Quote:
‘The night has a thousand eyes,
And the day but one;
Yet the light of the bright world dies,
With the dying sun.
The mind has a thousand eyes,
And the heart but one;
Yet the light of a whole life dies,
When love is done.’ Francis William Bourdillon (1852-1921)
The News:
Democrat-controlled US Senate couldn’t pass $410B bill to fund government operations; will try again next week.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
08:15 CH February CPI (-0.2% to +0.2% M/M, -0.4% to +0.2% Y/Y, versus –0.8% and +0.1% January).
09:30 GB February PPI Input (-0.8% to +1.8% M/M, -0.2% to +2.4% Y/Y, versus +1.5% and +2.3% January).
09:30 GB February PPI Output (-0.2% to +1.2% M/M, +1.9% to +4.2% Y/Y, versus +0.1% and +3.5% January).
09:30 GB Q4 BoE Housing Equity Withdrawl (-£9.5B to -£5.5B versus -£5.7B Q3).
13:30 US February Non-Farm Payrolls (-800K to -500K, Unemployment 7.8% to 8.1%, vs -598K and 7.6% January).
13:30 US February Hourly Earnings (+0.1% to +0.3% M/M, Workweek 33.1 to 33.3 hours, vs +0.3% and 33.3 Jan).
15:00 US Fed’s Plosser speaks on the financial system, New York; Dudley at 16:15.
20:00 US January Consumer Credit (-$8.1B to +$3.2B versus -$6.6B December).
The Psychology:
Lots on holiday next week for Muhammad’s birthday which starts with lunar sighting on Sunday.
The Risk:
Stock indices end the week on a low note, fuelling more selling next week.
Today’s most interesting chart: EUR/CHF
Below key support, moving towards October’s record low.
