Quote:
‘Don’t wait to be rescued by a knight in shining Armani.’ Kathy Lette (1959-)
The News:
China Q3 GDP +9.0%, slowest in 5 years, as export orders slump.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB October Rightmove House Prices +1.0% M/M, -4.9% Y/Y, versus –1.0% and –3.3% September.
01:30 JP Bank of Japan Quarterly branch managers’ meeting, Tokyo.
07:00 DE September PPI +0.3% M/M, +8.3% Y/Y, versus –0.6% M/M and +8.1% Y/Y August.
08:00 JP September Convenience Store Sales (versus +5.3% Y/Y August).
09:30 GB September Public Finances and M4 Money Supply (versus £5.1B and +11.5% Y/Y August).
13:300 CA August International Securities Transactions (versus C$5.59B July).
13:30 CA August Wholesale Sales (versus +2.3% July).
15:00 US September Leading Indicators (-0.5% to 0% versus –0.5% July).
17:45 US Fed’s Lockhart speaks on the economic outlook, Atlanta.
The Psychology:
Government bail outs left, right and centre.
The Risk:
Stock markets and Yen crosses are merely in holding patterns, not basing.
Today’s most interesting chart: EUR/NOK
Scandinavian currencies hit hard again last week.
