U.S. Retail Sales, Euro-Area GDP, BOE, UBS: Week Ahead Feb. 7-14
(Bloomberg) -- Retail sales in the U.S., where consumer spending accounts for almost 70 percent of the economy, fell in January for a second month, data in the coming week may show.
U.S. consumer sentiment probably held close to an 11-year high.
The euro area will release gross domestic product figures for the fourth quarter and the Bank of England will give its outlook for the U.K. economy in its Inflation Report.
Group of 20 finance ministers and central bank governors meet in Istanbul for a two-day summit.
European Union leaders hold a summit in Brussels. Nigerian presidential elections will take place.
Companies releasing earnings include UBS Group AG, American International Group Inc., Cisco Systems Inc., ArcelorMittal, Christian Dior SA and Coca-Cola Co.
The Grammy Awards ceremony takes place in Los Angeles.
SATURDAY, FEB. 7
-U.S. Secretary of State John Kerry continues his participation at a security conference in Munich where he will hold bilateral meetings, including with Russian Foreign Minister Sergei Lavrov. Through Feb. 8.
-Japanese Prime Minister Shinzo Abe will be among speakers at an annual event calling for the return of the Northern Territories, islands north of Hokkaido known in Russia as the Kurils. 11:20 in Tokyo (02/06 21:20 EST).
-The Six Nations rugby tournament continues with Italy against Ireland at 15:30 CET in Rome (9:30 EST) and France vs Scotland at 18:00 CET in Paris.
SUNDAY, FEB. 8
-U.S. Secretary of State John Kerry and German Foreign Minister Frank-Walter Steinmeier hold a joint news conference at the Munich Security Conference at 10:00 CET (04:00 EST).
-The Institute of International Finance begins a two-day conference in Istanbul at 08:30 (01:30 EST). Turkey’s Deputy Prime Minister Ali Babacan and Brazil’s central bank Governor Alexandre Tombini are among the speakers.
-China’s General Administration of Customs releases its preliminary trade data for January including imports and exports of commodities. From 10:00 in Beijing (02/07 21:00 EST).
-Golf. The $6.3 million Farmers Insurance Open concludes at Torrey Pines Golf Club in San Diego. Tee times and pairings to be determined.
-Grammy Awards. Beyonce and British singer Sam Smith are among the nominees who will compete for album of the year at this year’s Grammy ceremony. Beyonce, Pharrell Williams and Smith each received six nominations. At the Staples Center in Los Angeles. Broadcast on CBS at 20:00 in most time zones.
MONDAY, FEB. 9
-G-20 finance ministers and central bank governors meet in Istanbul for a two-day summit.
-German Chancellor Angela Merkel visits Washington to meet U.S. President Barack Obama and prepare for Germany’s hosting of the Group of Seven summit in June. Obama and Merkel will meet at the White House at 09:55 and hold a joint news conference at 11:40.
-European Union foreign ministers meet to consider further sanctions against Russia over the Ukraine crisis. 10:00 CET in Brussels (04:00 EST).
-Bank of Japan board member Yoshihisa Morimoto speaks in Chiba, near Tokyo. 10:30 (02/08 20:30 EST). Press conference follows at 14:00.
-Thai Prime Minister Prayuth Chan-Ocha meets Japanese Prime Minister Shinzo Abe as part of the junta chief’s three-day visit to Japan. The leaders will probably discuss investment by Japanese companies in a dual-track train link between Thailand, Cambodia and Myanmar.
-Investing in African Mining Indaba, the largest mining conference in Africa, runs through Feb. 11. Speakers include former U.K. Prime Minister Tony Blair and Ivanhoe Mines Ltd. Chairman and founder Robert Friedland. Click here for the conference agenda.
-Australia’s parliament resumes in Canberra for the first time in 2015 amid speculation Prime Minister Tony Abbott may face a vote against his leadership.
-Slovak Prime Minister Robert Fico and his Hungarian counterpart, Viktor Orban, attend the opening of a crude pipeline link between their countries and may hold talks on other issues. Timing to be determined.
-Russian President Vladimir Putin begins a two-day visit to Egypt. Timing to be determined.
-The Organization of Petroleum Exporting Countries publishes its monthly oil market report. 13:00 CET in Vienna (07:00 EST).
-The E-world energy and water fair takes place in Essen, Germany. Events include a congress with topics such as Europe’s energy futures, gas markets and power trading. Speakers include Laszlo Varro, the International Energy Agency’s head of electricity, gas and coal. 13:00 CET in Essen (07:00 EST). Through 02/12.
-U.S. government bond auctions, Fed debt purchases. Click here for schedule.
-U.S. initial public stock offerings. Click here for schedule.
-U.S. Supreme Court. Click here for schedule.
-ECONOMY: U.S. labor market conditions index (Jan.), Mexico inflation (Jan.), Japan current account (Dec.), India GDP estimate (fourth quarter), Taiwan imports, exports, trade balance (Jan.), Turkey industrial production (Dec.), German exports (Dec.), Bank of France business sentiment (Jan.), Czech CPI (Jan.).
-Skiing. American Lindsey Vonn competes in the combined event at the Alpine World Ski Championships in her home town of Vail, Colorado. The downhill run begins at 12:00 EST, with the slalom at 16:15 EST. During the championship, Vonn will also race in the giant slalom. Click here for all race schedules. Through Feb. 15.
-CENTRAL BANKS: Bank of Israel meeting minutes.
-EARNINGS: Nissan Motor Co., Mediobanca SpA.
TUESDAY, FEB. 10
-Credit Suisse Financial Services Forum. Speakers at the conference include Lloyd Blankfein, chief executive officer of Goldman Sachs Group Inc.; Robert Kapito, co-president, BlackRock Inc.; and William Janetschek, chief financial officer at KKR & Co. Starts 08:00 in Aventura, Florida. Through. Feb. 11.
-SuperInvestor U.S. 2015. Speakers at the conference will include David Bonderman, co-founder of TPG Capital Management; Mitch Truwit, co-chief executive officer of Apax Partners; and Greg Beard, head of energy investments at Apollo Global Management LLC. Starts at 09:00 in San Francisco (12:00 EST). Click here for the full list of speakers. Through Feb. 11.
-Commodity Futures Trading Commission member J. Christopher Giancarlo; Municipal Securities Rulemaking Board Executive Director Lynnette Kelly; Financial Industry Regulatory Authority Chief Legal Officer Bob Colby and Securities and Exchange Commission Trading and Markets Director Stephen Luparello speak at the ICI’s Capital Markets Conference. In New York. Click here for the full schedule.
-International Monetary Fund chief economist Olivier Blanchard speaks about the global economic outlook at The Economist magazine’s Buttonwood Gathering in New York. Other speakers include former U.S. Treasury Secretary Timothy Geithner and Jason Furman, chairman of President Barack Obama’s Council of Economic Advisers. Starts at 08:30 in New York. Click here for full schedule.
-The Energy Institute’s International Petroleum Week takes place in London. The conference will host delegates including Maria van der Hoeven, executive director of the International Energy Agency, Ian Taylor, CEO of Vitol Group, and Igor Sechin, president of Rosneft OAO. Oil companies and traders also hold a series of receptions. 09:30 in London (04:30 EST). Through 02/12.
-European Central Bank Chief Economist Peter Praet and Bank of Portugal Governor and European Central Bank Governing Council Member Carlos Costa speak at a conference on “Financial Stability and Macro-Prudential Policy.” 09:00 in Lisbon (04:00 EST).
-Bank of Canada Senior Deputy Governor Carolyn Wilkins speaks at the Ottawa Economics Association after the central bank surprised investors by raising interest rates at its Jan. 21 policy meeting. 12:30 in Ottawa (12:30 EST).
-German Chancellor Angela Merkel meets Canadian Prime Minister Stephen Harper as she continues her G-7 summit preparations. The visit will include a News conference in Ottawa. Times to be determined.
-U.S. National Vaccine Advisory Committee. The panel that advises the National Vaccine Program begins a two-day meeting to discuss draft recommendations to broaden public acceptance of vaccinations in the U.S. Measles outbreaks linked to Disneyland in California have put a spotlight on parents who choose not to vaccinate. Recommendations will be presented on the second day of the meeting. Starts at 09:00 in Washington. Through Feb. 11.
-Japan’s Ministry of Finance releases national debt data for the end of 2014. 14:00 in Tokyo (00:00 EST).
-China may release monthly credit data for January after aggregate financing topped analyst estimates in December at 1.69 trillion yuan ($270 billion). Data on money supply and new local-currency loans will also be released. May come any day starting from Feb. 10.
-Hungarian central bank Managing Director Daniel Palotai speaks at a conference on the economic policy of Prime Minister Viktor Orban’s government in the past four years. 16:00 CET in Budapest (10:00 EST).
-Fitch Ratings holds a conference on emerging Europe’s economic and banking-sector outlook with James McCormack, Fitch’s London-based managing director and global head of sovereign and supranational ratings. 09:00 CET in Warsaw (03:00 EST).
-Malaysia’s Federal Court will give its verdict on opposition leader Anwar Ibrahim’s sodomy case. A panel of five judges will decide on the former deputy prime minister’s appeal after his 2012 acquittal was overturned last March. He faces a five-year jail term if his appeal is rejected.
-The International Energy Agency publishes its monthly oil market report. 10:00 CET in Paris (04:00 EST).
-The U.S. Department of Agriculture releases its monthly report on supply and demand for crops. 12:00 in Washington.
-Second day of the G-20 meeting in Istanbul.
-ECONOMY: JOLTs U.S. job openings (Dec.), U.S. wholesale inventories (Dec.), China CPI, PPI (Jan.), South Africa unemployment (fourth quarter), South Africa manufacturing production (Dec.), Saudi Arabia CPI (Jan.), Egypt CPI (Jan.), French industrial production (Dec.), Italian industrial production (Dec.), U.K. industrial production (Dec.), Swiss unemployment rate (Jan.), Swiss CPI (Jan.), Slovenia industrial production (Dec.).
-EARNINGS: Coca-Cola Co., KKR & Co., America Movil SAB, SoftBank Corp., UBS Group AG, Intesa Sanpaolo SpA, Metro AG.
WEDNESDAY, FEB. 11
-ECB Executive Board member Benoit Coeure speaks on “Links between monetary policy and economic growth” at a conference in Paris. 08:00 CET (02:00 EST).
-German Chancellor Angela Merkel gives a speech as part of her Christian Democratic Union’s campaign for the Hamburg state legislature election on Feb. 15. 17:30 CET in Hamburg (11:30 EST).
-The U.S. Energy Information Administration releases its weekly oil inventory report. 10:30 in Washington.
-ECONOMY: U.S. monthly budget statement (Jan.), Brazil retail sales (Dec.), Mexico industrial production (Dec.), South Korea jobless (Jan.), Turkey current-account balance (Dec.), Israel trade balance (Jan.), Norway GDP (fourth quarter), Portugal CPI (Jan.), Estonia GDP (fourth quarter), Hungary CPI (Jan.), Latvia CPI (Jan.).
-CENTRAL BANKS: Zambia rate decision, Mozambique rate decision, Hungary meeting minutes, Georgia rate decision.
-EARNINGS: Tesla Motors Inc. , Carlyle Group LP, Cisco Systems Inc., PepsiCo Inc., Whole Foods Market Inc., MetLife Inc., Applied Materials Inc., Time Warner Inc., Banco do Brasil SA, Goodman Fielder Ltd., Heineken NV, ING Groep NV, Yara International ASA, Sampo Oyj, UniCredit SpA, Banca Monte dei Paschi di Siena SpA.
THURSDAY, FEB. 12
-U.S. retail sales probably declined in January for a second month, according to a Bloomberg survey, indicating consumers took a breather after spending rose in the fourth quarter. The Commerce Department releases the data at 08:30 in Washington.
-Bank of England Inflation Report. Governor Mark Carney will hold a press conference in London to publish the central bank’s latest economic and inflation forecasts and give his outlook for the coming year. The BOE kept its key interest rate at a record-low 0.5 percent on Feb. 5. 10:30 in London (04:30 EST).
-European Union leaders hold a summit. Greece’s call for easier bailout terms, sanctions on Russia and the fight against homegrown terrorism are among the topics. 13:00 CET in Brussels (07:00 EST).
-ECB Executive Board member Peter Praet delivers the keynote speech at a conference in London. 09:05 (04:05 EST).
-A South Korean court rules on a former Korean Air Lines Co. vice president indicted on charges of obstructing aviation safety. Heather Cho, daughter of the company’s chairman, ordered the head of the service crew on Flight 86 from New York to Seoul to deplane on Dec. 5 after an attendant served her macadamia nuts without asking. 15:00 in Seoul (01:00 EST).
-U.S. Deputy Secretary of State Antony Blinken arrives in Seoul for the start of a three-nation Asia tour that will also include China and Japan as the U.S. seeks to boost trade in the region and increase pressure on North Korea to return to disarmament talks. In Tokyo, Blinken will probably lobby for an agreement on the Trans-Pacific Partnership regional trade deal. Timing to be determined.
-South African President Jacob Zuma delivers the state of the nation address. 18:00 in Cape Town (11:00 EST).
-The U.S. Energy Information Administration releases its weekly natural gas storage report. 12:00 in Washington.
-ECONOMY: U.S. initial jobless claims (weekly), Bloomberg U.S. consumer comfort (weekly), U.S. business inventories (Dec.), Australia employment (Jan.), Malaysia GDP (4Q), Japan machinery orders (Dec.), South Africa mining production (Dec.), euro-area industrial production (Dec.), Hungary industrial production (Dec.), Romania industrial output (Dec.).
-CENTRAL BANKS: Chile rate decision, Peru rate decision, Philippine rate decision, Sweden rate decision, Serbia rate decision.
-EARNINGS: American International Group Inc., Zynga Inc., Kellogg Co., Apache Corp., CBS Corp., Groupon Inc., Telstra Corp., Baidu Inc., Asahi Group Holdings Ltd., Skymark Airlines Inc., Yamaha Motor Co., Melco Crown Entertainment Ltd., Credit Suisse Group AG, Zurich Insurance Group AG, Akzo Nobel NV, Pernod Ricard SA, Manchester United Plc, Rio Tinto Plc, Total SA, Christian Dior SA, Publicis Groupe SA, Renault SA, Societe Generale SA, Commerzbank AG, KBC Groep NV, Electricite de France SA.
FRIDAY, FEB. 13
-U.S. consumer sentiment probably held close to an 11-year high in February, according to a Bloomberg survey, as a stronger job market and cheap gasoline kept households optimistic. The University of Michigan releases its preliminary gauge at 10:00 in Washington.
-Euro region GDP. The euro-area economy probably expanded 0.2 percent in the fourth quarter, according to a Bloomberg News survey of economists. Going forward, growth in the 19-nation region will benefit from lower oil prices and a 1.1 trillion-euro ($1.26 trillion) asset-purchase plan from the ECB. The European Commission has raised its growth forecasts for this year and next to 1.3 percent and 1.9 percent, respectively. The data are released at 11:00 CET in Luxembourg (05:00 EST).
-Cybersecurity summit. The White House will convene a meeting of technology companies, legal authorities, and consumer and privacy advocates at Stanford University to coordinate government and industry efforts to protect consumers and companies from the growing threat of cyber-attacks. Times and participants to be announced. In Stanford, California.
-ECB Vice President Vitor Constancio delivers the keynote speech at the Warwick Economics Summit 2015. 18:00 in Coventry, central England (13:00 EST).
-Australian Central Bank Governor Glenn Stevens gives his semi-annual testimony before a parliamentary committee, the first time he will be questioned after he unexpectedly cut the benchmark interest rate to a record low on Feb. 3. 09:30 in Sydney (02/12 17:30 EST).
-ECONOMY: Portugal GDP (fourth quarter), Swiss producer, import prices (Jan.), Czech GDP (fourth quarter), Romania GDP (fourth quarter), Romania CPI (Jan.), Hungary GDP (fourth quarter), Slovakia GDP (fourth quarter), Slovakia CPI (Jan.), Poland GDP (fourth quarter), Lithuania CPI (Jan.), Poland CPI (Jan.).
-CENTRAL BANKS: Uganda rate decision.
-EARNINGS: Usinas Siderurgicas de Minas Gerais SA, Neptune Orient Lines Ltd., Rolls-Royce Holdings Plc, ThyssenKrupp AG, ArcelorMittal.
-SOVEREIGN RATING UPDATES: Abu Dhabi (Fitch), Angola (S&P), Austria (Fitch), Democratic Republic of Congo (S&P), Gabon (S&P), Germany (DBRS), Ireland (Fitch), Israel (S&P), Italy (Moody’s), Kuwait (S&P), Latvia (Moody’s), Uganda (Fitch), Ukraine (Fitch).
SATURDAY, FEB. 14
-Nigeria holds presidential elections with incumbent Goodluck Jonathan facing main contender Muhammadu Buhari. A recent opinion poll put support for Jonathan’s People’s Democratic Party and Buhari’s All Progressives Congress level at 42 percent each. The vote is taking place at a time of plunging oil prices and the violent insurgency by Boko Haram in the northeast.
To contact the reporters on this story: Greg Miles in New York at +1-212-617-5877 or email@example.com; James Amott in London at +44-20-3525-4206 or firstname.lastname@example.org; Keat Kian Koh in Singapore at +65-6212-1580 or email@example.com To contact the editors responsible for this story: Andy Davidson at +1-212-617-8977 or firstname.lastname@example.org Nancy Moran, Tal Barak Harif