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Indonesian rupiah under extreme pressure
Mon, Oct 27 2008, 09:05 GMT
by Nicole Elliott
Quote:
‘(The 1920’s was living with the) insouciance of Grand Dukes and the morality of call girls.’ F. Scott Fitzgerald (1896-1940)
The News:
G7 warns on Yen moves; Japan said to expand bank bail-out scheme; Nikkei 225 at 26-year low and PM Aso considering measures to stabilise shares. South Korea slashes a record 75 basis points to 4.25%. Reserve Bank of Australia intervenes to prop up the currency. Indonesian rupiah under extreme pressure.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
From today GB September Nationwide House Prices (-2.0% to –0.8% M/M, -15.2% to –14.0% Y/Y, vs –1.7%/-12.4%).
09:00 DE October IFO (Business 86.9 to 82.3, Current 95 to 99, Expectations 83 to 86, vs 92.9/99.8/86.5 September).
09:00 EZ15 September M3 Money Supply (+8.2% to +9.0% Y/Y versus +8.8% August).
13:55 EZ15 ECB’s Trichet delivers a speech, Madrid.
14:00 US September New Home Sales (402K to 501K versus 460K August).
17:00 US Treasury auction result of ten-year TNote.
23:50 JP September Large Retailers’ Sales (-4.0% to –1.5% Y/Y versus –2.2% August).
23:50 JP September Retail Trade (-0.8% to +0.2% M/M, -0.8% to +1.0% Y/Y, versus +0.7% and +0.7% August).
The Psychology:
Deepavali holidays In Malaysia, Sri Lanka and Singapore.
The Risk:
The authorities look like headless chickens as stock markets slide a lot more.
Today’s most interesting chart: Hang Seng Index
Lowest since June 2004.
Published on Mon, Oct 27 2008, 09:09 GMT
Archive
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Published On Mon, Nov 2 2009, 07:47 GMT
Mizuho Corporate Bank
| 1-3-3, Marunouchi, Chiyoda-ku, Tokyo 100-8210
http://www.mizuho-cb.co.uk | Nicole.Elliot@mhcb.co.uk
Legal disclaimer and risk disclosure
The information contained in this page is based on or derived from information generally available to the public from sources believed to be reliable. No representation or warranty is made or implied that it is accurate or complete. Any opinions expressed in this paper are subject to change without notice. This page has been prepared solely for information purposes and if so decided, for private circulation and does not constitute any solicitation to buy or sell any instrument, or to engage in any trading strategy.Related reports
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