The Week Ahead: Jan. 9-15, 2012

January 9, 2012 12:09 AM
 
Untitled Document

via a special arrangement with Informa Economics, Inc.

USDA reports | CFTC vote | Farm Bureau meeting | Argentine drought meeting | Geithner in Asia


NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


Congress is still out on its “pro forma” recess.

This week will see some additional economic data emerge, with Retail Sales on Thursday which should show consumers had a happy Christmas, and International Trade and Consumer Sentiment on Friday. The week also brings the Beige Book report from the Federal Reserve on Wednesday – two weeks before their next scheduled meeting. And of course that meeting will feature the first release of the extra information the Fed has promised to deliver to bring more clarity to their decision-making process.

CFTC vote. On Wednesday, the Commodity Futures Trading Commission (CFTC) votes on a Dodd-Frank proposal to ban proprietary trading by banks.

For agriculture, South America weather will remain important ( an Argentine committee on drought will meet Thursday), but the markets will get a batch of USDA data Thursday to consider -- Annual Summary, Winter Wheat Seedings, Quarterly Grain Stocks, Supply & Demand and monthly Crop Production. That will give traders plenty to chew on to close out the week. And, Weekly Export Sales data returns to the usual Thursday release even though it is still going to encompass some of the holiday impact which could well temper sales results once again.

The American Farm Bureau Federation is holding its annual meeting, this year in Hawaii. The new farm bill and other policy issues will be the primary topics addressed.

On the international front, US Treasury Secretary Timothy Geithner visits Asia this week, arriving in China on Monday – and Japan later in the week – to discuss proposals for ratcheting up financial pressure on Iran as punishment for its alleged development of nuclear weapons. Also on Monday, Chancellor Angela Merkel of Germany holds talks with Nicolas Sarkozy, the French president, in Berlin to further the European Union plan for new rules on budget discipline and closer fiscal integration. On Wednesday the World Economic Forum publishes its Global Risks 2012 report, which reveals how 469 industry leaders and experts perceive future risks that cut across society, the economy, the environment, geopolitics and technology.


Monday, Jan. 9
Federal Reserve:
Atlanta Fed President Dennis Lockhart, an FOMC voter, speaks.
Japan:
Markets are closed in Japan.
EU:
French President Nicolas Sarkozy meets with German Chancellor Angela Merkel in Berlin over the crisis in the euro zone.
China:
Inflation data issued.
China visit:
Treasury Secretary Timothy Geithner arrives in China to discuss proposals for ratcheting up financial pressure on Iran as punishment for its alleged development of nuclear weapons.
Environment:
The Supreme Court hears oral arguments in a case that will decide whether landowners have a right to go to court to challenge a Clean Water Act order issued by the EPA.
Economic reports: Selected Interest Rates
(Federal Reserve) | Consumer Credit.
USDA reports: Export inspections
(AMS).

Tuesday, Jan. 10
New Hampshire Primary: Republican Presidential hopefuls battle it out in New Hampshire.
Rating agencies: Fitch Ratings, the international rating agency, gives a presentation in London by its senior analysts on how they think the eurozone crisis will affect credit fundamentals and markets in 2012. The presentation will also be made in Frankfurt on Wednesday and in Paris on Thursday.
Energy reports: Weekly National Petroleum Report (API)
Economic reports: ICSC-Goldman Store Sales | Wholesale Trade.

Wednesday, Jan. 11
EU:
Germany's Merkel and Italian Prime Minister Mario Monti speak about the euro zone crisis.
Risk report:
The World Economic Forum publishes its Global Risks 2012 report, which reveals how 469 industry leaders and experts perceive future risks that cut across society, the economy, the environment, geopolitics and technology.
CFTC:
The Commodity Futures Trading Commission (CFTC) votes on a Dodd-Frank proposal to ban proprietary trading by banks.
Energy reports: Weekly Petroleum Status Report (EIA) | Weekly ethanol plant production (EIA) | Monthly oil market report (EIA) | OPEC monthly oil market report.
Economic reports: Weekly mortgage applications (Labor Dept.) | Beige Book (Federal Reserve).
USDA reports: Broiler Hatchery (NASS).

Thursday, Jan. 12
Geithner in Japan: US Treasury Secretary Timothy Geithner meets with Japanese officials.
ECB: The European Central Bank (ECB) is seen holding rates steady by Barclays Capital. It also expects the Bank of England to hold rates steady.
Italy and Spain auctions: Markets will be watching auctions in Italy and Spain.
EU-US meeting: A two-day EU-US Senior Officials Meeting takes place in Copenhagen. Discussions will focus on justice and security issues such as data protection, air transport security, migration and cyber crime.
Transportation: Weekly Traffic of Major Railroads (Assn. Of American Railroads).
Energy reports: Weekly US underground natural gas stocks (EIA).
Economic reports: Jobless Claims (Labor Dept.) | Weekly Mortgage Rates (Freddie Mac) | ICI weekly money market mutual fund data | Retail Sales | Business Inventories | Treasury Budget.
USDA reports: Grain Transportation Report (AMS) | Export Sales (FAS) | World Agricultural Supply and Demand Estimates (ERS) | Cotton Ginnings (NASS) | Cotton: World Markets and Trade (FAS) | World Agricultural Production (FAS) | Oilseeds: World Markets and Trade (FAS) | Grains: World Markets and Trade (FAS) | Season-Average Price Forecasts (ERS) | Latest US Agricultural Trade Data (ERS) | Rice Stocks (NASS) | Grain Stocks (NASS) | Crop Production – Annual (NASS) | Winter Wheat Seedings (NASS) | Cotton, Grains, Oilseeds and World Ag Production Data (FAS) | Crop Production (NASS) |

Friday, Jan. 13

China releases economic indicators, including economic output, industrial production and retail sales.
Economic reports: International Trade | Consumer Sentiment | Import and Export Prices.
USDA reports: Dairy Product Prices (NASS) | Turkey Hatchery (NASS) | Peanut Prices (NASS) | Oil Crops Outlook (ERS) | Rice Outlook (ERS).




NOTE: This column is copyrighted material, therefore reproduction or retransmission is prohibited under U.S. copyright laws.


 


 

 

 

 

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