Mon, Jul 21 2008, 14:46 GMT
by Adam Narczewski
After last week’s vast amount of information, this week investors can catch their breath. Still, some reports can move the markets, especially the U.S housing market publications.
The beginning of the week should be slow. On Monday, no news bring my attention. On Tuesday, the most important report will be regarding Canadian retail sales. Also, speeches by Bank of England’s Governor King, U.S Treasury Secretary Paulson and FOMC Member, Plosser. I would focus on King’s speech, who is due to testify, along with BOE Deputy Governor Sir John Gieve, on banking reforms before Parliament’s Treasury Committee in London.
On Wednesday investors should still focus on the UK (MPC meeting minutes) and Canada (CPI and Core CPI inflation). From the U.S we will get the crude oil inventories publication and the Beige Book (recently ignored by analysts). For investors playing on the NZD it needs to be mentioned that New Zealand’s central bank will release its interest rate statement. No change from the current 8.25% is expected.
News from Europe will bring investors’ attention on Thursday morning. We will get to know the manufacturing PMI from the Euro zone and German Ifo Business Climate Index. Later on, the UK will release its retail sales report. In the afternoon, the most important publication from the U.S will be released - Existing Home Sales. Following this, on Friday the New Home Sales report will be published. Those publication should give us a better view of what is going on in the American housing market. Last week’s reports (building permits and building starts) were much better than expected giving investors hope that the market sector that caused the global crisis, is finally recovering.
Published on Mon, Jul 21 2008, 14:50 GMT
X-Trade Brokers Dom Maklerski SA
| Robert.kosowski@xtb.pl; 00-876 Warszawa
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