Quote:
‘Investing without looking at the numbers is like playing bridge without looking at the cards.’ Peter Lynch (1944-)
The News:
Citigroup has asked the US Treasury for special dispensation to pay staff bonuses.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
09:00 EZ16 March M3 Money Supply (+5.5% to +6.0% Y/Y versus +5.9% February).
09:00 EZ16 March Private Loans (+3.2% to +4.0% Y/Y versus +4.2% February).
10:00 EZ16 April Business Climate Indicator (-3.7 to –3.1, Consumer –35 to –31, versus –3.58 and –34 March).
10:00 EZ16 April Industry Confidence (-38 to –30, Services –26 to –23, versus –38 and –25 March).
10:00 EZ16 April Economic Confidence (63.1 to 67.0 versus 64.6 March).
10:30 CH April KOF Indicator (-2.1 to –1.63 versus –1.79 March).
13:30 US Q1 GDP (-8.0% to –2.8% Q/Q, Price Index –0.4% to +3.3%, versus –6.3% and +0.5% Q4 2008).
13:30 US Q1 Core PCE (+0.7% and +1.7% Q/Q versus +0.9% Q4 2008).
19:15 US FOMC interest rate decision (half calling for –12 basis points to 0.13%).
00:01 GB April GfK Consumer Confidence (-32 to –27 versus –30 March).
00:50 JP March Industrial Production (Mizuho Securities +0.3% M/M, -35.0% Y/Y, versus –9.4% and –38.4% Feb).
The Psychology:
Holidays in Israel and Japan today.
The Risk:
Fewer people travel because of ‘flu worries.
Today’s most interesting chart: Euro/Polish zloty
Euro rallying from retracement support.
