Quote:
‘Society doesn’t believe gaming is as damaging as it is. Everyone’s in denial. But saying, ‘Go play on the computer’ is like saying, ‘Take this crack for a while’.’ Keith Bakker (1959-)
The News:
Incomes Data Services says UK wages +3.2% Y/Y 3-months to September, smallest in a year.
The Numbers: Greenwich Mean Time, with expectations and previous figures in brackets.
06:45 CH October CPI +0.9% M/M, +1.3% Y/Y, versus +0.1% and +0.7%September.
08:30 DE October Manufacturing PMI (52.7 to 55.0 versus 54.9 September).
09:00 EU October Manufacturing PMI (51.5 to 52.0 versus 51.5 September).
09:30 GB October Construction PMI (58 to 60 versus 60.3 September).
11:00 CA October Employment Change (+5K to +25K, Unemployment 5.8% to 6.0%, vs +51.5K and 5.9% Sep).
12:30 US October Non-Farm Payrolls (Mizuho Securities +70K (10K to 110K), Unemployment 4.6% to 4.8%, versus +110K and 4.7% September).
12:30 US October Hourly Earnings (Mizuho Securities +0.3% M/M, Workweek 33.7 to 33.9, vs +0.4% and 33.8 Sep).
14:00 US September Factory Orders (Mizuho Securities –1.5% M/M (-1.5% to +1.9%) versus –3.3% August).
14:00 US Fed holds an open meeting on Basel II capital requirements. 15:00 ECB’s Weber speaks at the opening of the Institute for Currency and Financial Stability, Frankfurt.
The Psychology:
Clocks go back on hour in Canada and the US Sunday 4 th November.
The Risk:
Stock markets, especially financials, slip again.
Today’s most interesting chart: US 2-year TNote yield
‘Bearish engulfing’ candle at 4.00% yesterday.
