Front and center last week were the crises in Cyprus and Italy. While Cyprus agreed to a restructured bailout package, the political impasse in Italy remains with no solution in sight. The Reserve Bank of Australia, Bank of England and European Central Bank announce their respective monetary policy decisions. However, the focus will be on the Bank of Japan and the first announcement from new governor Haruhiko Kuroda. Expectations are high for aggressive moves to finally hoist the economy from its malaise and defeat the over 15 years of deflation. Elsewhere, investors will be monitoring the plethora of purchasing managers’ indexes globally but especially from China, the Eurozone and the U.S. The week draws to an end with the U.S. employment situation report.
Sunday, 31 March 2013
Sunday, 24 March 2013
Looking Ahead: March 25 through March 29, 2013
Posted on 22:37 by Unknown
The turmoil over Cyprus trumped economic news including the FOMC announcement on Wednesday. At this writing, negotiations continue in an attempt to reach a package by Monday — the day the ECB said it will stop supporting Cyprus. The Federal Reserve left its policy unchanged. Economic data for Europe disappointed but did not for the U.S. The last week of the month brings its usual spate of new economic data especially from Japan. February unemployment, consumer prices, industrial output and consumer spending are on the calendar. It is also the last week of the first quarter of 2013 and the end of Japan’s fiscal year.
Sunday, 17 March 2013
Looking Ahead: March 18 through March 22, 2013
Posted on 23:19 by Unknown
While economic data from the UK and Europe were weaker than expected, most U.S. data improved. The Swiss National Bank, Reserve Bank of New Zealand and the Bank of Korea left their respective monetary policies unchanged. Data from China showed that inflation picked up while increases in output and retail sales disappointed. The data highlights for this week will be flash manufacturing PMIs from China, the Eurozone, France, Germany and the United States. The Federal Reserve holds a two day meeting to be followed by the Fed President’s quarterly press conference.
Monday, 11 March 2013
Looking Ahead: March 11 through March 15, 2013
Posted on 00:53 by Unknown
Five of the major central banks met — all left their respective monetary policies unchanged as expected. Data were mixed but there were promising improvements in China’s exports, Japan’s GDP and U.S. employment. Data next week focuses on merchandise trade and industrial production data for the most part. Australia’s labour force survey will be parsed carefully by equity and foreign exchange markets. The U.S. begins daylight savings time on Sunday, March 10, 2013.
Monday, 4 March 2013
Looking Ahead: March 4 through March 8, 2013
Posted on 01:02 by Unknown
U.S. sequestration and an Italian election didn't rattle the international markets which were buoyed by comments from ECB President Mario Draghi as well as Fed Chairman Ben Bernanke. Economic data were mixed to disappointing in Japan, Europe and the UK. This week brings five major central bank meetings — Reserve Bank of Australia, Banks of Japan, Canada and England and the European Central Bank. Canada and the U.S. will release their employment reports while Australia’s fourth quarter growth data are expected. Global service sector PMIs — the counterparts of those for manufacturing — will provide a snap shot of what is by far the largest part of the global economy.
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