Quote:
‘The strongest principle of growth lies in human choice’ George Eliot (1819-1880)
The News: Australian Q1 Weighted CPI +0.5% Q/Q +2.7% Y/Y, inside Reserve bank target 2% to 3%.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
From today DE March Import Prices (+0.3% to +0.6% M/M, +0.5% to +0.9% Y/Y, vs +0.5% and +0.8% February).
00:50 JP March Corporate Services Prices +0.6% Y/Y versus 0.4% February.
09:00 EZ February Current Account (-€0.5B to +€3.0B, -€3.0B to +€4.0B NSA, versus +€2.7B and -€6.0B January).
09:30 GB March PSNCR (£12.0B to £17.9B, net Borrowing £6.0B to £8.8B, versus £1.9B £1.0B February).
10:00 EZ February Industrial New Orders (+0.5% to +2.5% M/M, +4.2% to +9.5% Y/Y, vs –0.2% and +12.0% Jan).
13:30 CA March Leading Indicator (+0.4% to +0.8% M/M versus +0.7% February).
14:00 CA Bank of Canada interest rate decision (unanimously expected unchanged 4.25%).
14:15 GB April CBI Industrial Trends Survey (0 to 10 versus 8 March).
15:00 US April Richmond Fed Manufacturing Index (-9 to –5 versus –10 March).
15:00 US April Consumer Confidence (Mizuho Securities 103.0 versus 107.2 March).
15:00 US March Existing Home Sales (Mizuho Securities 6.4M versus 6.69M February).
The Psychology:
US Treasury auctions five-year TIPS and UK 1.125% 2037 Index Linked Gilts.
The Risk:
US investors too confident in assuming Dow Industrials will hit 13,000.
Today’s most interesting chart:
NYMEX Gasoline Well over $2 per gallon.
