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Start the Day

The panic's hasty retreat should not be confused with robust recovery

Wed, Jun 17 2009, 06:43 GMT
by Nicole Elliott

Mizuho Corporate Bank  |  View company's profile


Vote:

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Quote:

‘I think insecurity makes me want to succeed. I have to find things to do.’ Richard Caring (1949-)


The News:

Fed’s Warsh says, ‘the panic’s hasty retreat should not be confused with robust recovery’.


The Numbers:

British Summer Time, with expectations and previous figures in brackets.

06:00 JP June Bank of Japan Monthly Report. 04:45 auction result of 20-year JGB: bid-to-cover 3.6; stop 2.2128%.

08:15 CH April Retail Sales (versus +1.2% March). Government also publishes updates on growth/inflation forecasts.

09:30 GB Bank of England MPC Minutes of June 3/4th meeting.

09:30 GB May Jobless Claims (+47K to +85K, Claimant Count Unemployed 4.8% to 5.0%, vs +57.1K and 4.7% April).

09:30 GB April ILO Unemployment (7.2% to 7.5% versus 7.1% March).

09:30 GB April Average Earnings (-0.6% to +0.7% 3MY/Y, Ex-bonus +2.7% to +2.9%, vs –0.4% and +3.0% March).

10:00 CH June ZEW Survey (versus –3.9 May).

10:00 EZ16 April Trade Balance (-€3.3B to +€0.5B S/A versus -€2.1B March).

13:00 NO Norges bank interest rate decision (-25 bp or unchanged at 1.50%). 13:45 News Conference.

13:30 US May CPI (+0.1% to +0.5% M/M, -1.2% to –0.5% Y/Y, versus 0% and –0.7% April).

13:30 US May CPI Ex-food & Energy (-0.2% to +0.2% M/M, +1.7% to +1.9% Y/Y, versus +0.3% and +1.9% April).

13:30 US Q1 Current Account (-$112B to -$74B versus -$132.8B Q4).

13:30 CA May Leading Indicators (-1.0% to –0.3% versus –1.1% April).

13:30 CA April Wholesale Sales (-1.4% to +0.3% M/M versus –0.6% March).

14:00 US Fed’s Bernanke speaks on financial literacy, Washington. 21:30 GB Bank of England’s King speaks.


The Psychology: Today

President Obama and Chancellor Darling to unveil changes in financial oversight.


The Risk:

US White House refuses to help the state of California with its budget deficit.


Today’s most interesting chart: Dow Jones Industrial Average

Closing below immediate trendline support and below the 50-day moving average, like several other indices.

Start The Day



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