Indicators & Events: Aug 20 – 27, 2012

Date CET Country Event Period Forecast Last

Mon 20 Gov auctions Norway sells bills (11.00), France sells bills (15.00)

SWE Riksbank’s Jansson participates in panel discussion at the RBA

15.30 EMU ECB announces bond purchases (SMP)

Tue 21 Gov auctions Spain sells bills (10.30), UK sells 17y bonds (11.30)

03.30 AUS RBA minutes

10.30 UK PSNCR / PSNB excl. temp. effects Jul GBP --- / -2.4bn GBP 3.0bn / 14.4bn

12.00 SWE Riksbank’s af Jochnick hold speech “Kick-off for the monetary policy meeting in September”

12.00 UK CBI industrial trends orders Aug -10 -6

14.45 US Fed’s Lockhart speaks

15.00 NOR Norges Bank Governor Olsen speaks (only charts published)

EMU Greece’s PM Samaras in meeting with the head of the Eurogroup Juncker.

Wed 22 Gov auctions Sweden auctions SEK3.5 bn in 10y bond (11.00), Germany sells EUR 5bn in 2y bond (11.30)

Q2 reports Sydbank (before 9.00), Hewlett Packard (23.00)

01.50 JAP Trade balance Jul JPY -261.0bn JPY 60.3bn

03.00 ICE Sedlabanki rate announcement --- 5.75%

10.00 NOR Unemployment, LFS Jun 3.1%* 3.0%

14.30 CAN Retail sales / ex. auto Jun 0.1% / 0.2% 0.3% / 0.5%

16.00 US Existing home sales Jul 4.50m 4.37m

20.00 US FOMC minutes from Aug 1 meeting

Thu 23 Gov auction UK sells 6y bond (11.30), US sells USD 14bn in 5y TIPS (19.00)

Q2 reports Hufuvstaden, JM, China Unicom

04.30 CHI PMI manufacturing (HSBC/Markit) Aug --- 49.3

08.00 GER GDP Q2 f 0.3%, 1.0% y/y 0.3%, 1.0% y/y

08.00 SWI Trade balance Jul --- CHF 2.19bn

09.30 SWE Unemployment / seas. adj. Jul 7.1% / 7.5%* 8.8% / 7.5%

09.58 EMU PMI manufacturing /services/ composite Aug 44.3 / 47.9 / --- 44.0 / 47.9 / 46.5

10.00 NOR GDP / mainland Q2 1.2%, 4.7% y/y/1.0%, 3.7%y/y* 1.4%, 4.3%y/y / 1.1%, 4.5%y/y

14.30 US Initial claims 18 Aug 365k 366k

14.58 US PMI manufacturing (Markit) Aug 51.3 51.4

16.00 EMU Consumer sentiment Aug -22.0 -21.5

16.00 US FHFA house prices / new home sales Jun/Jul 0.5% / 365k 0.8% / 350k

EMU Merkel and Hollande hold a meeting

EMU Greece’s PM Samaras visits Berlin and Paris for discussions with Merkel and Hollande.

Fri 24 10.30 UK GDP Q2 f -0.5%, 0.6% y/y -0.7%, -0.8% y/y

14.30 US Durable goods orders / ex-transport Jul 1.6% / 0.5% 1.3% / -1.4%

15.00 BEL Business confidence Aug -11.0 -11.3

SWE Government budget negotiations. Finance minister Borg expected to present updated forecasts.

Richard