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Start the Day

General Motors to axe 10,000 European jobs

Thu, Nov 5 2009, 07:19 GMT
by Nicole Elliott

Mizuho Corporate Bank  |  View company's profile


Vote:

6

0

Quote:

‘Pioneering don’t pay’. Andrew Carnegie (1835-1919)


The News:

General Motors to axe 10,000 European jobs as FOMC to keep ultra-low rates for extended period.


The Numbers:

Greenwich Mean Time, with expectations and previous figures in brackets.

(23:50) JP Bank of Japan Minutes of board meeting of 13/14th October: smaller firms’ funding is severe.

03:45 JP auction result of ten-year JGB: yield 1.435, tail 0.14.

06:45 CH Q4 Consumer Confidence –30 versus –42.0 Q3.

08:15 CH October CPI (+0.1% to +1.0% M/M, -1.3% to –0.4% Y/Y, versus 0% and –0.9% September).

09:30 GB September Industrial Production (+0.3% to +2.7% M/M, -11.0% to –9.4% Y/Y, vs –2.5% and –11.2% Aug).

09:30 GB September Manufacturing Production (+0.4% to +2.1% M/M, -10.3% to –8.7% Y/Y, vs –1.9%/–11.3% Aug).

10:00 EZ16 September Retail Sales (-0.3% to +1.2% M/M, -3.0% to –1.8% Y/Y vs -0.2% and –2.6% August).

12:00 GB Bank of England decision (Base Rate unchanged at 0.50%; QE might be increased from £175B up to £225B).

12:45 EZ16 ECB interest rate decision (expected unchanged at 1.00%); 13:30 news conference.

13:30 US Q3 Unit Labour Costs (-6.3% to –1.9%, Non-Farm Productivity +3.8% to +8.5%, vs –5.9% and +6.6% Q2).

13:30 US Weekly Jobless Claims (510K to 535K, Continuing Claims 5730K to 5860K, vs 530K and 5797K prior week).

13:30 CA September Building Permits (-1.2% to +6.0% M/M versus +7.2% August).

15:00 CA October Ivey Purchasing Managers (56.0 to 63.5 versus 61.7 September).

19:15 US Fed’s FOMC interest rate decision (unanimously expected unchanged at 0.25%).

23:00 G20 finance ministers meet in St. Andrews, Scotland.


The Psychology:

T.


The Risk:

T.


Today’s most interesting chart: Eurodollar future

New contract highs in front months.

Start The Day



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Vote:

6

0

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