Macro data Impacting Asia April 19 - 23 Earnings, inflation and PMI's


18 Apr

A light week for data but investors will be looking for signs of inflation in the earnings out this week which really ramps up; with 328 companies due. Costs and profit margins will be key.  
At the same time with markets trading at highs; Dow above 34,000, FTSE above 7,000 and Japan, S Korea and Taiwan at 5 year highs (China & HK have pulled back in the last month) so any disappointments are likely to be harshly received.  But helping analysts; from the results so far; it the fact that we are seeing companies giving guidance again. In the US earnings growth for the S&P 500 is 30.2%; making it the best quarter since the third quarter of 2010, according to FactSet.  So expectations are raised.  Also worth noting that so far in the US companies have beaten earnings estimates by a wide margin of more than 84%, suggests that analysis were either overly pessimistic or their models don’t work without management guidance.
A full list of US earnings can be found at https://finance.yahoo.com/calendar/earnings/

Key data PMI data out at the end of the week.
Ahead of that:
Japan Trade data Monday and Inflation data Friday.
S Korea PPI
Taiwan Export Orders, Unemployment, Retail Sales and Industrial Production China Loan Prime Rate
Europe ECB Rate Decision, German PPI, UK Employment, Inflation Retail Sales and PPI data
US Home Sales Data, Chicago Fed National Activity Index, Kansas Fed Manufacturing Index and 5 year TIPS auction.

Monday 19 April 
AUSTRALIA  No data due but could get New Home Sales.
JAPAN Balance of Trade, Exports, Imports, Industrial Production, Capacity Utilisation.
S KOREA No data due  
TAIWAN No data due  
CHINA No data due  
HONG KONG No data due  
EUROZONE Current Account, Construction Output
GERMANY Bundesbank Monthly Report
FRANCE No data due  
UK No data due  
US No data due  
Earnings Coca-Cola, IBM, United Airlines, Zions Bancorp, FNB, Steel Dynamics

Tuesday 20 April 
AUSTRALIA  RBA Meeting Minutes
JAPAN Tertiary Industry Index
S KOREA No data due  
TAIWAN Export Orders
CHINA Loan Prime Rate (1 and 5 year)
HONG KONG No data due  
EUROZONE No data due  
GERMANY PPI
FRANCE No data due  
UK Claimant Count Change, Employment Change, Average Earnings (Inc & Ex Bonus), Unemployment Rate.
US Redbook, API Crude Oil Stock Change
Earnings Johnson & Johnson, Travelers, Procter and Gamble, Netflix, Abbott Labs, CSX, Lockheed Martin, Intuitive Surgical, Tenet Healthcare, Philip Morris, Northern Trust, Fifth Third, KeyCorp, Comerica

Wednesday 21 April
AUSTRALIA  Retail Sales, Leading Index
JAPAN No data due  
S KOREA 
PPI
TAIWAN No data due  
CHINA 
No data due  
HONG KONG 
No data due  
EUROZONE 
No data due  
GERMANY 
No data due  
FRANCE 
No data due  
UK 
Inflation Rate, Core Inflation, PPI Core, PPI Output, PPI Input, Retail Price Index,
US MBA Mortgage Applications and 30 yr Mortgage Rate, EIA Oil Report.
Earnings Verizon, Chipotle, Whirlpool, Nasdaq, Baker Hughes, Anthem, Netgear, Spirit Airlines, Canadian Pacific Railway, Lam Research, Discover Financial, SLM, Halliburton, Knight-Swift Transportation

Thursday 22 April 
AUSTRALIA  No data due  
JAPAN Foreign Stock and Bond Investment
S KOREA No data due  
TAIWAN 
Unemployment Rate
CHINA No data due  
HONG KONG 
Unemployment Rate
EUROZONE 
Government Budget to GDP and Government Debt to GDP, ECB Rate Decision and Press Conference
GERMANY No data due  
FRANCE 
No data due
UK CBI Industrial Trends Orders and Business Optimism Index
US Chicago Fed National Activity Index, Initial Claims, 4 week Average Claims, Continuing Claims, Existing Home Sales, EIA Natural Gas Report, Kansas Fed Manufacturing Index, 5 year TIPS auction.
Earnings AT&T, Intel, D.R. Horton, American Airlines, Union Pacific, Alaska Air, Pentair, Tractor Supply, Celanese, Seagate Technology Biogen, Dow, Credit Suisse, SAP, Boston Beer, Mattel, Snap, Valero Energy, Freeport-McMoRan, Quest Diagnostics

Friday 23 April 
AUSTRALIA  PMI Flash (Manufacturing, Services and Composite)
JAPAN Inflation Rate, Core Inflation, PMI Flash (Manufacturing, Services and Composite)
S KOREA No data due  
TAIWAN 
Retail Sales, Industrial Production, M2 Money Supply
CHINA No data due  
HONG KONG 
Business Confidence, Inflation Rate.
EUROZONE PMI Flash (Manufacturing, Services and Composite)
GERMANY 
PMI Flash (Manufacturing, Services and Composite)
FRANCE 
PMI Flash (Manufacturing, Services and Composite)
UK 
Consumer Confidence, Retail Sales, Retail Sales Ex Fuel, Public Sector Net Borrowing, PMI Flash (Manufacturing, Services and Composite)
US PMI Flash (Manufacturing, Services and Composite), New Home Sales, Baker Hughes Rig Count.
Earnings American Express, Honeywell, Daimler, Regions Financial, Schlumberger, Kimberly-Clark

Comments
* The email will not be published on the website.