Quote:
‘There – but for the clutch of luck – go I’. Paul Durcan (1944-)
The News:
Japan’s FSA says it will inject 121B yen into 3 regional banks.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
05:00 JP February Consumer Confidence 27.6, Households 26.7, versus 27.0 and 26.4 January.
07:00 DE February Wholesale Price Index –0.1% M/M, -5.7% Y/Y, versus –0.4% and –5.9% January.
07:00 EU27 February New Car Registrations –18.01% versus –26.9% Y/Y January.
08:15 CH February PPI (versus –0.8% M/M and –0.9% Y/Y January).
10:00 EZ16 January Retail Sales (-0.5% to +0.7% M/M, -2.7% to -1.5% Y/Y, versus 0% and -1.6% December).
10:00 EZ15 Q4 Labour Costs (+2.9% to +4.0% Y/Y versus +4.0% Q3).
11:00 CA February Employment Change (-100K to –15K, Unemployment 7.1% to 7.7%, vs –129K and 7.2% January).
12:30 CA January Trade Balance (-C$1.5B to +C$1.0B versus –C$0.5B December).
12:30 US January Trade Balance (-$44B to -$31B versus –$39.9B December).
12:30 US February Import Price Index (-1.0% to +0.4% M/M, -13.9% to –12.9% Y/Y, versus –1.1% and –12.5% Jan).
14:00 US March University of Michigan Confidence Survey (45 to 57 versus 56.3 February).
14:30 US White House’s Lawrence Summers speaks on the economic outlook, Brookings Institution, Washington.
The Psychology:
Friday the 13th, unlucky for some.
The Risk:
G20 finance ministers meet today and tomorrow in West Sussex, UK.
Today’s most interesting chart: EUR/CHF
Biggest ever daily rally as SNB spends a lot to weaken CHF.
