Here's the Economic Calendar for the week commencing the 28th of June 2010. The end of June confidence indicators and PMI's start to come out this week; on the confidence indicators side there's US consumer confidence, New Zealand business confidence, EU economic confidence, UK consumer confidence, and the Bloomberg financial conditions index. On the PMI side, there's the closely watched ISM manufacturing PMI in the US, and the CFLP and HSBC PMI's in China, there's also Japan's Tankan survey, and UK and EU PMIs. On the employment front there's the nonfarm payrolls update from the US (as well as an update on the housing market with the S&P Case Shiller index due out), and official unemployment rates from the EU and Japan.
(More commentary follows the table)
| Day | Time (GMT) | Code | Event/Release | Forecast | Previous |
| MON | EUR | German Consumer Price Index (YoY) June | 1.0% | 1.2% | |
| MON | 3:00 | NZD | NBNZ Business Confidence (JUN) | 48.2 | |
| MON | 12:30 | USD | Personal Income (MAY) | 0.5% | 0.4% |
| MON | 12:30 | USD | Personal Spending (MAY) | 0.1% | 0.0% |
| MON | 12:30 | USD | Personal Consumption Expenditure Core y/y | 1.2% | 1.2% |
| MON | 12:30 | USD | Chicago Fed National Activity Index | 0.32 | 0.29 |
| MON | 23:30 | JPY | Jobless Rate (MAY) | 5.0% | 5.1% |
| MON | 23:50 | JPY | Industrial Production (MoM) (MAY P) | 0.0% | 1.3% |
| TUE | 9:00 | EUR | Euro-Zone Economic Confidence (JUN) | 98.1 | 98.4 |
| TUE | 9:00 | EUR | Euro-Zone Business Climate Indicator (JUN) | 0.32 | 0.34 |
| TUE | 13:00 | USD | S&P/Case-Shiller Composite-20 sa m/m | -0.35% | -0.05% |
| TUE | 13:00 | USD | S&P/Case-Shiller Composite-20 (YoY) | 3.4% | 2.3% |
| TUE | 14:00 | USD | Consumer Confidence (JUN) | 62.5 | 63.3 |
| TUE | 23:01 | GBP | GfK Consumer Confidence Survey (JUN) | -19 | -18 |
| WED | 5:00 | JPY | Housing Starts (YoY) (MAY) | 5.0% | 0.6% |
| WED | 6:00 | GBP | Nationwide House Prices n.s.a. (YoY) (JUN) | 9.0% | 9.8% |
| WED | 7:55 | EUR | German Unemployment Rate s.a. (JUN) | 7.7% | 7.7% |
| WED | 8:30 | GBP | Current Account (Pounds) (1Q) | -4.5B | -1.7B |
| WED | 8:30 | GBP | GDP y/y Q1 Final | -0.2% | -0.2% |
| WED | 9:00 | EUR | Euro-Zone CPI Estimate (YoY) (JUN) | 1.5% | 1.6% |
| WED | 12:15 | USD | ADP Employment Change (JUN) | 60K | 55K |
| WED | 12:30 | CAD | Gross Domestic Product (MoM) (APR) | 0.1% | 0.6% |
| WED | 20:15 | USD | Bloomberg Financial Conditions Index | -1.0 | |
| WED | 21:00 | CNY | CFLP Manufacturing PMI | 53.2 | 53.9 |
| WED | 22:30 | CNY | HSBC Manufacturing PMI | 52.7 | |
| WED | 23:50 | JPY | Tankan Large Manufacturers Outlook (2Q) | 1 | -8 |
| WED | 23:50 | JPY | Tankan Non-Manufacturing Outlook (2Q) | -3 | -10 |
| WED | 23:50 | JPY | Tankan Large All Industry Capex (2Q) | 5.0% | -0.4% |
| THU | 1:30 | AUD | Retail Sales s.a. (MoM) (MAY) | 0.3% | 0.6% |
| THU | 1:30 | AUD | Building Approvals (MoM) (MAY) | 0.0% | -14.8% |
| THU | 3:00 | NZD | ANZ Commodity Price (JUN) | 2.5% | |
| THU | 6:00 | EUR | German Retail Sales (MoM) (MAY) | 0.4% | 1.0% |
| THU | 8:00 | EUR | Euro-Zone PMI Manufacturing (JUN F) | 55.6 | 55.6 |
| THU | 8:30 | GBP | PMI Manufacturing (JUN) | 57.6 | 58.0 |
| THU | 14:00 | USD | ISM Manufacturing (JUN) | 59.0 | 59.7 |
| THU | 14:00 | USD | ISM Prices Paid (JUN) | 72.0 | 77.5 |
| THU | 14:00 | USD | Pending Home Sales (MoM) (MAY) | -15.2% | 6.0% |
| THU | 14:00 | USD | Construction Spending (MoM) (MAY) | -0.6% | 2.7% |
| THU | 23:50 | JPY | Monetary Base (YoY) (JUN) | 3.7% | |
| FRI | 9:00 | EUR | Euro-Zone Unemployment Rate (MAY) | 10.1% | 10.1% |
| FRI | 12:30 | USD | Change in Non-Farm Payrolls (JUN) | -110K | 431K |
| FRI | 12:30 | USD | Unemployment Rate (JUN) | 9.8% | 9.7% |
| FRI | 12:30 | USD | Change in Private Payrolls (JUN) | 113K | 41K |
| FRI | 12:30 | USD | Average Hourly Earning (YoY) (JUN) | 2.0% | 1.9% |
| FRI | 14:00 | USD | Factory Orders (MAY) | -0.5% | 1.2% |
As noted we start July with some of the high frequency data, one of the key ones being the confidence indicators. First up is New Zealand business confidence, which will be interesting to see given the lukewarm GDP results reported for Q1 last week. Then there's EU economic confidence and the business climate indicator; both expected to cool slightly for June. Then on Tuesday, there's the US conference board Consumer Confidence index, which is expected to ease slightly. The UK GfK consumer confidence survey is also expected to drop slightly for June. So on the confidence front there's not much confidence in confidence it seems...
The other key high frequency economic indicator is the PMI or Purchasing Manager's Index. The influential ISM manufacturing PMI in the US will provide some useful clues as to the direction and current state of the US economic recovery; expectations are for a slight weakening; but as always the components will be the interesting bit. Of course the other key release will be from China, with both the CFLP and HSBC indexes released around Wednesday; these will provide a timely update on the direction of China's industrial economic growth engine - which has showed some signs of easing off. And the other one of the top 3 economies is Japan's Tankan survey of business conditions, with expectations for improvements, as the Japanese economy benefits from a gradual rebound in international trade.
On the employment front, US nonfarm payrolls are due out on Friday, with the consensus being at the moment for another 113k jobs added in June (with 41k added in May). The employment situation in the US is getting increasing attention as economists, strategists, investors, and consumers alike attempt to assess how the US economic recovery will unfold; the employment situation, and closely related; the housing situation (note the S&P Case Shiller house price index is also out this week), are critical to not only the probability of a recovery in consumer spending, but also the pace and effectiveness of consumer deleveraging and wealth rebuilding.
So as always, have a great week, watch out for surprises, stay tuned for updates...
Sources
DailyFX www.dailyfx.com/calendar
Forex Pros www.forexpros.com/economic-calendar/
Forex Factory www.forexfactory.com/calendar.php
Bloomberg www.bloomberg.com
+various statistics websites and central bank websites for verification
Article Source: http://www.econgrapher.com/28june-calendar.html
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