemployment Rate JUL 6.5% 6.7%
06:00 AM
CH
Balance of Trade JUL CHF1.15B CHF1.22B ®
10:00 AM
GB
CBI Industrial Trends Orders AUG 7 11
12:00 PM
HU
Deposit Interest Rate AUG -0.15% -0.15%
12:00 PM
HU
Interest Rate Decision 0.9% 0.9%
08:30 PM
US
API Crude Oil Stock Change 17/AUG -5.17M 3.66M ®
Wednesday August 22 2018 Actual Previous Consensus
01:30 AM
AU
Construction Work Done QoQ Q2 1.6% 2.4% ®
03:10 AM
AU
RBA Debelle Speech
04:00 AM
TH
Balance of Trade JUL $-0.52B $1.58B
08:00 AM
ZA
Inflation Rate YoY JUL 5.1% 4.6%
08:00 AM
TW
Unemployment Rate JUL 3.69% 3.68%
09:00 AM
HR
Unemployment Rate JUL 8.6% 8.8%
11:20 AM
SI
Unemployment Rate JUN 7.9% 8.1%
12:30 PM
CA
Retail Sales MoM JUN -0.2% 2.2% ®
02:00 PM
US
Existing Home Sales MoM JUL -0.7% -0.6%
02:00 PM
US
Existing Home Sales JUL 5.34M 5.38M
02:30 PM
US
EIA Gasoline Stocks Change 17/AUG 1.2M -0.74M
02:30 PM
US
EIA Crude Oil Stocks Change 17/AUG -5.836M 6.805M
06:00 PM
US
FOMC Minutes
Thursday August 23 2018 Actual Previous Consensus
12:30 AM
JP
Nikkei Manufacturing PMI Flash AUG 52.5 52.3
01:00 AM
TH
Unemployment Rate JUL 1% 1.1%
02:45 AM
AU
RBA Boulton Speech
06:00 AM
NO
GDP Growth Rate YoY Q2 3.3% -0.7% ®
06:00 AM
NO
GDP Growth Rate QoQ Q2 0.4% 0.2% ®
06:00 AM
NO
GDP Growth Mainland QoQ Q2 0.5% 0.4% ®
06:45 AM
FR
Business Confidence AUG 110 108 ®
07:15 AM
FR
Markit Manufacturing PMI Flash AUG 53.7 53.3
07:15 AM
FR
Markit Services PMI Flash AUG 55.7 54.9
07:15 AM
CH
Industrial Production YoY Q2 8.3% 6.8% ®
07:30 AM
DE
Bundesbank Weidmann Speech
07:30 AM
DE
Markit Services PMI Flash AUG 55.2 54.1
07:30 AM
DE
Markit Manufacturing PMI Flash AUG 56.1 56.9