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 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
Sunday,    July 16     OVERNIGHT into US Mon. a.m. et:
         UK Rightmove July House Prices
         Singapore Jun Non-Oil Exports & Trade Balance
         China Q2 GDP, June Retail Sales, Industrial Production,  Fixed Asset Investments
         EU Foreign Affairs Council meeting (Brussels)
Monday,   July 17 NY Fed Empire State July Manufacturing Survey
EU-UK Brexit Negotiators Meet
US Treasury Auctions $39B 3-, & $33B 6-month Bills
Canada May International Securities Transactions + June Existing Home Sales
Japan Holiday
    OVERNIGHT into US Tues. a.m. et:
         New Zealand Q2 CPI
         Aussie CBA/HIA Q2 House Affordability, June Motor Vehicle Sales
         RBA (Aussie) July Rate Meeting Minutes
         Swedish Central Bank publishes Minutes of its July Policy Meeting
         ECB Survey of Professional Forecasters
         China June Property/House Prices
         ECB Bank Lending Survey
         UK Jun CPI, Retail Price Index, PPI, +May House Price Index, RPI
         Hong Kong Jun Unemployment Rate
         Eurozone Jun CPI
         Eurozonme + German ZEW July Economic Sentiment Survey Present/Future
Tuesday,  July 18 US June Import/Export Prices
Redbook weekly Store Sales Snapshot
NAHB July Housing Market Index
US Treasury Auctions $20B 52-week Bills

US May TICS (4pm et)
    OVERNIGHT into US Wed. a.m. et:
         RBA's Heath speaks (Sydney)
         Japan (F) June Machine Tool Orders
         Eurozone May Consotruction Output
         South Korea Jun PPI
         Japan Reuters July Tankan Index
         South Africa Jun CPI + May Retail Sales
Wed.        July 19 MBA Mortgage/Refinance Applications
US June Housing Starts/Building Permits
Canadian May Manufacturing Shipments/Sales
Russia June Unemployment Rate 
EIA weekly Petroleum/Gasoline/Distillate Stats
    OVERNIGHT into US Thurs. a.m. et:

        Japan June Trade Balance (Imports/Exports)
        Aussie Jun Employment/Change/ Participation +NAB Qtrly Businss Confidence
        China June M3 Money Supply, FX Net Settlement
        BoJ MPC Meeting Statement, Outlook, 10-yr Yield Target, & QE
        BoJ Kuroda post-Meeting Press Conference
(7/20 local time)
        Swiss Jun Trade Balance
        Aussie Jun Unemployment Rate/Change/Participation, RBA FX Transactions
        Japan May All Industry Activity Index
        Swiss Jun trade Balance (Imports/Exports)
        Eurozone May Current Account & Q1 Gov't Debt/Deficit
        German June PPI
        UK Jun Retail Sales
        ECB MPC Announces July Deposit & Lending Facility Rates & QE Plans
        Mario Draghi post-Meeting Press Conference  
(Frankfurt; 07/20 local time)
Thursday, July 20 US weekly Jobless Claims
Philly Fed Business + Outlook Survey
Eurozone July (Adv) Consumer Confidence
Russia Central Bank Reserves
South Africa July Interest Rate Decision/Prime Rate
EIA weekly Natural Gas Report
US Refunding Announcement includes 2-yr FRN
US Treasury  Auctions $13B 10-yr TIPS
US Money Supply & Fed Balance Sheet
    OVERNIGHT into US Fri. a.m. et:
         New Zealand Jun Credit Card Spending, RBA's Bullock speaks (Melbourne)
         New Zealand June Visitor Arrivals
         UK June Public Finances, Central Gov't NCR
         India Bank Loan & Deposit Growth
Friday,     July 21 Canada June CPI, May Retail Sales
Brazil Jun Current Account/Foreign Direct Investment
Baker-Hughes weekly US/North American Rig Count (1pm et)
Saturday, July 22

         WEEKS AHEAD:  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, w/Trump nominating one after July 4th). 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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