Quote:
‘Dangers by being despised grow great.’ Edmund Burke (1729-1797)
The News:
FOMC minutes show that reducing inflation is their most important concern.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
00:30 GB October RICS House Price Balance 48% vs 46% September. AU Reserve Bank of Australia’s Monthly Bulletin.
06:00 JP November Bank of Japan Monthly Report; 06:30 Governor Fukui speaks at regular conference.
09:30 GB October Retail Sales (+0.2% to +0.6% M/M, +2.9% to +3.5% Y/Y, versus –0.4% and +3.2% September).
10:00 E12 October CPI (-0.1% to +0.2% M/M, +1.6% to +1.7% Y/Y, Core +1.4% to +1.6% Y/Y, vs 0%/+1.7%/1.5%).
13:30 US October CPI (-0.5% to –0.2% M/M, Ex-food and energy +0.1% to +0.3% M/M, vs –0.5% and +0.2% Sep).
13:30 US Weekly Jobless Claims (300K to 330K versus 308K prior week).
13:30 CA September International Securities Transactions (-C$1.000 to +C$1.000 versus +C$0.335 August).
14:00 US September Net long-term TIC flows ($50B to $85B versus $116.8B August).
14:10 US Fed’s Kroszner speaks; Poole at 14:45; Moskow at 15:00.
14:15 US October Industrial Production (-0.4% to +0.6%, Capacity Utilisation 81.5% to 82.3%, vs –0.6% and 81.9% ).
17:00 US November Philadelphia Fed Survey (-1.5 to +10.0 versus –0.7 October).
18:00 US November NAHB Housing Market Index (28 to 35 versus 31 October).
The Psychology:
Bank of Japan ends a two-day rate-setting meeting; unchanged at 0.25%.
The Risk:
19:00 GB Bank of England deputy governor speaks at Financial Stability Forum.
Today’s most interesting chart:
Dow Jones Industrial Average New all-time high.
