Next Week's Memo

January 19 (Monday)

U.S. markets closed for holiday

Australia's December TD-MI inflation index month-on-month: previous value up 0.3%

Australia's December TD-MI inflation index year-on-year: previous value up 3.2%

Japan's November core machinery orders month-on-month: forecast down 5.2%; previous value up 7%

Japan's November core machinery orders year-on-year: forecast up 3.7%; previous value up 12.5%

Japan's November industrial production month-on-month final value: initial value down 2.6%

Japan's November industrial production year-on-year final value: initial value down 2.1%

Japan's November capacity utilization index month-on-month: previous value up 3.3%

Japan's November tertiary industry activity index month-on-month: forecast no change; previous value up 0.9%

UK's January Rightmove house asking price index month-on-month: previous value down 1.8%

UK's January Rightmove house asking price index year-on-year: previous value down 0.6%

China's Q4 GDP year-on-year: forecast up 4.5%; previous value up 4.8%

China's Q4 seasonally adjusted GDP quarter-on-quarter: forecast up 1.1%; previous value up 1.1%

China's full-year GDP year-on-year: forecast up 5%

China's December total retail sales of consumer goods year-on-year: forecast up 1.1%; previous value up 1.3%

China's December industrial added value year-on-year: forecast up 5%; previous value up 4.8%

China's full-year urban fixed asset investment year-on-year: forecast down 3.1%; previous value down 2.6%

China's December urban surveyed unemployment rate: forecast 5.2%; previous value 5.1%

Eurozone's December HICP year-on-year final value: initial value up 2%

Eurozone's December HICP month-on-month final value: initial value up 0.2%

Eurozone's December core inflation year-on-year final value: initial value up 2.3%

Canada's December CPI month-on-month: forecast down 0.4%; previous value up 0.1%

Canada's December CPI year-on-year: forecast up 2.2%; previous value up 2.2%

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January 20 (Tuesday)

China's January one-year and five-year loan market quoted interest rates are expected to remain unchanged at 3% and 3.5% respectively

New Zealand's December services PSI: previous value 46.9

New Zealand's December BNZ manufacturing PMI: previous value 56.1 South Korea's PPI year-on-year in December last year: previous value increased by 1.9%

Germany's PPI month-on-month in December last year: previous value unchanged

Germany's PPI year-on-year in December last year: previous value decreased by 2.3%

UK's average wage year-on-year for the three months ending in November last year, including bonuses: previous value increased by 4.7%

UK's ILO unemployment rate for the three months ending in November last year: forecast 5%; previous value 5.1%

UK's unemployment rate in December last year: previous value 4.4%

Taiwan's export orders year-on-year in December last year: forecast increase of 36.3%; previous value increased by 39.5%

Hong Kong's latest unemployment rate: forecast 3.8%; previous value 3.8%

Switzerland's producer and import prices month-on-month in December last year: previous value decreased by 0.5%

Italy's current account in November last year: previous value surplus of 3.532 billion euros

Eurozone's seasonally adjusted current account in November last year: previous value surplus of 25.7 billion euros

Eurozone's ZEW economic sentiment index for January: previous value 33.7

Germany's ZEW economic sentiment index for January: forecast 50; previous value 45.8

Germany's ZEW economic situation index for January: previous value negative 81

Earnings announcements: Netflix (NFLX.US), 3M Company (MMM.US), U.S. Bancorp (USB.US), Fastenal (FAST.US), United Airlines (UAL.US); New City Services (01755.HK)

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January 21 (Wednesday)

Bank Indonesia's monetary policy meeting, expected to maintain the benchmark interest rate at 4.75%

Australia's Westpac leading index month-on-month in December last year: previous value decreased by 0.04%

UK's CPI month-on-month in December last year: forecast to increase by 0.3%; previous value decreased by 0.2%

UK's CPI year-on-year in December last year: forecast to increase by 3.3%; previous value increased by 3.2%

UK's core CPI year-on-year in December last year: forecast to increase by 3.3%; previous value increased by 3.2%

UK's retail price index month-on-month in December last year: previous value decreased by 0.4%

UK's retail price index year-on-year in December last year: previous value increased by 3.8%

Switzerland's M3 money supply year-on-year in December last year: previous value increased by 4.8%

U.S. MBA mortgage application numbers last week: previous value increased by 28.5%

U.S. leading economic index month-on-month in December last year: previous value revised to decrease by 0.3%

U.S. construction spending month-on-month in October last year: forecast to increase by 0.1% U.S. December existing home sales index month-on-month: Previous value increased by 3.3%

Canada's December industrial product price index month-on-month: Previous value increased by 0.9%

Earnings announcements: Johnson & Johnson (JNJ.US), Travelers Group (TRV.US); Life Insurance Corporation of China (02136.HK)

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January 22 (Thursday)

Bank Negara Malaysia's monetary policy meeting, expected to maintain the benchmark interest rate at 2.75%

South Korea's Q4 GDP quarter-on-quarter preliminary value: Forecasted to increase by 0.3%; Previous value increased by 1.3%

South Korea's Q4 GDP year-on-year preliminary value: Forecasted to increase by 1.9%; Previous value increased by 1.8%

Japan's December unadjusted goods trade balance: Forecasted surplus of 369.2 billion yen; Previous value revised to a surplus of 316.7 billion yen

Japan's December adjusted goods trade balance: Forecasted to turn into a deficit of 800 million yen; Previous value surplus of 62.9 billion yen

Australia's December employment change: Forecasted to increase by 25,600; Previous value decreased by 21,300

Australia's December adjusted unemployment rate: Forecasted at 4.4%; Previous value increased to 4.3%

Australia's December labor force participation rate: Forecasted at 66.8%; Previous value 66.7%

Taiwan's December unemployment rate: Previous value 3.35%

Hong Kong's December CPI year-on-year: Forecasted to increase by 1.2%; Previous value increased by 1.2%

UK's December public finance deficit: Previous value £11.7 billion

U.S. last week's new unemployment claims: Previous value 198,000

U.S. Q3 real GDP annualized quarter-on-quarter final value: Forecasted to increase by 4.3%; Preliminary value increased by 4.3%

U.S. Q3 real personal consumption expenditures quarter-on-quarter final value: Preliminary value increased by 3.5%

U.S. Q3 GDP price index final value: Preliminary value increased by 3.8%

U.S. Q3 core PCE price index quarter-on-quarter final value: Preliminary value increased by 2.9%

U.S. November personal income month-on-month: Forecasted to increase by 0.4%

U.S. November personal spending month-on-month: Forecasted to increase by 0.5%

U.S. November PCE price index month-on-month: Forecasted to increase by 0.2%

U.S. November PCE price index year-on-year: Forecasted to increase by 2.7%

U.S. November core PCE price index month-on-month: Forecasted to increase by 0.2%

U.S. November core PCE price index year-on-year: Forecasted to increase by 2.8%

Eurozone January consumer confidence index preliminary value: Forecasted at -12.8; Previous value -13.1 Earnings Release: Procter & Gamble (PG.US), GE Aerospace (GE.US), Abbott (ABT.US), Intel (INTC.US), Alcoa (AA.US), Intuitive Surgical (ISRG.US)

First Day Listing: LongiTech Smart Energy (09611.HK)

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January 23 (Friday)

The Bank of Japan announces the results of its monetary policy meeting, expected to keep the benchmark interest rate unchanged at 0.75%.

New Zealand's Q4 CPI quarter-on-quarter: forecast to rise 0.5%; previous value rose 1%.

New Zealand's Q4 CPI year-on-year: forecast to rise 3%; previous value rose 3%.

Australia's January S&P Composite PMI preliminary: previous value 51.

Australia's January S&P Manufacturing PMI preliminary: previous value 51.6.

Australia's January S&P Services PMI preliminary: previous value 51.1.

South Korea's January Consumer Confidence Index: previous value 109.9.

Japan's December national CPI year-on-year: forecast to rise 2.1%; previous value rose 2.9%.

Japan's December national core CPI year-on-year: forecast to rise 2.4%; previous value rose 3%.

Japan's January S&P Composite PMI preliminary: previous value 51.1.

Japan's January S&P Manufacturing PMI preliminary: previous value 50.

Japan's January S&P Services PMI preliminary: previous value 51.6.

UK's January GfK Consumer Confidence Index: forecast negative 16; previous value negative 17.

India's January HSBC Composite PMI preliminary: previous value 57.8.

India's January HSBC Manufacturing PMI preliminary: previous value 55.

India's January HSBC Services PMI preliminary: previous value 58.

Singapore's December CPI year-on-year: forecast to rise 1.2%; previous value rose 1.2%.

Taiwan's December industrial production year-on-year: forecast to rise 12%; previous value rose 16.42%.

UK's December seasonally adjusted retail sales month-on-month: forecast to rise 0.2%; previous value fell 0.1%.

UK's December seasonally adjusted retail sales year-on-year: previous value rose 0.6%.

UK's December seasonally adjusted core retail sales month-on-month: previous value fell 0.2%.

UK's December seasonally adjusted core retail sales year-on-year: previous value rose 1.2%.

UK's January S&P Services PMI preliminary: forecast 51.6; previous value 51.4.

UK's January S&P Manufacturing PMI preliminary: forecast 50.5; previous value 50.6 UK January S&P Composite PMI Preliminary: Forecast 51.5; Previous 51.4

France January INSEE Business Confidence Index: Previous 99

France January INSEE Manufacturing Confidence Index: Previous 102

France January HCOB Manufacturing PMI Preliminary: Previous 50.7

France January HCOB Services PMI Preliminary: Previous 50.1

France January HCOB Composite PMI Preliminary: Previous 50

Germany January HCOB Services PMI Preliminary: Forecast 52.2; Previous 52.7

Germany January HCOB Composite PMI Preliminary: Previous 51.3

Germany January HCOB Manufacturing PMI Preliminary: Forecast 48.4; Previous 47

Eurozone January HCOB Manufacturing PMI Preliminary: Forecast 49.5; Previous 48.8

Eurozone January HCOB Services PMI Preliminary: Forecast 52.4; Previous 52.4

Eurozone January HCOB Composite PMI Preliminary: Forecast 52; Previous 51.5

US January S&P Manufacturing PMI Preliminary: Forecast 52; Previous 51.8

US January S&P Services PMI Preliminary: Forecast 52.8; Previous 52.5

US January S&P Composite PMI Preliminary: Previous 52.7

US January University of Michigan Consumer Sentiment Index Final: Forecast 54; Preliminary 54

Canada November Retail Sales Month-on-Month: Forecast to rise 1.2%; Previous decrease 0.2%

Canada November Core Retail Sales Month-on-Month: Forecast to rise 1.2%; Previous decrease 0.6%