wall street in advance

July 2017  Economic Statistics
and Other Economic Influences

                Weekly Chain Store Sales*
                 Average Hourly Earnings*
                 API Weekly Gas/Oil Stockpiles Report*  **
Mortgage Applications  Data
                 EIA Weekly Report on Gas & Oil Stockpiles* (10a.m.)
                 Weekly Unemployment Report*
                  Weekly Mutual Fund Flows*
                   Natural Gas Storage Levels* (a.m.)

 *Except Holidays    ** As of 1/09         All Dates Subject to Change:
Sunday,    July 02     OVERNIGHT into US Mon. a.m et:
         Fed's Bullard
(board dove) keynotes BoE's Applications of Behavioural Economics, and Multiple Equilibrium Models to Macroeconomic Policy Conference. Also speaking BoE's Haldane  (London 4:35am)
         Aussie AIG June Performance of Manufacturing Index
         Aussie CoreLogic June House Price Index   
         Japan Tankan Q2 Indices & Outlook
         Japan June Official Reserve Assets, Nikkei June Manufacturing PMI
         South Korea June Nikkei Manufacturing PMI
         Singapore URA Q2 Property Index
        Aussie TD Securities June Inflation, ANZ Job Ads, May Building Approvals
        China Caixin June Manufacturing PMI
        Russia une Markit Manufacturing PMI
        India Nikkei Markit June Manufacturing PMI  
        15th ASEAN-Japan STOM Leaders Cconference (Kyoto to 07/05)
        Swiss May Retail Sales, SVME June Manufacturing PMI
        Eurozone, France, German, Italian June Manufacutring PMI
        South Africa Manufacturing PMI & June Total Vehicle Sales
        South Korea June CPI
        UK Markit June Manufacturing PMI
Monday,   July 03 US June Motor Vehicle Sales
Eurozone May Unemployment Rate
US June Manufacturing PMI
US June ISM Manufacturing Index, prices paid, new orders, employment
US May Construction Spending
US Treausry Auctions $39B 3-, & $33B 6-month Bills +$40B 4-week Bills
Canada Holiday
US Equity Markets Close 1pm
US Treasury Markets Close 2pm

     OVERNIGHT into US Tues. a.m, et:
          RBA (Aussie) MPC Rate Decision
(07/04 local time)
          BoJ June Monetary Base end of period
          Swedish Central Bank MPC Meeting , Publishes Rate Decision & Monetary Policy Report, Dpty Gov Ohlsson will participate in Riksbank "Tomorrow's repo rate decision and the future of monetary policy" (Almadalen)
          UK Markit/CIPS June Construction PMI
          Eurozone May PPI
Tuesday,  July 04 US Markets Closed, Independence Day
Canada Markit June Manufacturing PMI
    OVERNIGHT into US Wed. a.m. et:
         New Zealand June QV House Prices
         Aussie AIG June Perforomance of Services Index + May Retail Sales
         Japan Nikkei June Services & Composite PMI
         China Caixin June Services & Composite PMI
         South Korea June CPI & May Current Account + June FX Reserves
         India Nikkei June Services PMI
         South Africa Standard Bank June PMI  
         Swedish Nat'l Bank Dpty Gov Ohlsson will participate in Dagens Industry Event: "Financial Stability of the EU in 2020" (Stockholm)
         UK BRC June Shop Price Index
         Eurozone, France, Germany & Italy June Services & Composite PMI
         UK June New Car Registrations, Market/CIPS Services & Composite PMI
         Eurozone May Retail Sales + May PPI
Wed.        July 05 FOMC Releases Minutes of 06/13--14 Meeting (2pm et)
Weekly US Mortgage/Refinance Applications
Redbook weekly store sales snapshot
US (F) May Durable Goods Orders/Shipments
US May Factory Orders
Canada RBC June Manufacturing PMI
Brazil May Industrial Production + Markit Jun Services & Composite PMI
Hong Kong Jun Manufacturing PMI
    OVERNIGHT into US Thurs. a.m. et;
         Fed's Williams
speaks on "The Global Growth Slump: Causes & Consequences" @Economic Society of Australia Eminent Speaker Series (Sydney New South Wales 4am et)
        Aussie May Trade Balance
        German May Factory Orders
        Swiss June CPI
        Eurozone, French, German, Italian June Retail PMI
        ECB Publishess Account of June MPC Meeting
Thursday, July 06 Challenger June Job Cut Report
ADP June Private Sector Employment Report
US May Int'l Trade Deficit

US weekly Jobless Claims
June US Chain Store Sales
US Services PMI Index
Canada May Building Permits & Int'l Merchandise Trade Balance
Fed Gov Powell speaks on housing report at Am. Enterprise Institute (10am et)
US June Non-Manufacturing Index
Mexico Central Bank Issues Minutes of Monetary Policy Meeting (Mexico City)
Russia FX Reserves
Brazil June Auto Production/Sales
EIA weekly Petroleum Stats
US Refunding Announcement
Fed weekly Balance Sheet & US Money Supply
    OVERNIGHT into US Fri. a.m. et:
         China June FX Reserves

         Japan May Labor Cash Earnings/Overtime, +Jun FX Reserves
         Swiss June Unemployment Rate
         German May Industrial Production
         Australia June FX Reserves
         South Africa Jun FX Reserves
         Swiss June FX Reserves
         French May Current Account, Gov't Budget Balance, Industrial Production
         Italian May Retail Sales
         UK Halifax June House Prices, May Industrial & Manufacturing Production, UK May Construction Output, Visible Trade Balance
         Hong Kong June FX Reserves
         Singapore Jun FX Reservces
         India Bank Loan & Deposite Growth   
Friday,     July 07 UK NIESR June GDP
G20 Summit
(Hamburg Germany thru 8th)
US June Unemployment Report/Participation/Change
Brazil Jun CPI
Canada Jun Unemployment/Change/Participation
Canada Ivey June PMI
EIA weekly Natural Gas Report
Baker-Hughes US/North American Rig Count (1pm et)
Saturday, July 08 G20 Summit Wraps
BoE MPC Cunliffe speaks at Les Rencontreds Economiques Semina: "In search of new forms of prosperity" (Aix-en-Provence, FR)
China June Foreign Direct Investment
Sunday,    July 09 ECB's Coeure "The European Union and the Lure of Exit" @Recontres Economique
    OVERNIGHT into US Mon. a.m. et:
         New Zealand REINZ June House Sales 
         ECB's Coeure speaks (Aix-en-Province)
         Japan May Machine Orders, Current Account, Trade Balance +June Lending
         Swiss Q2 Real Estate Index of Family Homes
         China June CPI, PPI, Aggregate Financing, Money Supply, New Yuan Loans
         IMF & Croatian Central Bank Jt Conf. on Economic Convergence of the countries of central, eastern and southeastern Europe 30 FinMins & Central Bankers expected (Dubrovnik Croatia)
         German May Trade Balance, Current Account
         Eurozone Sentix July Investor Confidence
Monday,   July 10 Fed's June LMCI (Labor Market Conditions Index)
US Treasury Auctions $39B 3-, & $33B 6-month Bills
TD Ameritrade IMX (12:30pm et)
US Consumer Credit (Debt, really, 3pm et)
    OVERNIGHT into US Tues. a.m. et:

         New Zealand June Card Spending
         UK BRC Like-for-Like June Sales Monitor
         NAB (Aussie) June Business Conditions, May Home Loans, Investing Lending.
         Fed's Williams on "Speed Limits and Stall Speeds: Fostering Sustainable Growth in the US" w/Q&A (Sydney New South Wales 11pm et)
         Japan (P) June Machine Tool Orders
         Italy Industrial Production
Tuesday,  July 11 Fed Gov Brainard, JPM's Feroli, NY Fed trader Simon Potter, speak at the Joint NY Fed/Columbia Univ. "Normalizing Central Banks' Balance Sheets: What's the New Normal?" (NY)
NFIB Small Business Optimism Index
So Africa May Manufacturing Production
US May JOLTS (Job Turn over & Quits)
US May Wholesale Trade/Inventories to Sales
Canada June Hosuing Starts
US Treasury Auctions $24B 3-year Notes
Redbook weekly store sales snapshot
IRS Nationwide Tax Forum (Orlando FL)
Fed's Kashkari speaks with Q&A @Women's Economic Roundtable (Minneapolis 1:20pm et)
    OVERNIGHT into US Wed. a.m. et:
         So Korea Jun Unemployment Rate + M2 Money Supply
         Singapore May Retail Sales
         Japan June PPI + Corporate Goods Price Index
         Aussie May Credit Card Purchases/Balances
         UK June Jobless Claimant Count, + May Avg Earnings & ILO May Unemployment Rate/Change
         Eurozone May Industrial Production/Capacity Utilization
         India Jun CPI, May Industrial Production
         ECB's Villeroy de Galhau & Bundesbanl exec bd member Domret speak on G20 regulator reform at French Financial Sector Conference (Paris FR)
Wed.,       July 12 FOMC Chief Yellen Semi-Annual Testimony @House Financial Services Cmte (10am)
Fed Releases Beige Book (2pm et)
BoC (Canada) MPC Meets on Rate, Releases July Monetary Policy Report
Brazil  May Retail Sales & FX Flows
Russia May Trade Balance
Canada Teranet/National Bank Jun HPI
MBA weekly Mortgagee/Refinance Applications
EIA weekly Petroleum/Gasoline/Distillates Report
US Treasury Auctions $20B reopened 10-year Notes
BoC's Poloz & Wilkins post-MPC Meeting Press Conference
Fed's George on Eco Outlook and Fed Reserve Balance Shee
t (@ K.C. Fed Denver Branch Economic Forum  (Denver CO 2:15pm)
    OVERNIGHT into US Thurs. a.m. et:
         UK RICS June House Price Balance

         South Korea MPC July Rate Decision
         China June Trade Balance (Imports/Exports)
         German Jun Wholesale Price Index
         Aussie & New Zealand July Conusmer Confidence & Inflation Expectations
         Eurozone, French, German, Spanish   June (F) CPI  & HCIP
         Swiss June PPI & Import Prices
         South Africa May Mining & Gold Production
         UK BoE releases Credit Conditions & Bank Liabilities Survey
Thursday, July 13 FOMC Chief Yelllen Semi-Annual testimony @US Senate Bankinbg Cmte (10am)
US weekly Jobless Claims
US June PPI-Final Demand
Canada May New House Price Index
EIA weekly Natural Gas Report 
US Treasury Auctions $12B reopened 30-year Bonds
Fed's Evans keynotes the 9th Rocky Mountain Economic Summit (11:30am Victor, ID)
US Treasury Refunding Announcement
US Treasury Budget
Fed Balance Sheet, Money Supply
    OVERNIGHT into US Fri. a.m. et:
         South Korea June Import/Export Price Indexes
         New Zealand June Performance of Manufacturing Index (PMI)
         Singapore Q2 GDP
         Japan June Dept Store Sales, May Industrial Production/Capacity Utilization
         India WPI Food, Fuel, Manufacturing Inflation
         Italy May Trade Balance + Jun CPI & HICP
         India FX Reserves
         Eurozone-25 June New Car Registrations, May Trade Balance
Friday,      July 14 US June CPI
US June (Adv) Retail Sales
US June Industrial Production/Capacity Utilization
Fed's Kaplan speaks
at Center for Economic Studies of the Private Sector wQ&A (Mexico City 9:30am)
US May Business Inventories
U.M. Preliminary July Consumer Sentiment (10am et)
Baker-Hughes US/North American Rig Count (1pm et)
    OVERNIGHT into US Sat. a.m. et;
         South Korea June Trade Balance (Imports/Exports)
Saturday, July 1 5

         WEEKS AHEAD:  07/
20   ECB MPC Meets
                                                      BoJ MPC Meets
                                   07/25--26   FOMC 2-day Meeting                                               

*FOMC 2017 Voting Members:  Four governors on the FOMC are permanent voters: Janet Yellen, Stanley Fischer, Lael Brainard, Jay Powell. Dan Tarullo was the 5th.vote at every meeting but he retired from the Board. (Board Governors now endure 3 vacancies that Trump hasn't filled). NY Fed Pres.Wm Dudley also a permanent FOMC voting member. The rest of the voters, in 2017, are 5 of the 11 regional Fed Pres.:New voters, for 2017: Philly Fed Pres. Patrick Harker, Minneapolis Fed Pres Neel "Too Big to Fail" Kashkari, Dallas Fed's Robert Kaplan, and Chicago Fed Pres Charles Evans.  Evans was last a voter in 2015. The other 3 are voters for the first time. Loretta Mester (Cleveland), Eric Rosengren (Boston), James Bullard (St. Louis) and Esther George (Kansas City) have lost their votes in 2017. In an Oct. speech, Harker said he would have preferred if rates had been raised at the prior FOMC meeting. Kaplan was a 23-yr veteran of Goldman Sachs before winding up at Harvard Business School. Mester & George are hawks that dissented at several 2016 meetings until the 2016 rate hike announced 12/14 but aren't voters in 2017.  Richmond Fed's Jeff Lacker resigned in early April 2017, when it became known he'd leaked sensitive FOMC discussions to Medley Advisors. Richmond is operating with an Interim Pres, Mark L Mullinix, while the search for a new leader continues. Raphael Bostic replaced Dennis Lockhart at the Atlanta Fed, when Lockhart left.

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