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Crisis at the Euro Zone
Oct 7, 10:55 GMTEurope reacts to the global crisis
European countries are planning to take their first specific joint actions in order to protect the small private investor from the financial crisis. The finance ministers of the Euro Zone reached an agreement, which still must be approved by the EU27, to raise the maximum bank deposits guarantee to 40,000 euros.
Real-time economic calendar
| Date (GMT) | Country | Event | Actual | Cons. | Previous | |
| Oct 8 | 00:30 | AU | Home Loans (Aug) | -2.3% | -1.0% | -0.2% |
| 05:00 | JP | Bank of Japan Monthly Economic Survey (Aug) | ||||
| 05:00 | JP | Eco Watchers Survey: Outlook (Sep) | 32.1 | 32.0 | ||
| 09:00 | EMU | Gross Domestic Product s.a. (QoQ) (2Q) | -0.2% | 0.7% | ||
| 09:00 | EMU | Gross Domestic Product s.a. (YoY) (2Q) | 1.4% | 2.1% | ||
| 09:30 | UK | BRC Shop Price Index (YoY) (Sep) | 3.8% | |||
| 10:00 | DE | Industrial Production s.a. (MoM) (Aug) | -0.2% | -1.8% | ||
| 10:00 | DE | Industrial Production s.a. w.d.a. (YoY) (Aug) | -2.9% | -0.6% | ||
| 11:00 | US | MBA Mortgage Applications (Oct 3) | -23% | |||
| 12:15 | CA | Housing Starts s.a (YoY) (Sep) | 209K | 211K | ||
| 14:00 | US | Pending Home Sales (MoM) (Aug) | -1.1% | -3.2% | ||
| 14:35 | US | EIA Crude Oil Stocks change | 4.3M | |||
| 23:50 | JP | Core Machinery Orders (MoM) (Aug) | -2.7% | -3.9% | ||
Top Market Movers Preview
EMU GROSS DOMESTIC PRODUCT S.A.
| Date (GMT) | Event | Cons. | Previous | |
| Oct 8 | 09:00 | Gross Domestic Product s.a. (QoQ) | -0.2% | 0.7% |
| Oct 8 | 09:00 | Gross Domestic Product s.a. (YoY) | 1.4% | 2.1% |
EMU economic indicators - EMU GDP probably unchanged by BHF-Bank
Q2 EMU GDP is not expected to be revised significantly. The German trade balance might have rebounded somewhat in August, after it had declined unexpected heavily in July. However, the German current account is likely to have continued deteriorating in August.
[ Full Story ]Top Market Movers Review
US FOMC MINUTES
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 7 | 18:00 | FOMC Minutes | - | - | - |
At most recent meeting, some Fed officials suggested rate cut 'could' be needed (Thomson Financial News)
Some Federal Open Market Committee members said an interest rate cut "could be required" if financial conditions substantially worsen the economic growth outlook, according to minutes from the Fed's latest policy meeting.
[ Full Story ]- Read the Minutes of Federal Open Market Committee at the Fed
- FOREX-Dollar extends losses versus euro on Fed minutes (Thomson Financial News)
- US RATE FUTURES-Minutes, Bernanke boost Fed cut ideas (Thomson Financial News)
Daily Market Briefing - US Dollar Rockets Higher on Demand for Treasuries, Will the FOMC Minutes Trigger a Sell-off? by FXCM
US FED'S BERNANKE SPEECH
| Date (GMT) | Event | Actual | Cons. | Previous | |
| Oct 7 | 17:15 | Fed's Bernanke Speech | - | - | - |
Bernanke signals readiness to cut U.S. rates (Thomson Financial News)
U.S. Federal Reserve Chairman Ben Bernanke on Tuesday signaled a readiness to lower U.S. interest rates in a dramatic shift to support an economy battered by a financial crisis of "historic dimension."
[ Full Story ]- Speech by Chairman Bernanke at the Fed
- Bernanke-inflation outlook better but could reverse (Thomson Financial News)
- FINEWS-Bernanke says inflation to moderate significantly (Thomson Financial News)
- US STOCKS-Market extends losses after Bernanke's comments (Thomson Financial News)
The Editor's Selected Reports
Currencies Fundamentals
Morning Report - Panic continued to grip global markets in London/NY trade by Westpac Institutional Bank
Tue, Oct 7 2008, 14:07 GMT
Daily Market Briefing - US Dollar Rockets Higher on Demand for Treasuries, Will the FOMC Minutes Trigger a Sell-off? by FXCM
Tue, Oct 7 2008, 06:16 GMT
World Economy
Weekly Market Commentary - Counterparty risk is at the core of current woes by Mizuho Corporate Bank
Mon, Oct 6 2008, 10:05 GMT
Friday Notes - The European Contagion by HVB Group
Fri, Oct 3 2008, 06:36 GMT
Webinar videos
What may we expect for the rest of the year? by Adam Rosen
More videos available in our "Transcripts" section.
Latest Economic Data Reports
Economic Indicators
Hungary: Budget Balance – September by Erste Bank der oesterreichischen Sparkassen AG
Tue, Oct 7 2008, 16:49 GMT
USA: Employment - Broad Based Decline Consistent With Recession by Wachovia
Mon, Oct 6 2008, 15:52 GMT
USA: Unlike Manufacturing, Service Sector Activity Holds Up In September by Wachovia
Mon, Oct 6 2008, 15:48 GMT
US: employment turns recessionary by Danske Bank A/S
Mon, Oct 6 2008, 09:10 GMT
Interest Rates
Japan: BoJ leaves interest rates unchanged by Danske Bank A/S
Tue, Oct 7 2008, 09:14 GMT
ECB - Preparing for a rate cut by Danske Bank A/S
Thu, Oct 2 2008, 16:39 GMT
ECB Trichet Paves the Way for Rate Cut and Possibly Coordinated Easing by GFT (Global Forex Trading)
Thu, Oct 2 2008, 13:24 GMT
ECB: Preview of meeting on October 2 by Danske Bank A/S
Thu, Oct 2 2008, 08:59 GMT
Related Markets
The Mid-Day Minute - Countertrend Rally for GDX Gold Mining ETF by MPTrader.com
Wed, Oct 8 2008, 06:52 GMT
Overnight Briefing - Dow Jones down 5.1 % by Jyske Bank
Wed, Oct 8 2008, 06:43 GMT
London Gold Market Report by BullionVault.com
Tue, Oct 7 2008, 13:10 GMT
Latest Updated Reports
Market View
Daily U.S. Forex Summary - The Canadian dollar continued its descent against the US dollar by Union Bank of California
Wed, Oct 8 2008, 07:25 GMT
Insights Market Outlook - The World in Crisis: Where are the Safe Havens? by Merk Hard Currency Fund
Tue, Oct 7 2008, 16:24 GMT
CEE Quarterly - Global financial and economic weakness testing CEE by Yapi Kredi Bank
Tue, Oct 7 2008, 15:39 GMT
Fundamental Analysis
Flash Comment - US: Fed targets the CP market by Danske Bank A/S
Wed, Oct 8 2008, 07:38 GMT
Overnight Briefing - Dow Jones down 5.1 % by Jyske Bank
Wed, Oct 8 2008, 06:43 GMT
U.S Market Update - U.S Market Update by TradeTheNews.com
Tue, Oct 7 2008, 15:42 GMT
