Quote:
‘I get so confused when making toast.’ Claudia Winkleman (1972-)
The News:
Pakistan poses a ‘mortal threat’ to the world, says Hillary Clinton, ‘government abdicating to Taliban’.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
07:15 CH March Trade Balance (versus +CH731M February).
08:30 DE April Manufacturing PMI (32 to 36, Services 42 to 46, versus 32.4 and 42.3 March).
09:00 EZ16 April Manufacturing PMI (33 to 37, Services 38.6 to 46.9, Composite 38.5 to 41.3, vs 33.9/40.9/38.3 Mar).
09:00 EZ16 February Current Account (-€11B to -€3B versus -€12.7B January).
10:00 EZ16 February Industrial New Orders (-4.0% to –0.8% M/M, -36.2% to –28.6% Y/Y, vs –3.4%/–34.1% Jan).
10:00 CH April ZEW Survey (versus –57.1 March). 11:00 GB Q2 CBI Industrial Trends (-60 to –42 versus –58 Q1).
13:30 US Weekly Jobless Claims (595K to 700K, Continuing Claims 6050K to 6180K, vs 610K and 6022K prior week).
13:30 CA February Retail Sales (-0.8% to +0.6% M/M, Ex-autos –0.4% to +1.0%, versus +1.9% and +1.3% January).
15:00 US March Existing Home Sales (4.37M to 4.90M versus 4.72M February).
15:30 CA Bank of Canada Monetary Policy Report.
16:45 US Fed’s Stern speaks on new policies for financial stability.
18:00 US auction result of Treasury 5-year TIPS.
05:00 US Treasury’s Geithner hosts a G7 finance ministers and central bankers’ meeting, Washington.
The Psychology:
St George’s day today.
The Risk:
Sharp intra-day moves as markets look for direction.
Today’s most interesting chart: EUR/GBP
Breaking immediate trendline resistanc e, within recent range.
