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A Look At Key Global Events In The Upcoming Week

Tyler Durden's picture




 

Goldman lists the key economic events in the upcoming week, which will likely be dominated by news of the surreal IMF scandal that has taken the financial world by storm.

Last week’s flow of cyclical data was broadly encouraging. However, cyclical currencies traded weak against the USD. In addition, the Greece situation stood at the forefront of market attention. This week will offer us more on that front with the Ecofin/Eurogroup meetings on Monday. Other than that, we have important cyclical data this week with the Philly Fed on Thursday standing out as the key forward-looking indicator. It will also be interesting to watch trends in initial claims, which has been volatile recently. Finally, Fed Chairman Dudley’s speech will be interesting to follow, together with FOMC minutes.

Monday May 16th:

Ecofin/Eurogroup meeting will be key to watch in terms of ongoing developments in the management of the Greek crisis.

US May Empire Manufacturing Survey. The week starts with one of the interesting regional manufacturing surveys in the US. Consensus expects a moderate decline to 20 from 21.7.

Hungary Monetary Policy Meeting. We do not expect rate hikes from the NBH, in line with consensus.

Also interesting: US May Home Builders Survey May, TIC DATA, Poland March Current Account.

Tuesday May 17th:

UK April CPI. We will watch UK inflation data closely in order to assess the likelihood of tighter financial conditions in the UK going forward. For the next CPI release, GS expects a print of about 0.7%, slightly below consensus of 0.8%.

US Housing Starts. We expect housing starts in April to have increased by 5% mom vs consensus expectations of 3.8%.
US IP: We expect IP to have increased by 0.5%mom in April, close to consensus expectations of 0.4% mom.

Also interesting: Australia RBA minutes, South Africa April CPI, Apr & March Retail Sales.

Wednesday May 18th:

UK MPC Minutes: Watching the ongoing developments in the balance of opinions within the MPC and the assessments on growth and inflation dynamics will be key in order to assess the balance of risks to rates, which will also be significant for price action in the GBP as well.

US FOMC Minutes will likely provide more insight into the balance of opinions within the FOMC.

Fed Speakers: St Louis Fed Pres Bullard

Also interesting: Japan Tankan, Malaysia CPI Apr, GDP Q1

Thursday May 19th:

US Philadelphia Fed. Philly Fed is among the key leading indicators ahead of the ISM and a significant input to our own Global Leading Indicators. We expect a rebound from last month’s low print of 18.5. This month will likely come in at 22, mildly above consensus of 20.

US Jobless claims

Fed Speakers: NY Fed Pres Dudley

Also interesting: US April Existing Home Sales

 

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Sun, 05/15/2011 - 15:17 | 1276769 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

... It's like a repetitive nightmare that never ends.

Sun, 05/15/2011 - 15:20 | 1276775 Hugh G Rection
Hugh G Rection's picture

Friday May 20th:

 

NWO to stage false flag terror event in Jerusalem.

 

 

Sun, 05/15/2011 - 15:30 | 1276807 Scottj88
Scottj88's picture

IMF story means smoething big is coming.  If they did not want this to come out, it would not have hit the controlled disinformation media.  Distracting the masses while the next major event happens, classic.  Stories to distract the public while unvents unfold guarenteeing economic austerity for all the trusting masses.  Amazing display of controlling human psychology.

Sun, 05/15/2011 - 15:36 | 1276817 Hugh G Rection
Hugh G Rection's picture

I agree.

 

BeckAdict Arnold just returned from Israel and has been foreshadowing something big will happen soon. 

Combined with this, http://www.reuters.com/article/2011/05/15/us-palestinians-palestinians-idUSTRE74E1NT20110515

 

= Big Trouble Little China

Sun, 05/15/2011 - 15:46 | 1276841 JW n FL
JW n FL's picture
by Hugh G Rection
on Sun, 05/15/2011 - 15:36
#1276817

 

I agree.

 

BeckAdict Arnold just returned from Israel and has been foreshadowing something big will happen soon. 

Combined with this, http://www.reuters.com/article/2011/05/15/us-palestinians-palestinians-idUSTRE74E1NT20110515

*****************************************************************

***** "That shooting took place in the tense neighborhood of Silwan in East Jerusalem, where violence regularly breaks out between Palestinian stone throwers and Israeli police and Jewish settlers." *****

 

You damn kids get off my lawn with those rocks or I will break out my m-16 and mow you down, again!

Sun, 05/15/2011 - 16:01 | 1276878 PY-129-20
PY-129-20's picture

EGYPT

http://english.ahram.org.eg/NewsContent/1/64/12191/Egypt/Politics-/Egypt...

The demonstrators in Tahrir waved Palestinian flags as they listened to speeches denouncing Israel and chanted in support of Palestinians. Pointing to the Israeli flag, protesters chanted “Bring it down, Burn it!

http://www.dailystar.com.lb/News/Middle-East/2011/May-14/Thousands-call-for-unity-in-Cairos-Tahrir-Square.ashx#ixzz1MS9jlLbn
 
Sun, 05/15/2011 - 17:30 | 1277142 JW n FL
JW n FL's picture

the muslim brotherhood has been giving the christians a hard time over there too... just like everyone said would happen..

 

the muslim brotherhood has an entrenched political presence.. pre-over throw.. and then afterwards the new law chages and expedited the voting process which ensured the win for the muslim brotherhood.

 

I am waiting for the Obama Administration to completely leave the Christians in Egypt hanging.. at which point I will charter a jet and fly over with some friends and start my own private crusade.

 

This world is such a joke any way! why not?

Mon, 05/16/2011 - 02:52 | 1278329 Hugh G Rection
Hugh G Rection's picture

Fuck it. I'm in brother.

How do I get my ar50 through customs? This fucked corrupt world needs a dose of justifiable retribution.

Sun, 05/15/2011 - 15:20 | 1276780 Global Hunter
Global Hunter's picture

And the US Army Corps of Engineers would like take this opportunity to remind you that they are confident the dykes and levees along the Mississippi are engineered to withstand the additional pressure of the flood surge. 

Sun, 05/15/2011 - 15:20 | 1276782 falak pema
falak pema's picture

whats not on the agenda is how and who will they save the euro group. Now that superman is likely to be behind bars/side tracked.

Sun, 05/15/2011 - 15:33 | 1276808 Hugh G Rection
Hugh G Rection's picture

Superman can't help us now.  He's in a wheelchair.

 

Sun, 05/15/2011 - 16:05 | 1276897 JohnG
JohnG's picture

And dead to boot.....

Sun, 05/15/2011 - 15:30 | 1276803 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

Canadians Banished at the U.S. Border: Ensnared in customs hassles post 9/11...

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/05/banished-at-b...

Sun, 05/15/2011 - 15:52 | 1276857 JW n FL
JW n FL's picture

I went to Canada for Canadian Thanks Giving! went back for Christmas with an un-paid traffic ticket from Florida that I had forgoten about.. I was turned around and sent back to the U.S.! Good I am glad Canadian's are getting the Hard Time that they give out! and all this after the cross boarder millitary deal between the U.S. and Canada. http://goo.gl/wNji8

Sun, 05/15/2011 - 15:41 | 1276827 lolmao500
lolmao500's picture

US congress raises debt ceiling without any cuts.

Sun, 05/15/2011 - 15:45 | 1276849 boooyaaaah
boooyaaaah's picture

Dont forget the Invasion of Israel

And

The promised (dont bet your bibby) new oil wells on the Atlantic And Alaska range to offset the Oil Spike set off by the Invasion.

 

Sun, 05/15/2011 - 15:54 | 1276863 MrBinkeyWhat
MrBinkeyWhat's picture

The Morganza Spillway has the potential to be the next "Black Swan". This is an artificial barricade that has prevented the Mississippi River from heading straight south for over 40 years. "Google it". The COE is opening it very slowly because they are not sure that they can close it after it is open. Can you say Nuclear power plants with no water...NOLA high and dry.

Sun, 05/15/2011 - 16:31 | 1276974 Muir
Muir's picture

_

BTFDs

_

If the news is inflationary-----> buy silver

If the news is deflationary----> buy silver

(because if the news is deflationary, that only means imminent QE(n +1)

__

People get with it.

 

COMEX

MINY SILVER SymbolQI

Exchange NYMEX

Contract Type Futures

Country/Region United

Contract Identifiers

Trading Date2 8/11/2011

Expiration Date28/11/2011

Multiplier2500

Margin Requirements

Intraday Initial Margin 15,280

Intraday Maintenance Margin8,000

__

fuck it people buy

 

Sun, 05/15/2011 - 17:44 | 1277176 A Man without Q...
A Man without Qualities's picture

Fukushima reality can no longer be hidden - this is the elephant in the room...

http://www.marketwatch.com/story/substantial-damage-to-2-more-fukushima-...

Sun, 05/15/2011 - 22:05 | 1277813 avonaltendorf
avonaltendorf's picture

Agree. Three reactor vessels leaking. Two more cities evacuated more than 30 km from Daiichi site. Impossible to get workers close enough to "repair" deadly reactors measured at 2Sv/hr. No that's not a typo. 2000mSv/hr. Cold shutdown ain't gonna happen.

http://oilgeology.blogspot.com/2011/05/fukushima-evacuation-zone-widened.html

Mon, 05/16/2011 - 04:43 | 1278394 Monedas
Monedas's picture

How about "Fukushima Nuclear Medicine Research Facility" as a name change ? Any stock plays you can recommend i.e. robotics, drones, radiation detectors and kits, COAL MINES ? Monedas 2011 Meltdown Magic Tour

Sun, 05/15/2011 - 18:16 | 1277272 TexDenim
TexDenim's picture

Don't forget DSK rape enquiry in New York. That may spook Euro markets.

Mon, 05/16/2011 - 04:06 | 1278370 Monedas
Monedas's picture

When the SHTF and we "One Per Centers" own all the private Au and Ag........we will all have the "half life" of a Coptic Christian in Cairo ! Monedas 2011 Have a Jolly Jihad

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