European woes eclipsed by US NFP data
The last day of the trading week which has been dominated by news about the Greek debt swap deal is virtually devoid of any new information on the matter. Despite every day declarations made by various officials that the PSI agreement is very close to being finalized, doubts are growing over whether it will happen in the nearest future.
Another ECB rate cut possible shortly; BoE might announce more QE
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Katarzyna Komorowska − ECB's February monetary policy meeting draws market attention as many think another 25 bps rate cut is imminent, although it is not sure whether Mario Draghi will proceed with it next week, or will want to wait a little longer.
| Feb 9 12:45 GMT | 1% Consensus | 1% Previous |
Australia RBA Interest Rate Decision
Tue, Feb 07 2012, 03:30 GMT
UK BoE Interest Rate Decision
Thu, Feb 09 2012, 12:00 GMT
| GMT | Vol. | Event | Actual | Con. | Prev. | |
|---|---|---|---|---|---|---|
| Feb 3 | ||||||
| 13:30 | US | 3 | Unemployment Rate | 8.3% | 8.5% | 8.5% |
| 15:00 | US | 1 | Factory Orders (MoM) | 1.1% | 1.5% | 2.2% Revised from 2.2% |
| 15:00 | US | 2 | ISM Non-Manufacturing | 56.8 | 53.1 | 52.6 |
| Feb 5 | ||||||
| 23:30 | AU | 2 | TD Securities Inflation (YoY) | 2.4% | ||
| 23:30 | AU | 1 | TD Securities Inflation (MoM) | 0.5% | ||
| Feb 6 | ||||||
| 00:30 | AU | 1 | ANZ Job Advertisements | -0.9% | ||
| 00:30 | AU | 2 | Retail Sales s.a. (MoM) | 0% | ||
| n/a | UK | 2 | Halifax House Prices (3m/YoY) | -1.3% | ||
| n/a | UK | 1 | Halifax House Prices (MoM) | 0.1% | -0.9% | |
| 09:30 | EMU | 2 | Sentix Investor Confidence | -14.3 | -21.1 | |
| 11:00 | DE | 2 | Factory Orders s.a. (MoM) | -0.3% | -4.8% | |
| 11:00 | DE | 2 | Factory Orders n.s.a. (YoY) | -4.3% | ||
| World Interest Rates | |||||||
|---|---|---|---|---|---|---|---|
| US: 0.25% | EMU: 1% | UK: 0.5% | JP: 0.1% | CH: 0% | CA: 1% | AU: 4.25% | NZ: 2.5% |
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The markets are cautious but vibrating with the desire to rally
Rockefeller Treasury Services, Inc. − We have all been saying Greece is going to default for real one of these days, but now "one of these days" could be Monday, or the Monday after. We think this a euro−favorable outcome...
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