technical analysis will be away until wednesday 24th september
Quote:
‘Drink to me only with thine eyes,
And I will pledge with mine;
Or leave a kiss but in the cup,
And I’ll not look for wine.’ Ben Jonson (1572-1637)
The News:
AIG, Alitalia, Lehman Brothers and Merrill Lynch teetering on the brink of bankruptcy.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
08:15 CH August PPI (versus +0.5% M/M and +4.9% Y/Y July).
08:15 CH July Retail Sales (+2.2% to +5.0% versus +0.7% June).
09:00 EU25 Foreign Ministers’ meeting, Brussels.
10:00 EZ15 Q2 Labour Costs (+2.9% to +3.6% Y/Y, versus +3.3% Q1).
10:00 EZ15 ECB’s Trichet speaks on accepting an honour from the city, Frankfurt.
13:30 US September Empire State Manufacturing Survey (-2.8 to +7.0 versus +2.8 August).
13:30 CA July New Vehicle Sales (-0.5% to +0.5% M/M versus –1.0% June).
14:15 US August Industrial Production (-0.8% to +0.2%, Capacity Utilisation 79.2% to 79.8%, vs +0.2% and 79.9%).
The Psychology:
Holidays in China, Hong Kong and Japan today.
The Risk:
Technical Analysis will be away until Wednesday 24th September.
Today’s most interesting chart: Benchmark US 2-year TNote yield
Flight to quality.
