Quote:
‘I did want to give my money away – I just didn’t expect it to be in quite this way.’ Sir Tom Hunter (1961-)
The News:
Slovakia, which joined the Eurozone 1/1/2009, declares state of emergency for lack of Russian gas.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
07:00 DE November ILO Unemployment 7.1% versus 7.1% October.
08:55 DE December Unemployment (7.5% to 7.6% versus 7.5% November).
10:00 EZ15 November PPI (-1.8% to –0.1% M/M, +3.3% to +5.3% Y/Y versus –0.8% and +6.3% October).
10:30 GB December BRC Shop Price Index.
12:30 US December Challenger Job Cuts (versus 148.4% November).
14:15 US December ADP Employment Change (-550K to –250K versus –472K November).
17:00 US Treasury’s Paulson speaks on GSE’s and the housing recovery, Washington.
18:00 US Fed’s Hoenig speaks on the economic outlook, Kansas City.
The Psychology:
The Bank of England’s MPC starts a two-day rate-setting meeting; most expect a cut of either 50 or 100 basis points from the current 2.00% though NAB says no change.
The Risk:
Treasury auctions in Germany, UK and US.
Today’s most interesting chart: CBOT Wheat
Inching higher, strongest close since October 1st.
