Quote:
‘The only reason I would take up jogging is so that I could hear heavy breathing again.’ Erma Brombeck (1927-1996)
The News:
Toyota to close Japanese plants for 11 days in February and March to reduce stocks of unsold cars.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(22:00) US December Total Vehicle Sales 10.28M versus 10.13M November; Chrysler –53%.
(23:50) JP December Monetary Base +1.8% Y/Y versus +1.9% November.
00:01 GB December Nationwide Consumer Confidence 47 versus revised 51 November.
07:00 GB December Nationwide House Prices –2.5% M/M, -15.9% Y/Y, versus –0.4% and –13.9% November.
09:30 GB December Services PMI (37.5 to 40.5 versus 40.1 November).
10:00 EZ15 December CPI (+1.6% to +1.9% Y/Y versus +2.1% November).
13:30 CA November Industrial Product Price (-2.3% to –0.5% M/M versus 0% October).
13:30 CA November Raw Materials Prices (-10.0% to –8.0% M/M versus –12.5% October).
15:00 US December Non-Manufacturing ISM (34.5 to 42.0 versus 37.3 November).
15:00 US November Factory Orders (-3.5% to –0.4% versus –5.1% October).
15:00 US November Pending Home Sales (-5.0% to +1.5% M/M versus –0.7% October).
19:00 US Fed Minutes of December 16th FOMC meeting.
00:01 GB December Nationwide Consumer Confidence (versus 50 November).
The Psychology:
Epiphany holiday in several countries; Orthodox Christmas in others tomorrow.
The Risk:
Markets tentatively looking for direction.
Today’s most interesting chart: Australian dollar
Inching higher, strongest close since October 3rd.
