Action Insight · Markets Data · The week ahead

Key Economic Events For This Week




MONDAY, Dec. 7

Euro-area finance ministers meet to discuss the work of the Single Supervisory Mechanism, the state of play in Greece, Ireland’s assistance program and economic growth and unemployment. 09:00 EST.

China’s trade surplus may have reached a record high in November as low commodity prices weighed on imports, according to a Bloomberg survey of economists. About 21:00 EST.

ECONOMY: U.S. labor market conditions (Nov.), U.S. consumer credit (Oct.), Chile inflation (Nov.), Taiwan exports/imports (Nov.), South Korea external debt (third quarter), German industrial production (Oct.), Swiss foreign-currency reserves (Nov.), South Africa gross and net reserves (Nov.), Israel foreign currency balance (Nov.), Russian CPI (Nov.), Czech industrial output (Oct.), Hungarian budget balance (Nov.), Ukrainian CPI (Nov.).

CENTRAL BANKS: Israel minutes.


Bank of Canada Governor StephenPoloz speaks before the Empire Club of Canada at 13:10 in Toronto, followed by a press conference at 14:10. The remarks of his speech will be published on the central bank’s website at 12:55.

China factory-gate prices may continue to decline in line with a month earlier, signaling there’s no end in sight for the country’s deflationary mire. Consumer inflation may have gained marginally in November, 20:30 EST.

ECONOMY: NFIB U.S. small-business

optimism (Nov.), U.S. job openings/labor turnover survey (Oct.), Canada housing starts (Nov.), Canada building permits (Oct.), Taiwan inflation (Nov.), Japan current account (Oct.), euro-area GDP (third quarter), Bank of France business sentiment (Nov.), U.K. industrial production (Oct.), South Africa current-account balance (third quarter), Turkey industrial production (Oct.), Egypt CPI (Nov.), Hungarian CPI (Nov.).


The Bank of England Financial Policy Committee publishes the record of its November meeting, when officials led by Governor Mark Carney discussed risks to financial stability, though held off imposing new limits on buy-to-let property borrowing or raising a capital buffer on banks. 04:30 EST.

Indonesia holds elections for local leaders, from city mayors to regional governors, across the country. At stake is the ability to hand out investment permits and spend central government funds on infrastructure.

ECONOMY: MBA U.S. mortgage applications (weekly), U.S. wholesale inventories (Oct.), Brazil IPCA inflation (Nov.), Mexico inflation (Nov.), Japan machinery orders (Oct.), South Africa CPI (Nov.), South Africa retail sales (Oct.).


Bank of England decision. The Monetary Policy Committee will probably leave its key interest rate at a record-low 0.5 percent. It will publish a statement with the decision and the voting record of the nine committee members. 07:00 EST.

Swiss National Bank’s quarterly policy assessment. The central bank’s deposit rate is at a record low of minus 0.75 percent. The SNB will also issue new growth and inflation forecasts and President Thomas Jordan will brief the press. Announcement at 03:30 EST, with the press briefing at 04:00.

Argentina’s President-elect Mauricio Macri is due to be sworn in at 10:00 EST.

The Organization of PetroleumExporting Countries publishes its Monthly Oil Market Report, including the latest crude-production figures for members Saudi Arabia and Iraq.

ECONOMY: U.S. import price index (Nov.), U.S. initial jobless claims (weekly), U.S. Bloomberg Consumer Comfort Index (weekly), U.S. household net worth (third quarter), U.S. budget statement (Nov.), Australian employment (Nov.), China new loans, money supply (Nov.) from Dec. 10-15, South Africa consumer confidence (fourth quarter), Turkey current account balance (Oct.), Turkey GDP (third quarter), Russia GDP (third quarter).

CENTRAL BANKS: New Zealand rate decision, Peru rate decision, South Korea rate decision, Serbia rate decision.

FRIDAY, Dec. 11

Japanese Prime Minister Shinzo Abestarts a three-day visit to India for talks with counterpart Narendra Modi that are likely to cover defense cooperation, investment and a potential high-speed railway deal.

U.S. Congress must pass a $1.1 trillion federal spending bill by the end of the day today, when the current stopgap funding measure expires, to keep the government operating.

U.S. retail sales probably climbed in November by the most in four months, spurred in part by a pickup in motor vehicle purchases as cheaper gasoline and income gains give Americans more spending power entering the holiday-shopping season. 08:30 a.m.

U.S. consumer sentiment may have increased in December to a four-month high as Americans paid less at the gas pump, economists project the University of Michigan will report. 10:00 EST.

The ECB announces the allotment of its targeted lending program. 05:15 EST.

The International Energy Agencyissues its monthly Oil Market Report with the latest forecasts for global oil supply and demand. 04:00 EST.

ECONOMY: U.S. producer-price index (Nov.), U.S. business inventories (Oct.), Italian industrial production (Oct.), Portugal CPI (Nov.), Romania CPI (Nov.), Russia trade (Oct.).

CENTRAL BANKS: Russia interest rate decision, Colombia meeting minutes


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