Country Time (GMT/EST)
Indicator // Forecast/Actual // Previous Release
Monday December 17
Germany 0900/4:00am IFO Business Sentiment Index (December) 84.0f 84.7
Canada 1330/8:30am Composite Index m/m (November) +0.1%f +0.1%
US 1800/1:00pm NAHB Housing Market Index (December) 45f 49

Tuesday December 18
France 0245/7:45am Current Account EURbln (October) NA 1.9
Italy 0800/3:00am HICP m/m (November, final)--y/y +0.2%f //+2.3%f +0.2% (prelim)//+2.3% (prelim)
US 1330/8:30am Housing Starts mln (November) Building Permits mln (November) 1.55f //NA 1.55//1.49 Canada 1330/8:30am Manufacturing Shipments m/m (October) -
-Orders //-Inventories +0.5%f// +1.0%f // NA -2.5% // -2.3% //-0.7%
US 1400 / 9:00am BTM-UBSW Store Sales wk/wk (Dec 15 wk.) NA -0.4%
US 1400 / 9:00am Redbook Store Sales m/m (2nd week Dec) NA -4.5%

Wednesday December 19
Italy 0800/3:00am Non-EU Trade Balance ITLtln (November)
Global Trade Balance ITLtln (October) NA //NA 3.9 //-0.9
Italy 0830/3:30am ISAE Business Confidence Index (November) --Outlook NA// NA 84// 0
Italy 0900/4:00am Industrial Orders m/m (October) --y/y NA// NA -6.6% // -10.0%
UK 0930/4:30am Business Investment Stgbln (Q3, final) 29.3f 29.3 (prelim)
UK 0930/4:30am Non-EU Trade Balance Stgbln (November)
Global Trade Balance Stgbln (October) NA //NA -1.7 // /-2.2
EU 1100/6:00am HICP m/m (November, final) --y/y 0.0%f// +2.1%f 0.0% (prelim) // +2.1% (prelim)
EU 1100/6:00am Industrial Production m/m (October) --y/y NA// NA -0.5% // -0.6%
US 1200/7:00am Mortgage Apps for Purchase (wk ending Dec 14) NA 342.7
US 1215/7:15am ABC Consumer Confidence (wk. ending Dec 15) NA -3
US 1330/8:30am International Trade USDbln (October) -22.0f -18.7
Canada 1330/8:30am International Trade CADbln (October) 3.9f 4.7
Canada 1330/8:30am Wholesale Sales m/m (October) // --Inventories NA // NA -0.9% // -0.9%
US 1500/10:00am Leading Indicator m/m (November) +0.4%f +0.3%

Thursday December 20
France 0745/2:45am CPI m/m (November, final) --y/y -0.3%f // +1.3%f -0.3% (prelim) // +1.3% (prelim)
France 0750/2:50am Consumer Goods Spending m/m (November) --y/y NA // NA -0.4% // +3.0%
Italy 0800/3:00am GDP q/q (Q3, final) --y/y +0.2%f // +1.9%f +0.2% (prelim) //+1.9% (prelim)
Italy 0830/3:30am ISAE Consumer Confidence (December) NA 121.5
UK 0930/4:30am GDP q/q (Q3, final) +0.5%f +0.5% (prelim)
UK 0930/4:30am M4 Money Supply y/y (November) NA +8.1%
UK 0930/4:30am Consumer Credit m-m Stgbln (November) NA 1.5
Italy 1130/6:30am 11 Cities CPI m/m (December) NA +0.2%
US 1330/8:30am Initial Claims 000s (wk. end December 15) NA 394
Canada 1330/8:30am Retail Sales m/m (October) --Ex-Motor Vehicles +1.0%f // NA -1.7% // -1.1%
US N Semiconductor Book-to-Bill Ratio (November) NA 0.71
US 1700/12:00pm Philly Fed Survey (December) -25f -20.2
US 1900/2:00pm Treasury Statement USDbln (November) NA -23.7 (Nov 00)
Japan 2350/6:50pm Tertiary Activity Index m/m (October) NA -0.9%

Friday December 21
France 0745/2:45am Hourly Wages q/q (Q3, final) +1.0%f +1.0% (prelim)
Italy 0800/3:00am Retail Sales m/m (October) --y/y NA // NA -0.2% // +0.4%
EU 1100/6:00am International Trade Balance EURbln (October) NA 3.8
Canada 1200/7:00am CPI m/m (November) --Core -0.3%f // NA -0.5% // -0.2%
US 1330/8:30am GDP q/q (Q3, final) // --Final Sales //--Corporate Profits -1.1%f // -0.3%f // -7.1%f -1.1% (prelim) // -0.3% (prelim) // -7.1% (prelim) // US 1330/8:30am Personal Income m/m (November)
Personal Consumption m/m (November) -0.1%f //-0.8%f 0.0% //2.9%
US 1445/9:45am U. Michigan Consumer Sentiment (Dec, final) 85.0f 85.8 (prelim)

Other data due out this week:
Germany to release October Construction Orders. Forecast NA. Previous -5.2% m/m -6.6% y/y.
Germany to release November ICON Consumer Confidence. Forecast NA. Previous 92.
Germany to release November PPI. Forecast NA. Previous -1.6% m/m -5.6% y/y.
Germany to release November Import Price Index. Forecast NA. Previous -1.4% m/m -5.5% y/y.
Germany to release December HICP. Forecast NA. Previous -0.2% m/m +1.5% y/y.
significant releases in blue text


Event Calendar – December 17 to December 21 (all times in GMT/EST)
December 17
ECB member Welteke at press conference introducing euro notes and coins (0930/4:30am)

December 18
Bank of Japan monetary policy meeting (NA)
ECB President Duisenberg to appear before EU Parliament's Economic and Monetary Affairs Committee (1530/10:30am)

December 19
Bank of Japan rates decision (NA)
Bank of England to publish minutes of December 4-5 meeting (0930/.4:30am)

December 20
European Central Bank meeting on non-monetary policy issues; statement (1330/8:30am)

December 21
BOJ Governor Hayami Press Conference (0600/1:00am)