U.S. Jobs, Fed, ECB, BOE, NATO, Abe: Week Ahead Aug. 30-Sept. 6
Aug. 29 (Bloomberg) -- Employers in the U.S. added workers at a faster pace in August and the jobless rate declined, a report next week may show.
U.S. manufacturing may have been near the highest level in more than three years in August, while service industries probably expanded at almost the fastest pace since December 2005.
Federal Reserve policy makers will make speeches as the central bank weighs its first interest-rate increase since 2006. Rate decisions will be made in Australia, Brazil, Canada, the euro area, Japan, Sweden and the U.K.
European Union leaders and foreign ministers meet. The North Atlantic Treaty Organization holds a two-day summit.
Japanese Prime Minister Shinzo Abe will shuffle his cabinet.
The U.S. Open tennis tournament reaches its final stages in New York.
SATURDAY, AUG. 30
-Ukrainian President Petro Poroshenko meets European Union President Herman Van Rompuy at 10:00 CET in Brussels (04:00 EDT).
-EU foreign-policy chief Catherine Ashton and Italian Foreign Minister Federica Mogherini give a news briefing after a meeting of EU foreign ministers. The conflicts in Libya and Ukraine, as well as military aid to Iraq, are likely to be discussed. 12:00 CET in Milan (06:00 EDT).
-EU leaders meet to appoint a new president and foreign-policy chief. Discussion of the Ukraine crisis is also likely. 16:00 CET in Brussels (10:00 EDT).
-College Football. Top-ranked Florida State University starts the defense of its national title (20:00 EDT). Second-ranked Auburn University opens the season at home against the University of Arkansas (16:00 EDT).
-Tennis. The U.S. Open, the last of the four annual tennis Grand Slam tournaments, continues at the National Tennis Center in New York. Through Sept. 8.
SUNDAY, AUG. 31
-German Finance Minister Wolfgang Schaeuble answers questions at the government’s annual open house for the public. A news conference is scheduled for 13:00 CET in Berlin (07:00 EDT), with further remarks from the Finance Ministry at 14:15 CET (08:15 EDT).
-State election in Saxony, an eastern German region governed by Chancellor Angela Merkel’s Christian Democrats. It’s the first regional election in Germany since Merkel won a third term 11 months ago. The first projections are due when polls close at 18:00 CET in Dresden (12:00 EDT).
MONDAY, SEPT. 1
-NATO Secretary General Anders Fogh Rasmussen holds a news conference before the alliance’s Sept. 4-5 summit. 13:00 CET in Brussels (07:00 EDT).
-Germany’s Merkel gives a speech to lower-house lawmakers on the government’s plans to supply weapons to Kurdish forces in northern Iraq. Scheduled for 14:00 CET in Berlin (08:00 EDT).
-China’s official manufacturing purchasing managers’ index may have fallen in August, putting pressure on the world’s second-largest economy as it tries to meet its growth target this year. 09:00 in Beijing (08/31 21:00 EDT).
-Japan announces capital spending data for the second quarter, which will be used to revise GDP figures due to be released on Sept. 8. The economy shrank an annualized 6.8% in the period, provisional figures showed. 08:50 in Tokyo (08/31 19:50 EDT).
-Indian Prime Minister Narendra Modi meets with Japanese Prime Minister Shinzo Abe as the two countries seek to strengthen economic and security ties in the face of China’s growing assertiveness in Asia. Japan and India are embroiled in territorial disputes with China.
-Iranian Foreign Minister Mohammad Javad Zarif will be in Brussels for a meeting with EU foreign-policy chief Ashton ahead of the resumption of nuclear talks later in September. 10:00 CET (04:00 EDT).
-Estonian Finance Minister Juergen Ligi speaks on his country’s economic outlook at a news conference following the release of new government forecasts. 11:05 in Tallinn (04:05 EDT).
-U.S. Labor Day holiday. Canadian markets are also closed.
-ECONOMY: Brazil trade balance (Aug.), Peru inflation (Aug.), South Korea trade data (Aug.), South Africa manufacturing PMI (Aug.), South Africa business confidence (Aug.), Greek GDP (second quarter), Swiss PMI manufacturing (Aug.), U.K. manufacturing PMI (Aug.), U.K. mortgage approvals (July), German GDP (second quarter), Markit euro-area manufacturing PMIs (Aug.), Latvia GDP (second quarter), Estonia unemployment (Aug.), Turkey manufacturing PMI (Aug.).
-CENTRAL BANKS: Egypt rate decision.
-Golf. The Deutsche Bank Championship concludes at TPC Boston in Norton, Massachusetts. The top 70 players in the FedEx Cup standings at the end of the tournament advance to the third round of the U.S. PGA Tour playoffs. Tee times and pairings to be determined.
TUESDAY, SEPT. 2
-U.S. manufacturing probably was near the highest level in more than three years in August, indicating factories are helping the economy. The Institute for Supply Management will release its data at 10:00 in Washington.
-Polish Prime Minister Donald Tusk hosts a three-day international economic forum in Krynica. The speakers include Tusk, Slovak Prime Minister Robert Fico and business executives from across eastern Europe, including Ukraine.
-Mexican President Enrique Pena Nieto delivers his second State of the Nation address and may announce infrastructure projects including a new airport for the capital. Pena Nieto’s approval ratings fell to 51 percent in May from 57 percent a year earlier, a Pew poll showed. 12:00 in Mexico City (13:00 EDT).
-Bank Leumi Le-Israel Ltd. CEO Rakefet Russak-Aminoach, Israeli Finance Minister Yair Lapid and Bank of Israel Governor Karnit Flug speak at the Calcalist conference in Tel Aviv at 09:00 (02:00 EDT).
-U.S. government bond auctions, Fed debt purchases weekly schedule.
-Detroit bankruptcy arguments. U.S. Bankruptcy Judge Steven Rhodes will hear rescheduled arguments on the city’s plan to exit the largest U.S. municipal bankruptcy. 08:30 at the U.S. Bankruptcy Court, Detroit.
-Computer Entertainment Developers Conference opens in Yokohama, Japan. Speakers include Shuhei Yoshida, president of Sony Computer Entertainment Inc.’s Worldwide Studios.
-ECB Governing Council member Klaas Knot speaks in The Hague. Time to be determined.
-ECONOMY: Brazil industrial production (July), South Korea consumer price data (Aug.), Bank of Japan monetary base (Aug.), Japan wages data (July), Swiss GDP (second quarter), U.K. construction PMI (Aug.), Romania retail sales (July).
-CENTRAL BANKS: Australia rate decision.
WEDNESDAY, SEPT. 3
-Japans’ Abe shuffles his cabinet for the first time since coming to power almost two years ago as he seeks to reverse a dip in opinion polls. Time to be decided.
-Australia GDP. Economic growth may have slowed in the second quarter to less than half the 1.1 percent pace of the first three months of 2014, when exports and housing construction boosted output. 11:30 in Sydney (09/02 21:30 EDT).
-Bank of Canada rate decision. Economists unanimously forecast that policy makers will leave the benchmark lending rate at 1 percent, where it’s been for four years. Investors will see if the bank’s statement continues to focus on weak growth, even with inflation above its 2 percent target. 10:00 in Ottawa.
-Fed Beige Book. This survey, based on reports from the 12 regional banks of the Federal Reserve system, will give the Federal Open Market Committee anecdotal information about the economy before its Sept. 16-17 meeting. 14:00 in Washington.
-Brazil rate decision. Banco Central do Brasil may keep borrowing costs unchanged at 11 percent for a third straight meeting as inflation hovers near the top of policy makers’ target range amid decelerating economic growth. 19:00 in Brasilia (18:00 EDT).
-U.S. President Barack Obama is scheduled to meet Estonian President Toomas Ilves and his Baltic counterparts in Tallinn. Obama will give a speech after the meetings. Timing to be determined.
-Russian President Vladimir Putin visits Mongolia and meets President Tsakhia Elbegdorj in the capital, Ulaanbaatar. Time to be determined.
-Startup Asia Tokyo conference opens in Tokyo, showcasing new technology companies. Speakers include Taizo Son, chairman of GungHo Online Entertainment Inc., Tomoko Namba, founder of DeNA Co., and Yoshikazu Tanaka, president of Gree Inc.
-Robin Li, CEO of Baidu Inc., outlines his views to developers at the company’s annual conference in Beijing.
-Reserve Bank of Australia Governor Glenn Stevens gives a speech in Adelaide. 12:50 local time (09/02 23:20 EDT).
-Nigerian government spokesman Mike Omeri and other officials give reporters an update on security in the northeast. 14:00 in Abuja (09:00 EDT).
-Nigerian Information Minister Labaran Maku and other lawmakers brief reporters at the end of the weekly cabinet meeting. 15:00 in Abuja (10:00 EDT).
-ECB Executive Board member Sabine Lautenschlaeger gives a speech in Frankfurt. 11:30 CET (05:30 EDT).
-ECONOMY: U.S. vehicle sales (Aug.), U.S. factory orders (July), China non-manufacturing PMI (Aug.), China HSBC Services PMI (Aug.), U.K. services PMI (Aug.), Markit euro-area services and composite PMIs (Aug.), euro-area GDP (second quarter), Slovakia GDP (second quarter), Romania GDP (second quarter), Turkey inflation (Aug.).
-CENTRAL BANKS: Kenya rate decision.
THURSDAY, SEPT. 4
-European Central Bank rate decision. ECB President Mario Draghi has signaled that large-scale asset purchases may be needed to defend the euro region against deflation. The decision comes at 13:45 CET in Frankfurt (07:45 EDT). Draghi will speak at a press conference at 14:30 CET (08:30 EDT).
-Bank of England interest-rate decision. Governor Mark Carney lost his consensus on interest rates last month as two of nine policy makers broke ranks and voted to raise the key rate from a record-low 0.5 percent. In his revamped guidance, Carney has said officials will put increasing weight on wage data before deciding whether to increase borrowing costs. 12:00 in London (07:00 EDT).
-NATO leaders start a two-day summit. The alliance’s future role in Afghanistan and the Ukraine crisis are the first day’s topics. About 12:00 (07:00 EDT) in Newport, Wales.
-Bank of Japan announces monetary policy after a two-day meeting. Governor Haruhiko Kuroda said the bank will continue policy accommodation until the price stability target of 2 percent inflation is achieved, and would adjust policy if Japan fell short of that goal. About 12:00 in Tokyo (09/03 23:00 EDT). Kuroda will speak at a press conference at 15:30 in Tokyo (02:30 EDT).
-Argentine lawmakers will vote on a local debt-swap bill that would allow the nation to replace its bond trustee, Bank of New York Mellon Corp., and to pay foreign bondholders locally. Time to be determined.
-Fed speakers. Federal Reserve Governor Jerome Powell and two of his colleagues speak at separate events as the central bank weighs the timing of its first interest-rate increase since 2006. Powell speaks at a Money Marketeers event in New York, Cleveland Fed President Loretta Mester is at the Economic Club of Pittsburgh and Minneapolis Fed President Narayana Kocherlakota hosts a town hall meeting in Helena, Montana.
-The U.S. trade deficit probably widened in July as stronger domestic demand prompted companies to import more from overseas, economists project the Commerce Department will report. 08:30 in Washington.
-South Korea announces a final reading of second-quarter GDP, with the preliminary data showing the economy grew 3.6 percent from a year earlier. 09:00 in Seoul (09/03 20:00 EDT).
-U.S. service industries such as retailers and builders probably expanded in August at near the fastest pace since December 2005. The Institute for Supply Management will issue its index at 10:00 in Washington.
-Sweden’s Riksbank will announce its latest interest-rate decision and issue new economic forecasts at 09:30 CET in Stockholm (03:30 EDT). Riksbank Governor Stefan Ingves will answer questions on the decision at an 11:00 CET press conference.
-ECB Supervisory Board Chair Daniele Nouy speaks in Brussels. 11:00 CET (05:00 EDT).
-ECB Chief Economist Peter Praet speaks in Cernobbio, Italy. 11:00 CET (05:00 EDT).
-The U.S. Energy Information Administration releases its weekly natural gas supply report. 10:30 in Washington.
-ECONOMY: ADP U.S. employment (Aug.), Challenger U.S. job cuts (Aug.), German factory orders (July), Czech retail sales (July), Russia CPI (Aug.).
-NFL. The Seattle Seahawks begin defending their Super Bowl title by hosting the Green Bay Packers in the opening game of the National Football League’s regular season. 20:30 EDT.
-Bloomberg Sports Business Summit. NBA Commissioner Adam Silver, Carmelo Anthony of the New York Knicks, NHL Commissioner Gary Bettman and Marc Lasry, the new owner of the Milwaukee Bucks, are among speakers. 08:00 in New York.
-Golf. The BMW Championship begins at Cherry Hills Country Club in Cherry Hills Village, Colorado, featuring the top 70 players in the FedEx Cup standings. Tee times and pairings to be determined. Through Sept. 7.
FRIDAY, SEPT. 5
-U.S. jobs report. Employers in the U.S. probably added jobs at a faster pace in August and the jobless rate declined as the economy began to hit its stride. The Labor Department report is released two weeks before the Federal Reserve’s next monetary policy meeting. 08:30 in Washington.
-NATO leaders hold the second day of their summit, discussing topics including defense spending and Iraq. Starts at about 09:00 (04:00 EDT) in Newport, Wales.
-Canada employment. Statistics Canada’s report for August comes after the agency retracted and corrected its July figures, turning a net gain of 200 jobs into 41,700. 08:30 in Ottawa.
-ECONOMY: Brazil inflation (Aug.), Colombia inflation (Aug.), Taiwan inflation (Aug.), South Africa gross and net reserves (both for Aug.), Nigeria trade balance (second quarter), Swiss foreign currency reserves (Aug.), German industrial production (July), France consumer confidence (Aug.), Estonia CPI (Aug.), Hungary industrial production (July), Ukraine CPI (Aug.).
-CENTRAL BANKS: Mexico rate decision.
-SOVEREIGN RATING UPDATES: Congo (Moody’s), ESM (Fitch), Gabonese Republic (S&P), Liechtenstein (S&P), Lithuania (Moody’s), Malta (Moody’s), Portugal (Moody’s), Romania (Fitch), Saudi Arabia (Fitch).
SATURDAY, SEPT. 6
-Japan’s Abe arrives in Bangladesh for a two-day visit, during which the countries may announce a special economic zone for Japanese investors. Itinerary to be decided.
-Gas talks will take place between the European Union, Russia and Ukraine. The details are due to be confirmed on Aug. 29 at a bilateral EU-Russia meeting in Moscow.
-U.S. Open men’s singles semifinals take place.
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