Econ Data & Speeches 21/26 Sep 2014

[systematicfx]

Sunday 21 September



G20: G20 meeting in Australia (Last day)

France: PM Valls visits Germany and meets German Chancellor Merkel



22:00 GMT New Zealand: WBC consumer confidence, index Q3 prev 121.2



Monday 22 September



10:00 GMT E18: ECB Executive Board member Praet participates in panel discussion on the future of the global monetary system in Berlin

13:00 GMT E18: ECB President Draghi speaks to European parliament’s economic and monetary committee in Brussels

13:00 GMT Israel: Discount rate, % Sep Prev 0.25 Cons 0.25

14:05 GMT US: New York Fed President Dudley (FOMC voter) speaks in New York

1640 GMT TORONTO – Bank of Canada senior Deputy Governor Carolyn Wilkins will address the CFA Society in Toronto

23:30 GMT US: Minneapolis Fed President Kocherlakota (FOMC voter) speaks in Michigan



08:00 GMT Italy: Industrial orders, % m/m (y/y) Jul Prev -2.1 (-2.5)

14:00 GMT E18: ‘Flash’ consumer confidence, index Sep Prev -10.0 Cons -10.5

14:00 GMT US: Existing home sales, mn saar Aug Prev 5.15 cons 5.20



Tuesday 23 September



Germany: Chancellor Merkel and French PM Valls speaks at the conference of Germany’s BDI industry federation in Berlin

11:30 GMT Germany: Chancellor Merkel and Greek PM Samaras to discuss on Greek economy and European policy in Berlin

12:00 GMT Hungary: Deposit rate, % Sep prev 2.10 cons 2.10

13:00 GMT US: St. Louis Fed President Bullard (FOMC non-voter) speaks in Missouri

13:20 GMT US: Fed Governor Powell (FOMC voter) speaks in Missouri

13:30 GMT US: Kansas City Fed President George (FOMC non-voter) speaks in Missouri

18:00 GMT US: Minneapolis Fed President Kocherlakota (FOMC voter) speaks in Michigan

NEWPORT, England – Institute and Faculty of Actuaries 2014 GIRO conference (to Sept. 26). Bank of England Governor Mark Carney will be the key speaker on the third day



01:45 GMT China: Flash HSBC manufacturing PMI, index Sep Prev 50.2 cons 50.0

06:45 GMT France: Final GDP, % q/q Q2 Prev 0.0 P Cons 0.0

06:45 GMT France: Business climate, index Sep Prev 91 Cons 92

07:00 GMT France: “Flash” manufacturing PMI, index Sep Prev 46.9 Cons 47.0

07:00 GMT France: ” Flash” services PMI, index Sep Prev 50.3 Cons 50.0

07:30 GMT Germany: “Flash” manufacturing PMI, index Sep Prev 51.4 Cons 51.2

07:30 GMT Germany: ” Flash” services PMI, index Sep Prev 54.9 Cons 54.6

08:00 GMT E18: “Flash” manufacturing PMI, index Sep Prev 50.7 Cons 50.6

08:00 GMT E18: ” Flash” services PMI, index Sep Prev 53.1 Cons 53.0

08:00 GMT E18: “Flash” composite PMI, index Sep Prev 52.5 Cons 52.5

08:30 GMT UK: PSNBx, £bn Aug Prev 0.2 Cons 11.9

08:30 GMT UK: PSNB, £bn Aug Prev -1.1 Cons 10.1

08:30 GMT UK: PSNCR, £bn Aug Prev -9.7 Cons 6.0

12:30 GMT Canada: Retail sales, % m/m Jul Prev 1.1 Cons 0.4

12:30 GMT Canada: Retail sales ex autos, % m/m Jul Prev 1.5 Cons -0.2

13:00 GMT US: FHFA purchase-only HPI, % m/m (y/y) Jul Prev 0.4 (5.2) Cons 0.5

13:45 GMT US: “Flash” Markit PMI, index Sep Prev 57.9 Cons 58.0

22:45 GMT New Zealand: Trade balance, NZD mn Aug Prev -692 Cons -1125

22:45 GMT New Zealand: Exports, NZD bn Aug Prev 3.7 Cons 3.2

22:45 GMT New Zealand: Imports, NZD bn Aug Prev 4.4 Cons 4.5



Wednesday 24 September



01:15 GMT US: Kansas City Fed President George (FOMC non-voter) speaks in Wyoming

01:30 GMT Australia: RBA Financial Stability Review Sep

12:00 GMT Germany: Chancellor Merkel briefs on Ukraine to parliament’s EU committee in Berlin

16:05 GMT US: Cleveland Fed President Mester (FOMC-voter) speaks in Ohio

17:00 GMT US: Chicago Fed President Evans (FOMC non-voter) speaks in Washington

19:05 GMT OTTAWA – Bank of Canada Deputy Governor Timothy Lane speaks at Carleton University in Ottawa



08:00 GMT Germany: IFO business climate, index Sep Prev 106.3 Cons 105.8

08:00 GMT Germany: IFO current assessment, index Sep Prev 111.1 Cons 110.2

08:00 GMT Germany: IFO business expectations, index Sep Prev 101.7 Cons 101.2

08:00 GMT Italy: Consumer confidence, index Sep Prev 101.9

13:00 GMT Belgium: Business confidence index Sep Prev -7.3 Cons -7.1

13:00 GMT Mexico: Economic activity index, % y/y Jul Prev 2.7 Cons 2.1

13:00 GMT Mexico: First half bi-weekly CPI, % 2w/2w Sep Prev 0.19 Cons 0.15

14:00 GMT US: New home sales, k saar Aug Prev 412 Cons 430

23:50 GMT Japan: Corporate services price index, % y/y Aug Prev 3.7 Cons 3.7



Thursday 25 September



02:00 GMT Australia: RBA Governor participates in a discussion on financial system reform and the conduct of monetary policy in Melbourne

08:00 GMT Taiwan: Benchmark interest rate, % Sep Prev 1.875 Cons

11:00 GMT Turkey: Benchmark repo rate, % Sep Prev 8.25 Cons

11:00 GMT Turkey: Overnight lending rate, % Sep Prev 11.25 Cons

11:00 GMT Turkey: Overnight borrowing rate, % Sep Prev 7.50 Cons

11:00 GMT Czech: Repo rate announcement, % Sep Prev 0.05 Cons 0.05

17:20 GMT US: Atlanta Fed President Lockhart (FOMC non-voter) speaks in Mississippi



06:00 GMT UK: Nationwide house price Index, % m/m (y/y) (to 30/09) Sep Prev 0.8 (11.0) Cons 0.5 (10.4)

08:00 GMT E18: M3, % m/m (y/y) Aug Prev 0.6 (1.8) Cons 0.4 (2.0)

08:00 GMT E18: Loans to private sector (adjusted), % m/m (y/y) Aug Prev -0.2 (-1.0) Cons -0.1 (-0.9)

09:00 GMT Italy: Retail sales sa, % m/m (y/y) Sep Prev 0.0 (-2.6)

10:00 GMT UK: CBI distributive trades, total sales Sep Prev 37 Cons 33

12:30 GMT US: Initial jobless claims, k (4wma) Sep Prev 280 (300) Cons 300

12:30 GMT US: Durable goods orders, % m/m Aug Prev 22.6 Cons -17.0

12:30 GMT US: Durable goods ex transportation, % m/m Aug Prev -0.7 Cons 0.5

12:30 GMT Canada: Average Weekly Earnings, % y/y Jul Prev 3.3

23:30 GMT Japan: Nationwide CPI, % y/y Aug Prev 3.4 Cons 3.3

23:30 GMT Japan: Nationwide CPI ex. perishables, % y/y Aug Prev 3.3 Cons 3.2

23:30 GMT Japan: Nationwide CPI ex. food and energy, % y/y Aug Prev 2.3 Cons 2.3

23:30 GMT Japan: Tokyo CPI, % y/y Sep Prev 2.8 Cons 2.7

23:30 GMT Japan: Tokyo CPI ex. perishables, % y/y Sep Prev 2.7 Cons 2.6

23:30 GMT Japan: Tokyo CPI ex. food and energy, % y/y Sep Prev 2.1 Cons 2.1

02:00 GMT Japan: Liquidity Enhancement Auction ¥ 300 bn



Friday 26 September



Colombia: Overnight lending rate, % Sep prev 4.50 cons 4.50



05:00 GMT Singapore: Industrial production, % y/y Aug prev 4.0 cons 3.3

06:00 GMT Germany: GfK consumer confidence, index Oct prev 8.6 cons 8.5

06:45 GMT France: Consumer confidence indicator, index Sep prev 86 cons 86

08:00 GMT Italy: Business confidence, index Sep prev 95.7

12:30 GMT US: Final GDP, % q/q saar Q2 prev 4.2 cons 4.6

12:30 GMT US: Final consumer spending, % q/q saar Q2 prev 2.5 cons 3.0

12:30 GMT US: Final GDP price index, % q/q saar Q2 prev 2.1 cons 2.1

13:55 GMT US: Final Michigan consumer sentiment index Sep prev 84.6 cons 85.0

 

[systematicfx]

G20: Statements from the different authorities (Sunday 21st Sep 2014)

Canada:

• CANADA FINMIN OLIVER SAYS EUROPE CONTINUES TO STRUGGLE WITH INSIPID GROWTH
• BANK OF CANADA GOV POLOZ SAYS RISE IN US DOLLAR CAUSING VOLATILITY
• BANK OF CANADA GOV POLOZ SAYS CANADIAN ECONOMY HAS ROOM TO GROW
• BANK OF CANADA GOV POLOZ SAYS MUCH OF RECENT INFLATION CAUSED BY ONE-OFF FACTORS
• BANK OF CANADA GOV POLOZ SAYS DOESN'T SEE HOUSING MARKET AS A BUBBLE

Europe:

• G20-EUROPEAN COMMISSION'S KATAINEN: LOTS OF WORK TO BE DONE AT THE EUROPEAN LEVEL TO ACHIEVE 2 PCT EXTRA GROWTH GOAL
• G20-EUROPEAN COMMISSION'S KATAINEN: WE HAVE TO CONTINUE WITH SOUND FISCAL POLICY, HAVE TO BRING DEFICIT AND DEBT LEVEL DOWN IN GROWTH-FRIENDLY WAY
• G20-ECB'S COEURE: PERSISTENT WEAKNESS OF DEMAND HAS BEEN A KEY ISSUE
• G20-ECB'S COEURE: ECB READY FOR ADDITIONAL SUPPORT, BUT MONETARY POLICY SUPPORT WILL HAVE VERY LIMITED EFFECT WITHOUT STRUCTURAL REFORM
• EUROPEAN COMMISSION'S KATAINEN: EVERYBODY SEES OUR GROWTH AS TOO LOW AND WE'VE RECOGNISED THE PROBLEM, NOW ITS A QUESTION OF IMPLEMENTATION
• G20-ECB'S COEURE: NO ONE HAS ASKED THE ECB TO DO MORE AT THIS MEETING
• G20-ECB'S COEURE: ECB NOT SATISFIED WITH CURRENT LOW INFLATION LEVEL
• G20-ECB'S COEURE: THE GOVERNING COUNCIL HAS SAID IT IS READY TO DO MORE BUT WAY TOO EARLY TO TELL IF MORE NEEDED NOW

• GERMANY FINMIN SCHAEUBLE: SUSTAINABLE GROWTH NEEDS SUSTAINABLE BUDGETS, STRUCTURAL REFORMS AND INVESTMENTS
• G20-SCHAEUBLE SAYS IT WAS WIDELY ACCEPTED THAT THE ROOM FOR ADDITIONAL MEASURES FOR STRENGTHENING DEMAND WORLDWIDE IS SMALL

USA:

• G20-US TREASURY SECRETARY LEW:G20 HAS COME TO BROAD CONSENSUS ON TOTAL LOSS ABSORPTION CAPACITY (TLAC)
• US TREASURY SECRETARY LEW SAYS EURO AREA STILL CONTINUES TO FACE PERSISTENT HEADWINDS
• US TREASURY'S LEW: G20 HAS INTENSIFIED CALL TO BOOST DOMESTIC DEMAND
• US TREASURY'S LEW: CONGRESS SHOULD PASS ANTI-INVERSION LEGISLATIONS AS SOON AS POSSIBLE
• US TREASURY'S LEW: TREASURY WORKING ON ADMINISTRATIVE WAYS TO LIMIT ECONOMIC BENEFITS OF INVERSION
• US TREASURY'S LEW: DISCUSSIONS THIS WEEKEND HAVE SHOWED GROWING RECOGNITION EUROPE NEEDS TO DO MORE TO GET ECONOMY TO WHERE IT SHOULD BE
• US TREASURY'S LEW: AS LONG AS RUSSIA CONTINUES TO THREATEN UKRAINE SOVEREIGNTY THERE WILL BE UNITY TO ISOLATE RUSSIA ECONOMICALLY

Australia:

• G20: AUSTRALIA TREASURER HOCKEY SAYS AGREED ON NEED FOR SHORT TERM FISCAL STIMULUS WHERE APPROPRIATE

Japan:

• BOJ KURODA: JAPAN STILL HALFWAY THROUGH MEETING BOJ'S 2 PCT PRICE TARGET BUT ABOUT TO EMERGE FROM DEFLATIONARY SITUATION

China:

•CHINA FINMIN SAYS CHINA WILL NOT DRAMATICALLY ALTER POLICY BECAUSE OF ANY ONE ECONOMIC INDICATOR
•CHINA FINMIN SAYS CHINA CANNOT RELY ON GOVERNMENT SPENDING TO INCREASE INFRASTRUCTURE INVESTMENT

 

[systematicfx]

Overnight Comments

• 
  [*]Fed's Kocherlakota: Should not Be Overly Sanguine about Low Inflation
  [*]Kocherlakota: Should be very Cautious about Starting to Raise Rates with Inflation so Low
  [*]Kocherlakota: Unemployment Rate Overestimates Labor Market Recovery
  [*]Kocherlakota: Setting a 2-Year Deadline on Meeting Inflation Target would push Unemployment down faster
  [*]Obama Says Treasury Secretary Lew briefed him on Monday on First Steps Treasury Department will take to discourage Corporate Tax Inversions
  [*]Obama, In Statement, Says Lew is "Exploring Additional Actions" to Reverse Trend of Corporate Tax Inversions