Fri, Oct 10 2008, 07:01 GMT
by Nicole Elliott
technical analysis will be away until monday 20th october
‘The burgeoning Federal deficit marks the end of the dollar as a reserve currency. And good riddance to it. Its exalted status only served to shore up America’s prestige and allow the US to borrow to support unwise adventures.’ Irwin Stelzer (1932-)
General Motors share price drops to $5.42, lowest since 1950.
British Summer Time, with expectations and previous figures in brackets.
00:50 JP September Bank of Japan Minutes of 16th/17th rate-setting meeting.
00:50 JP September M3 Money Supply +0.9% Y/Y, Bank Lending +2.4%, versus +1.0% and +2.2% August.
06:45 CH September Jobless 2.6% versus 2.5% August.
12:00 CA September Employment (-5K to +25K, Unemployment 6.1% to 6.3%, versus +15.2K and 6.1% August).
13:30 CA August New Housing Price Index (-0.1% to +0.3% M/M versus +0.1% July).
13:30 CA August Trade Balance (+C$3.0B to +C$5.2B versus +C$4.9B July).
13:30 US August Trade Balance (-$61.5B to -$56.0B versus -$62.2B July).
13:30 US September Import Price Index (-4.4% to –0.4% M/M, +10.2% to +14.1% Y/Y, versus –3.7% August).
G7 finance ministers meet in Washington. Annual meeting of the IMF and World Bank Monday 13th which are holidays in Canada, Israel and Japan. Parliamentary elections Canada Tuesday 14th.
Technical Analysis will be away until Monday 20th October.
Second 10% daily drop this week taking it closer to 2003 and 1983 lows.
Published on Fri, Oct 10 2008, 07:01 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
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