Quote:
‘One of the uses of women is that their motivations, though often similar, are less elaborately disguised than those of men’. J. K. Galbraith (1908-2006)
The News:
China’s central bank warns that inflation pressures may become more entrenched.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
06:45 CH Q4 Consumer Confidence 15.0 versus 15.0 Q3.
07:00 DE October Wholesale Price Index M/M, Y/Y, versus +0.9% and +4.0% September.
09:30 GB September Trade Balance (-£7.2B to -£6.5B, Non-EU -£4.2B to -£3.0B, versus -£6.8B and -£3.9B August).
11:00 EZ13 September OECD Leading Indicator (versus 107.3 August).
13:30 US September Trade Balance (Mizuho Securities -$59.0B, Import Prices +1% to +2% M/M, vs -$57.6B/+1%).
13:30 CA September Trade Balance (+C$3.4B to +C$4.5B versus +C$4.1B August).
15:00 US November University of Michigan Confidence Survey (77 to 83 versus 80.9 October).
16:30 DE ECB’s Weber chairs panel at Bundesbank conference.
N/A EU27 the European Commission publishes its economic forecasts.
The Psychology:
All Souls Day holiday in some countries and Hindu Diwali festival starts today. US Veterans’ Day holiday Monday.
The Risk:
Eurozone Finance Ministers’ meeting on Monday, Brussels.
Today’s most interesting chart: Nasdaq future
Big drop as we break trendline support.
