Quote:
‘Wherever there are rich men trying not to feel old there will be young girls trying not to feel poor’. Julie Burchill (1959-)
The News:
Russian rouble at weakest ever despite rate hike today.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
05:00 JP January Vehicle Sales –27.9% Y/Y versus –22.3% December. From today DE February Retail Sales (-2.0% to +2.0% M/M, -3.5% to +2.6% Y/Y, versus +0.7% and –3.0% January).
08:30 CH January PMI (versus 36.9 December).
08:55 DE January final Manufacturing PMI (32 versus 32 January).
09:30 GB January Manufacturing PMI (33.5 to 35.5 versus 34.9 December).
13:30 US Personal Income (-0.7% to +0.4% M/M, Spending –1.5% to –0.4%, versus –0.2% and –0.6% November).
13:30 US December Core PCE (-0.1% to +0.1% M/M, +1.6% to +1.8% Y/Y, Deflator +0.5% to +1.6% Y/Y, versus 0%, +1.9% and +1.4% November).
15:00 US January Manufacturing ISM (30.8 to 35.5, Prices Paid 10 to 22, versus 32.9 and 18 December).
15:00 US December Construction Spending (-2.0% to –0.2% versus –0.6% November).
The Psychology:
Luxury London house prices tumble as Russians flee ‘Mayfairsky’.
The Risk:
Stock markets slip through key support this week.
Today’s most interesting chart: Dow Jones Industrial Average
Closing exactly on pivotal 8000 level.
