THE ECB is set to meet on Thursday but although the euro zone is now officially out of recession, an interest rate hike is not expected. However, the post-meeting conference will be closely watched for any changes of tone.
The National Competitiveness Council will launch a new report – Ireland’s Competitive Challenge – next Thursday, which is expected to stimulate further debate.
In terms of economic indicators, the main focus will be on the latest consumer prices, consumer confidence and construction PMI data.
TODAY
Japanese market holiday.
Results:Alcoa.
Meeting: Taoiseach Brian Cowen to speak at Citi Capital Markets European Roadshow (Shelbourne Hotel, Dublin 2); Transparency International Ireland to launch new report on safeguards for whistleblowers in Ireland – speakers include former AIB internal auditor Eugene McErlean (Buswells Hotel, Dublin 2).
Indicators:Irish Ulster Bank construction PMI (December), industrial production (Dec) and house prices (November).
TOMORROW
Results: SuperValu.
Meeting:Bank of Ireland egm for the proposed application to become a participating institution in Nama (O'Reilly Hall, UCD); IFA agm (Irish Farm Centre, Bluebell, Dublin 12); BT Young Scientist and Technology Exhibition (to 16th, RDS).
Indicators:Irish consumer confidence (Dec) and live register additional tables (Dec); US trade balance (Nov); UK BRC retail sales (Dec), RICS house price balance (Dec), BCC quarterly manufacturing survey (Q4), DCLG house prices (Nov) and trade balance (Nov); OECD harmonised unemployment rates.
Other:Interim management statement from Geberit.
WEDNESDAY
Meeting:Seminar on commercial high pressure processing (HPP) of food (to 14th, AFBI Headquarters, Belfast).
Indicators:EU-16 industrial production (Nov); Irish vehicles licensed for the first time (Dec); Us federal budget (Dec); UK NIESR GDP estimate (three months to Dec); German GDP (2009); French final HICP (Dec); Italian Industrial production (Nov).
Other:Examinership hearing of private residence club Residence back in Commercial Court; trading update from SIG.
THURSDAY
Indicators:ECB interest rate announcement; Irish consumer prices (Dec); US export prices (Dec), initial jobless claims (w/e January 8th), retail sales (Dec), business inventories (Nov) and Federal Reserve publishes beige book; German final CPI (Dec).
Other:Trading statement from Barratt Developments; National Competitiveness Council publishes report on Ireland's Competitive Challenge.
FRIDAY
Indicators: EU-16 final HICP (Dec); Irish capital assets in industry (Q3) and industrial stocks quarter (Q3); US CPI (Dec), NY Fed – Empire State manufacturing index (Jan), industrial production (Dec) and Michigan sentiment (Jan – preliminary).
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