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Fear and Uncertainty in the Markets

Fri, Nov 14 2008, 14:45 GMT
by Guillermo Alcalá

FXstreet.com


The week we leave behind has been a week marked by fear and uncertainty in the markets, the uncertain economic situation has affected particularly the British Pound which has plunged to historical lows against the yen, reaching levels around 140. Against the Dollar, the Pound has plunged below the 1.5 level and the EUR/GBP has reachd the 0.85 level.

This weekend, attention will be focused in the G20 meeting, aimed to find ways to find out solutions against the global crisis, although the level of expectations surrounding teh event are rather low.

In the macro economic domain last week we have seen the Europeasn Union entering into recession fotrr the first time since tihe Union was created, while Te ECB's monthly report warned the unusually high level of uncertainty economy is going through, while stating the decline of consumer spending and its consequences over the manufacturing sector.

Next week we have got several important events to check out:


Sunday Nov 16

  • G 20 Meeting
  • 23:50: Japan Gross Domestic Product - 3Q (Previous: -0.7%; annualized: -3%)
  • 23:50: Japan Tertiary Industry Index - September (Previous: -1.4%)

Monday Nov 17


  • 00:01: United Kingdom Rightmove House Price Index - October (Previous: 1% m/m; -4.9% y/y)
  • 10:00: European Monetary Union Trade Balance - September (Previous: -EUR9.3B)
  • 13:30: United States NY Empire State Manufacturing Index - November (Previous: -24.62)
  • 14:15: United States Industrial Production - October     (Previous: -2.8%)

Tuesday Nov 18

    
  • 00:30: Australia RBA Meeting's Minutes - November
  • 05:00: Japan Leading Economic Index - September (Previous: 89)
  • 08:15: Switzerland Adjusted Real Retail Sales - September (Previous: 0%)
  • 09:30: United Kingdom Consumer Price Index - October (Previous: 0.5% m/m; 5.2% y/y)
  • 09:30: United Kingdom Retail Price Index - October(Previous: 0.6% m/m; 5.0% y/y)
  • 13:30: United States Producer Price Index - October (Previous: -0.4% m/m; 8.7% y/y)
  • 14:00: United States Net Long-term TIC Flows - September (Previous: $14B)
  • 21:45: New Zealand Producer Price Index - 3 Qtr (Previous: Output 3.5%; input 5.6%)
  • 23:50: Japan All Industry Activity Index - September (Previous: -1.8%)

Wednesday Nov 19


  • 09:30: United Kingdom Bank of England Minutes
  • 13:30: Canada Canadian Investment in Foreign Securities - September (Previous: C$0.172B)
  • 13:30: Canada Foreign investment in Canadian securities - September (Previous: C$0.73B)
  • 13:30: Canada Leading Indicators - October (Previous: -0.2%)
  • 13:30: United States Consumer Price Index - October (Previous:  4.9% Y/Y; core CPI: 2.5% Y/Y)
  • 13:30: United States Housing Starts - October (Ptrevious: 0.817M)
  • 19:00: United States FOMC Minutes
  • 23:50: Japan Adjusted Merchandise Trade Balance - October (Previous:  ¥33B)

Thursday November 20


  • 07:00: Germany    Producer Price Index - October (Previous: 0.3% m/m; 8.3% y/y)
  • 07:15: Switzerland Trade Balance - October (Previous:     1.44B)
  • 09:30: United Kingdom Retail Sales - October (Previous: -0.4% m/m; 1.8% y/y)
  • 15:00: United States Philadelphia Fed Manufacturing Survey - November (Previous: -37.5)
  • 15:00: United States Leading Indicators - October (Previous:     0.3%)
  • n/a:   United States Treasury Secretary Paulson speaks

Friday November 21

    
  • n/a: Japan BoJ Interest Rate Decision
  • n/a: Japan BoJ Press Conference  
  • 08:30: Germany    Flash Purchasing Manager Index Manufacturing - November (Previous: 42.9)
  • 09:00: European Monetary Union    Flash Purchasing Manager Index Manufacturing - November (Previous: 41.1)
  • 11:00: Canada    Consumer Price Index - October (Previous: 3.4% y/y; Core CPI: 1.7% y/y)

Published on  Fri, Nov 14 2008, 14:51 GMT


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