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Emergency French cabinet meeting today to discuss gloomy economic prospects
Mon, Aug 18 2008, 06:57 GMT
by Nicole Elliott
Quote:
‘It’s sad, so sad
It’s a sad, sad situation
And it’s getting more and more absurd
It’s sad, so sad
Why can’t we talk it over
Oh it seems to me
That sorry seems to be the hardest word.’ Elton John (1947-)
The News:
Emergency French cabinet meeting today to discuss gloomy economic prospects.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB August Rightmove House Prices –2.3% M/M, -4.8% Y/Y, versus –1.8% and –2.0% July, fastest since this series began.
00:00 GB British Chamber of Commerce calls for an interest rate cut as Britain faces a recession within the next twelve months.
06:30 JP July Tokyo Department Store Sales –0.9% Y/Y, Nationwide –2.5%, versus –7.4% and –7.6% June.
10:00 EZ15 June Trade Balance (-€4.4B to +€9.1B versus -€4.6B May).
13:30 CA June International Securities Transactions (C$5000 to C$7000 versus C$10717 May).
18:00 US August NAHB Housing Market Index (15 to 17 versus 16 July).
The Psychology:
The Bank of Japan starts a two-day rate-setting meeting; expected unchanged at 0.50%.
The Risk:
Fixed income markets lead the way to lower yields.
Today’s most interesting chart: New Zealand dollar
A ‘hammer’ reversal formation against retracement support and close to the base formed in August last year.
Published on Mon, Aug 18 2008, 07:01 GMT
Archive
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Published On Wed, Nov 26 2008, 07:35 GMT
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