The week is sparse by recent standards especially with investors focusing on the FOMC meeting September 16-17 even more so in light of the recent weak job numbers.
WASHINGTON (MarketWatch) The August job report was "somewhat disappointing," said Eric Rosengren, the president of the Boston Fed, on Friday. His remarks were the first comment on the data from a Fed official. The central bank will go quiet next week as it prepares for its Sept. 16-17 policy meeting. Rosengren, who is on the dovish wing of the committee, is not a voting member this year. In a speech prepared for a conference of bankers in Boston, Rosengren said the U.S. central bank needs to remain patient on rate hikes to give the labor market more time to heal. There is also no upward pressure on inflation coming from wages, he noted. In his speech, he also called for the Fed to move away from any "date-based" forward guidance, and instead focus on "what incoming data tell us" about progress toward the central bank's twin goals of full employment and stable inflation. With the Fed getting close to its goals, and given uncertainty around forecasts, incoming data could cause the central bank to shift the first rate hike forward or backward in time, he said. Rosengren repeated he does not favor a rate hike until the Fed is within one year of achieving its goals of full employment, which he defined as a 5.25% unemployment rate, and inflation close to 2% annual rate.
Monday, September 8
US Economics (Time Zone: EDT)
3:00 Consumer Credit (Jul) - expected $17.3B, prior $17.25B
11:00 Fed buying $950M-$1.15b Treasuries in 25 to 30-year range
11:30 Treasury to sell $26b 3-month bills, $23b 6-month bills
Global Economics (Time Zone: GMT)
JPY Trade Balance
JPY GDP (2Q final)
CNY Trade Balance
05:45 CHF Unemployment Rate
06:00 EUR German Trade Balance
07:15 CHF CPI
12:30 CAD Building Permits
Earnings
After
FuelCell Energy (FUEL)
Campbell Soup (CPB)
Tuesday, September 9
US Economics (Time Zone: EDT)
07:30 NFIB Small Business Optimism (Aug) - expected 96.0, prior 95.7
10:00 JOLTS Job Openings - exp 4711, prior 4671
10:00 Construction Spending MoM (Jul) - exp 0.8%, prior -1.8%
11:30 Treasury to sell 4-week bills
1:00 Treasury to sell $27b 3-year notes
Fedspeak
10:00am Tarullo (moderate, board member) testifies to Senate Banking Committee
Global Economics (Time Zone: GMT)
JPY BoJ Minutes
01:30 AUD Home Loans
05:00 JPY Consumer Confidence Index
08:30 GBP Trade Balance
08:30 GBP Industrial & Manufacturing Production
12:15 CAD Housing Starts
14:00 GBP NIESR GDP Estimate (Aug)
9:30am BoE's Carney speaks in Liverpool
Earnings
Before:
Barnes & Noble (BKS)
HD Supply Holdings (HDS)
After
Palo Alto Networks (PANW)
Wednesday, September 10
US Economics (Time Zone: EDT)
07:00 MBA Mortgage Purchase Index
10:00 Wholesale Inventories MoM (Jul) - expected 0.5%, prior 0.3%
11:00 Fed to buy $350m-$450m TIPS in 5 to 30-year range
1:00 Treasury to sell $21b 10-year notes (reopening)
Global Economics (Time Zone: GMT)
00:30 AUD Westpac Consumer Confidence
2:45pm BoE's Carney speaks to Parliament
Earnings
After
Five Below (FIVE)
Men's Wearhouse (MW)
Radioshack (RSH)
Thursday, September 11
US Economics (Time Zone: EDT)
08:30 Initial Jobless Claims - expected 300K, prior 302K
08:30 Continuing Claims - exp 2500K, prior 2464K
2:00 Treasury Budget (Aug) - exp -$135B
11:00 Fed to purchase $2b-$2.5b Treasuries in 6 to 7-year range
1:00 Treasury to sell $13b 30-year bonds (reopening)
Global Economics (Time Zone: GMT)
NZD RBNZ Rate Decision
JPY BSI Large Manufacturing (3Q)
01:30 CNY CPI & PPI
01:30 AUD Employment Change
06:00 EUR German CPI (Aug final)
12:30 CAD New Home Price Index
8:00pm ECB's Draghi speaks in Milan
Earnings
After:
Ulta Salon (ULTA)
Kroger (KR)
Friday, September 12
US Economics (Time Zone: EDT)
08:30 Advance Retail Sales (Aug) - expected 0.5%, prior 0.0%
08:30 Retail Sales Ex Auto - exp 0.2%, prior 0.1%
08:30 Retail Sales Ex Auto & Gas - exp 0.4%, prior 0.1%
08:30 Import Price Index MoM (Aug) - exp -1.0%, prior -0.2%
09:55 University of Michigan Consumer Confidence (Sep prelim) - exp 83.5, prior 82.5
10:00 Business Inventories (Jul) - exp 0.5%, prior 0.4%
Global Economics (Time Zone: GMT)
09:00 EUR Eurozone Industrial Production
7:05am BoJ's Kuroda speaks
Earnings
Darden Restaurants (DRI)
Twitter: @MichaelSedacca
No comments:
Post a Comment