EPIC UPDATE: KEY EVENTS IN THE COMING WEEK -
July 23rd, 2012
Monday, July 23
Singapore CPI (Jun): Consensus expects a rise of 5.2% yoy, we expect a print of 5.3% from the previous print of 5.0% yoy.
Taiwan Industrial Production (Jun): Consensus expectations at 0.91% yoy growth, from a decline of 0.21% in May.
Tuesday, July 24
China HSBC Flash PMI (Jul A): The previous print was 48.2.
Euro area Flash PMIs (Jul A): The consensus expects at reading of 45.3 for the manufacturing PMI vs a reading of 45.1 previously. The
consensus expects at reading of 47.3 for the services PMI vs a reading of 47.1 previously
Wednesday, July 25
Japan Merchandise Trade Balance (Jun): The trade deficit for May was JPY910.4 bn.
New Zealand Trade Balance (Jun): The trade balance recorded a surplus of NZD301mn in May. The consensus expects a print of NZD2mn in June.
Philippines Trade Balance (May): The April trade balance came in at a deficit of US$135 mn.
Australia Consumer Prices (2Q): We and the consensus expect a print of 0.6%qoq after 0.1%qoq in Q1.
Thailand Central Bank Meeting: The policy rate was left unchanged at 3.00% in its previous meeting. We and the consensus expect unchanged rates again at this meeting.
Germany IFO Business Climate (Jul): The consensus expects a reading of 104.5 after the June print of 105.3.
United Kingdom GDP (2Q A): We expect a print of -0.1%qoq and the consensus expect a print of -0.2%qoq following the contraction of 0.3% in 1Q.
Thursday, July 26
New Zealand Central Bank Meeting: We expect rates to remain unchanged at 2.50%.
Korea GDP (2Q P): Consensus expects growth of 2.4% yoy, from 2.8% in 1Q.
Singapore Industrial Production (Jun): Consensus expects a 3.00% yoy rise, from 6.6% yoy previously.
Sweden Trade Balance (Jun): A surplus of SKr9.8 bn was recorded in May.
United States Durable Goods Orders (Jun): Consensus is expecting a rise of 0.5%, however we expect a decline of -1.0%, from growth of 1.3% in May.
Friday, July 27
Korea Current Account (Jun): The current account recorded a surplus of US$3611.8 mn in May.
Japan National CPI (Jun): CPI inflation was at 0.2% yoy in May.
Switzerland KoF Leading Indicator (Jul): The consensus expects a print of 1.10. Previously, the index came in at 1.16.
Germany CPI (Jul P): The CPI came in at 1.7% yoy in June, the consensus expects the same print in July.
United States GDP QoQ Annualized (2Q A): Consensus is expecting growth of 1.5%qoq ann, we expect a print of 1.1%qoq ann, from 1.9%qoq ann previously.
United States University of Michigan Confidence (Jul F): Consensus expects the index to come in at 73, we expect a print of 74.0, from 72 in June.