By James Langton
(June 9 – 16:35 ET) – The economic data calendar will be heavy next week. After some soft numbers and even softer comments from several U.S. Federal Reserve governors this week, economists are looking for confirmation of an economic slowing. Next week’s data should help clarify the picture one way or the other.
For the U.S. next week, there’s a retail sales report on Tuesday, consumer prices on Wednesday, capacity utilization on Thursday and housing starts Friday. All of this data could be eclipsed, however, by Fed chairman Alan Greenspan. He’s speaking on Tuesday.
Canada’s data schedule is light next week. The big news will come Tuesday morning when financial sector reform legislation will be released. Bank of Canada Governor Gordon Thiessen will be speaking on Thursday too.
A slew of data will be out in the U.K. next week, including retail sales, producer prices, the jobs report and corporate profits. Economists at CIBC World Markets say some large upside surprises would be needed to move the Bank of England off its currently stoic monetary policy.
The Bank of Japan meets Monday to consider interest rates. It’s expected that it will leave them at rock-bottom levels.