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Fed's Fischer and Lacker warn action will be taken if slowing economic growth does not tame inflation
Wed, Aug 20 2008, 06:29 GMT
by Nicole Elliott
Quote:
‘I never wanted or owned a house. I could never afford it and that didn’t bother me. There was a luxury in not thinking about money.’ Diana Athill (1918-)
The News:
Fed’s Fischer and Lacker warn action will be taken if slowing economic growth does not tame inflation.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP June All Industry Activity Index –0.9% M/M versus +0.4% May.
06:00 JP Bank of Japan Monthly Report; cuts view on exports.
08:00 JP July Convenience Store Sales (versus +4.2% Y/Y June).
09:30 GB Bank of England Minutes of MPC meeting of August 6/7th.
09:30 GB July Public Finances (-£12B to -£5B, Net Borrowing -£9B to £0, versus -£15.5B and +£9.2B June).
09:30 GB July M4 Money Supply (+10.0% to +11.7% Y/Y, Lending £0 to £25B, versus +11.4% and £46.1B June).
11:00 GB August CBI Industrial Trends (-24 to –5 versus –8 July).
13:30 CA July Leading Indicators (-0.1% to +0.1% M/M versus 0% June).
13:30 CA June Retail Sales (+0.2% to +0.7% M/M, Ex-autos +0.3% to +1.0%, versus +0.4% and +0.4% May).
The Psychology:
Investors not thinking clearly, rushing between equally unappealing strategies.
The Risk:
Stock indices try to cling to pivotal support.
Today’s most interesting chart: Spot Gold
Bouncing from retracement support after and A, B, C-type correction where C equals A. Energy group and FX doing something similar.
Published on Wed, Aug 20 2008, 06:32 GMT
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