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- New York 11:47
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Weekly Market View
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Stock markets continue weakening
Mon, Nov 24 2008, 08:13 GMT
by Guillermo Alcalá
This past week we have seen inflation declining at a well sharper than expected pace in the United States aswell as in Canada. In the US Consumer prices posted the largest monthly drop in 61 years which has arisen concerns about deflation adding pressutre to the actual global crisis.
In Switzerland, the Swiss National Bank approved a surprising 1.0% rate cut on Thursday, leaving the Libor Rate at 1%, while the Bank of Japan kept rates on Hold at 0.30%
Stock indexes have declined for four days in a row and on that negative landscape, the Yen and the Dollar have been favoured, appreciatting considerably against other currencies. The USDCAD has reaced 1.2984, the USDJPY has declined throughout the week to reach a 93.5650.
Next week we have got several important events to check out:
Monday Nov 24
- 09:00 European Monetary Union Current Account - September (Previous: -7.9 Bill)
- 09:00 Germany IFO - Business Climate - November (Previous: 90.2)
- 10:00 European Monetary Union Industrial New Orders - September (Previous: -1.2% m/m; -6.6% y/y)
- 15:00 United States Existing Home Sales - Octobeer (Previous: 5.5%)
Tuesday Nov 25
- 02:00 New Zealand RBNZ Inflation Expectations - 4Q (Previous: 3)
- 06:00 Japan Bank of Japan Monthly Economic Survey
- 07:00 Germany Gross Domestic Product - 3Q (Previous: -0.4 Q/Q; 3.3% y/y)
- 07:10 Germany Gfk Consumer Confidence Survey - December (Previous: 1.9)
- 09:30 United Kingdom BBA Mortgage Approvals - October (Previous; 43.422K)
- 13:30 Canada Retail Sales - September (Previous: -0.3%; ex autos: -0.3%)
- 13:30 United States Gross Domestic Product Annualized - 3Q (Previous: 2.8%)
- 13:30 United States Gross Domestic Purchases Price Index - 3Q (Previous: 4.2%)
- 15:00 United States Richmond Fed Manufacturing Index - November (Previous: -26)
- 15:00 United States Consumer Confidence - November (Previous: 38)
Wednesday Nov 26
- 08:00 Japan BoJ's Governor Shirakawa Speech
- 09:30 United Kingdom Gross Domestic Product Prelim. - 3Q (Previous: 0% Q/Q;1.5% y/y)
- n/a Germany Consumer Price Index Prelim. - November (Previous: -0.2% m/m% 2.4% y/y)
- 13:30 United States Core Personal Consumption Expenditure - Prices Index (Previous: 0.2% m/m; 2.4% y/y)
- 13:30 United States Durable Goods Orders - October (Previous: 0.8% ; ex-transport -1.1% )
- 14:45 United States Chicago Purchasing Managers' Index - November (Previous: 37.8)
- 14:55 United States Reuters/Michigan Consumer Sentiment Index - November (Previous: 57.6)
- 15:00 United States New Home Sales - October (Previous: 464K)
- 21:45 New Zealand Trade Balance - October (Previous: -1183 mill.)
- 23:50 Japan BoJ Minutes
Thursday November 27
- 02:00 New Zealand Business Confidence - November (Previous: -42.4)
- 07:00 United Kingdom Nationwide Housing Prices n.s.a - October (Previous: -1.4% m/m; .14.6% a/a)
- 08:15 Switzerland Employment Level - 3Q (Previous: 3.92 mill.)
- 08:55 Germany Unemployment Change - November (Previous -26K)
- 10:00 European Monetary Union Consumer Confidence - November (Previous: -24)
- 23:15 Japan PMI Manufacturing Index - October (Previous: 42.2)
- 23:30 Japan Jobless Rate - October (Previous: 4%)
- 23:30 Japan National Consumer Price Index - October (Previous: 2.1% y/y; ex food & energy 0.2%)
- 23:30 Japan Tokyo Consumer Price Index - November (Previous: 1.2% y/y; ex food and energy: 0.4%)
- 23:50 Japan Industrial Production Prelim. - October (Previous: 1.1% m/m; 0.2% y/y)
- 23:50 Japan Retail Trade - October (Previous: -0.5% m/m; -0.4% y/y)
Friday November 28
- 00:01 United Kingdom Gfk Consumer Confidence - November (Previous: -36)
- 10:00 European Monetary Union Consumer Price Index Ptrelim. - November (Previous: 3.2% y/y)
- 10:00 European Monetary Union Unemployment Rate - October (Previous: 7.5%)
- 11:00 United Kingdom CBI Distributive Trades Survey - Realized - November (Previous: -27)
- 13:30 Canada Current Account - October (Previous: 6.8B)
Published on Mon, Nov 24 2008, 08:14 GMT
Archive
- Historically low interest rates to boost economic recovery
Published On Mon, Jan 12 2009, 09:16 GMT - Historically low interest rates to boost economic recovery
Published On Fri, Jan 9 2009, 15:41 GMT - Central Banks rushing to 0% interest rates
Published On Mon, Dec 22 2008, 09:27 GMT - Central Banks rushing to 0% interest rates
Published On Fri, Dec 19 2008, 16:42 GMT - Auto bailout fails, stock indexes drop
Published On Mon, Dec 15 2008, 09:06 GMT
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