WITH representatives of the EU-IMF-ECB troika due to visit Ireland this week to review the progress of the bailout programme, the main economic focus will be on the industrial production numbers for November.
A key event for the euro zone will be Thursday’s European Central Bank policy meeting.
While some market observers are anticipating a 0.25 per cent interest rate cut, the general consensus is that the Central Bank will hold off until February before taking any action.
MONDAY
Results: Alcoa; MT Bank
Meeting: IEA launches export industry year-end 2011 review; French president Nicolas Sarkozy to meet German chancellor Angela Merkel
Indicators: EU-17 Sentix investor sentiment index (Jan); Irish Ulster Bank construction PMI (Dec), KBC Ireland/ESRI consumer sentiment index (Dec), Bord Gáis Energy index (Dec) and overseas travel (Sep-Nov); US consumer credit (Nov); German industrial production (Nov)
Other: Emirates launches new Dublin-Dubai service
TUESDAY
Meeting: European commissioner for economic and monetary affairs Olli Rehn to give speech at new year seminar on Eurobonds (Brussels)
Indicators: Irish manufacturing production (Nov); US wholesale inventories (Nov); UK BRC retail sales (Dec), RICS house price balance (Dec) and BCC manufacturing survey (fourth quarter); French industrial output (Nov)
WEDNESDAY
Meeting: Launch of Bord Bia's export performance and prospects report 2011/2012 (National Convention Centre, Dublin); German chancellor Angela Merkel and Italian prime minister Mario Monti will hold talks on the euro zone crisis (Berlin)
Indicators: EU-17 revised GDP (Q3); UK trade balance (Nov); German GDP (2011)
Other: US Federal Reserve Bank publishes beige book
THURSDAY
Results: Sudzucker
Meeting: Fáilte Ireland/National Tourism Development Authority briefing – "Tourism – What will 2012 bring?" (Clarion Hotel, IFSC, Dublin )
Indicators: EU-17 ECB interest rate announcement and industrial production (Nov); Irish milk statistics (Nov); US initial jobless claims (w/e Jan 7th), retail sales (Dec), business inventories (Nov) and Fed budget (Dec); UK industrial production (Nov), NIESR GDP estimate (three months to Dec) and Bank of England interest rate announcement; German final CPI (Dec); French final HICP (Dec); Italian industrial production (Nov)
Other: Barratt Developments trading update; Geberit interim management statement
FRIDAY
Results: JPMorgan Chase
Meeting: British-Irish Council Summit (Dublin Castle); BT Lunch Forum – Innovating for Growth (RDS); Bellway agm
Indicators: EU-17 trade balance (Nov); Irish quarterly institutional sector accounts non-financial (third quarter); United States export prices (Dec), international trade balance (Nov) and preliminary Michigan sentiment (Jan); UK PPI input (Dec)
