THE FOCAL point for the week is likely to be Wednesday’s Dáil vote on the Government’s agreement with the EU and IMF.
However GDP data for quarter three, out on Thursday, will also attract considerable attention. The figures are expected to show that an export-driven recovery continues, but domestic demand remains weak.
Markets will also be keeping an eye on comments from the European Central Bank president Jean-Claude Trichet, who is due to speak at a journalist club meeting in Frankfurt today.
TODAY
Meeting:Speech by ECB president Jean-Claude Trichet; live webcast debate on the potential impact of national public spending cuts and monetary policy on the long-term stability of the euro zone, hosted by Ernst Young.
Indicators: Irish Ulster Bank Construction PMI (November); UK Rightmove house prices (December); OECD composite leading indicators.
Other: Launch of OECD economic survey for euro area.
TOMORROW
Meeting:DCEB start your own business course.
Indicators: EU-16 industrial production (October); US PPI (November), retail sales/ex autos (November), business inventories (October) and FOMC interest rate announcement; UK RICS house price balance (November), CPI (November) and DCLG house prices (October); German ZEW index (December); French final HICP (November).
WEDNESDAY
Dáil vote on EU/IMF loan package memorandum of understanding.
Results: Siteserv; Worldspreads.
Meeting: Chambers Ireland seminar Opportunities in an Inclusive Workforce (GPO).
Indicators: Irish business expenditure on research and development (2009/10); US CPI (November), Empire State – New York fed manuf. (December), TICS net capital flows (October), industrial production (November) and NAHB house builders index (December); UK average weekly earnings (three months to October), claimant count (November) and CBI distributive trades survey (December).
THURSDAY
Results: Accenture; FedEx; General Mills.
Meeting: ACCA Christmas charity evening lecture IFRS in a Hurry (Bank of Ireland, House of Lords, College Green); Federation of European Accountants discussion on expectations of stakeholders from statutory auditors (Brussels).
Indicators: EU-16 final HICP (November); Irish quarterly national accounts (Q3), services producer price Index (Q3), production in building and construction index (Q3), balance of international payments (Q3) and wholesale price index (November); US current account (Q3), housing starts (November), initial jobless claims (w/e December 11th) and Philly fed business survey (December); UK retail sales (November).
FRIDAY
Indicators: Irish agricultural price indices (October); US leading indicators (November); UK nationwide consumer confidence (November); German Ifo index (December); French business climate index (December).
