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(CEP News) - Undaunted by a barrage of secondary data in the Asia-Pacific, Australia's employment data likely represents the main event next week, as markets continue to find their legs in 2009.
Due out on Wednesday, December's labour report is expected to show Australia's unemployment rate tick up to 4.5%, with 20k jobs falling overall. Meanwhile in Japan, markets will be paying attention to several data fronts, with the corporate goods and price index (CGPI) as well as the machine orders report both set for release. In addition, Capital Economics is keeping its eyes trained on the Economic Watcher's Survey for December, a traditionally second-tier release they say will provide an up-to-date guide to the country's mood heading into the new year. "The relative calm in the Nikkei and optimism about the impact of further policy stimulus (in the US if not in Japan) provide some hope that sentiment at least stabilised last month," said chief international economist Julian Jessop, adding that he expects Japan to post the strongest recovery from the financial crisis of the Group of Four (Brazil, Germany and India). The Nikkei 225 reached an annual high of 14601 in June before plummeting alongside global stock markets across the world. On Dec. 30, it ended the year at 8703. Currently, the Nikkei has retraced some of the losses and is up to 8830 levels. Economists are also slotting in Wednesday's Japanese machinery orders as the country's main event next week. Calyon's chief Japanese economist Susumu Kato expects the data to show an 8.9% drop-off in November, against consensus expectations for an 8.0% decline. "Economic indicators continued to be much worse than economists' forecasts on the back of further intensification of global financial crisis and its impact on real economic activities. Yet, we expect that the deterioration indicated by economic numbers for October is just a beginning and there should be more to come from those numbers for November and December," he wrote, adding that the machine orders data will be no exception. Japanese CGPI figures are likewise due out on Wednesday. Economists look for a 1.5% decline in December and a 0.8% year-over-year rise. All times in EST: Saturday: 10-13 JAN CN Money Supply - M1 Y/Y DEC Prior: +6.8% 10-13 JAN CN Money Supply - M0 Y/Y DEC Prior: +9.0% 10-13 JAN CN Money Supply - M2 Y/Y DEC Exp: +15.0% Prior: +14.8% 10-13 JAN CN Foreign Exchange Reserves DEC Prior: +$1,906.00B Sunday: 11:00 AU Quarterly Wage Agreements Q3 Prior: +4.0 19:30 AU ANZ Job Advertisements M/M DEC Prior: -8.6% 10-13 JAN CN Money Supply - M1 Y/Y DEC Prior: +6.8% 10-13 JAN CN Money Supply - M0 Y/Y DEC Prior: +9.0% 10-13 JAN CN Money Supply - M2 Y/Y DEC Exp: +15.0% Prior: +14.8% 10-13 JAN CN Foreign Exchange Reserves DEC Prior: +$1,906.00B Monday: 16:00 NZ NZIER Business Opinion Survey Q4 Prior: -19 18:50 JN Japan Money Stock M3 Y/Y DEC Exp: +0.6% Prior: +0.6% 18:50 JN Japan Money Stock M2 Y/Y DEC Exp: +1.7% Prior: +1.7% 18:50 JN Current Account Total NOV Exp: +¥600.0B Prior: +¥960.5B 18:50 JN Adjusted Current Account Total NOV Exp: +¥625.4B Prior: +¥1113.2B 18:50 JN Trade Balance - BOP Basis NOV Exp: -¥76.2B Prior: +¥145.8B 18:50 JN Bank Lending Banks Adjust Y/Y DEC Prior: +4.1% 18:50 JN Bank Lending Including Trusts Y/Y DEC Prior: +3.2% 18:50 JN Bank Lending Banks ex-Trust Y% DEC Prior: +3.6% 23:30 JN Bankruptcies Y/Y DEC Prior: +5.2% 10-13 JAN CN Money Supply - M1 Y/Y DEC Prior: +6.8% 10-13 JAN CN Money Supply - M0 Y/Y DEC Prior: +9.0% 10-13 JAN CN Money Supply - M2 Y/Y DEC Exp: +15.0% Prior: +14.8% 10-13 JAN CN Foreign Exchange Reserves DEC Prior: +$1,906.00B Tuesday: 16:45 NZ Building Permits M/M NOV Prior: -21.9% 19:30 AU Home Loans NOV Exp: +1.0% Prior: +1.3% 19:30 AU Investment Lending NOV Exp: +1.5% Prior: +0.7% 19:30 AU Value of Loans M/M NOV Exp: +0.0% Prior: +2.4% 13-Jan JN Eco Watchers Survey: Current DEC Exp: +20.4 Prior: +21 13-Jan JN Eco Watchers Survey: Outlook DEC Prior: +24.7 12-19 JAN FR Bank of France Bus. Sentiment DEC Exp: +66 Prior: +68 10-13 JAN CN Money Supply - M1 Y/Y DEC Prior: +6.8% 10-13 JAN CN Money Supply - M0 Y/Y DEC Prior: +9.0% 10-13 JAN CN Money Supply - M2 Y/Y DEC Exp: +15.0% Prior: +14.8% 10-13 JAN CN Foreign Exchange Reserves DEC Prior: +$1,906.00B Wednesday: 1:00 JN Machine Tool Orders Y/Y DEC Preliminary Prior: -62.1% 18:50 JN Machine Orders M/M NOV Exp: -8.0% Prior: -4.4% 18:50 JN Machine Orders Y/Y% NOV Exp: -20.8% Prior: -15.5% 18:50 JN Domestic CGPI M/M DEC Exp: -1.5% Prior: -1.9% 18:50 JN Domestic CGPI Y/Y DEC Exp: +0.8% Prior: +2.8% 19:30 AU Employment Change DEC Exp: -20.0K Prior: -15.6K 19:30 AU Unemployment Rate DEC Exp: +4.5% Prior: +4.4% 19:30 AU Participation Rate DEC Exp: +65.0% Prior: +65.1% 14-30 JAN AU NAB Business Confidence Q4 Prior: -7.0 Thursday: 6:01 NZ QV House Prices Y/Y% DEC 18:50 JN Foreign Buying Japan Bonds 9-Jan Prior: -¥24.2B 18:50 JN Foreign Buying Japan Stocks 9-Jan Prior: -¥18.7B 18:50 JN Japan Buying Foreign Stocks 9-Jan Prior: +¥61.5B 18:50 JN Japan Buying Foreign Bonds 9-Jan Prior: +¥442.9B 19:30 JN BOJ to Hold Quarterly Branch Managers' Meeting in Tokyo 15-Jan 21:00 NZ Non Resident Bond Holdings DEC Prior: +74.2% 15-21 JAN JN Tokyo Department Store Sales Y/Y DEC Prior: -7.2% 15-21 JAN JN Nationwide Department Sales Y/Y DEC Prior: -6.4% Friday: 15-21 JAN JN Tokyo Department Store Sales Y/Y DEC Prior: -7.2% 15-21 JAN JN Nationwide Department Sales Y/Y DEC Prior: -6.4% By Ryan Szporer,
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