Quote:
‘You can’t be that rock ’n’ roll when you still live at home with your mum and dad in Harrow.’ Kate Nash (1987-)
The News:
Reserve Bank of India cuts rates by 25 basis points.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:30 US Fed’s Kohn says conditions right for GDP to stabilise later this year.
07:00 DE March PPI –0.7% M/M, -0.5% Y/Y, versus –0.5% and +0.9% February.
09:30 GB March CPI (-0.2% to +0.3% M/M, +2.5% to +3.0% Y/Y, versus +0.9% and +3.2% February).
09:30 GB Bank of England releases Trends in Lending Report.
09:45 GB Bank of England’s director for markets testifies at Treasury Select Committee, Westminster.
10:00 DE April ZEW Survey (Sentiment -5 to +17, Situation –95 to –80, Economy –1 to +1.7, versus –3.5, -89.4 and –6.5 March).
10:30 GB Bank of England’s Sentence speaks at Agricultural Engineers Association, London.
13:30 CA February Wholesale Sales (-2.5% to +3.5% M/M versus –4.2% January).
14:00 CA Bank of Canada interest rate decision (-25 or –50 basis point cut from a current 0.50%).
15:00 US Fed’s Hoenig testifies on ‘too big to fail’ at Joint Economic Committee, Washington.
00:50 JP March Trade Balance (Mizuho Securities –Y110B versus +82B Feb).
The Psychology:
German bankers meeting Angela Merkel to discuss sorting the industry’s ‘toxic’ assets.
The Risk:
Stock indices slip again.
Today’s most interesting chart: S&P future
‘Bearish engulfing’ candle yesterday at a cl uster of resistance levels.
