Quote:
‘I like to look at nude birds and I think most normal men do.’ Paul Raymond (1925-2008)
The News:
Geithner says ‘we have a lot of work still in repairing the system’ but stress tests aids transparency.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP Bank of Japan Minutes of April 6/7th meeting; warns corporate financing ‘severe’ for small and mid-sized firms.
02:30 AU Reserve Bank of Australia Monetary Policy Statement. 06:45 CH April Jobless 3.4% versus 3.3% March.
09:30 GB April Input PPI (0% to +1.6% M/M, -4.1% to –2.6% Y/Y, versus +1.0% and –0.4% March).
09:30 GB April Output PPI (0% to +0.6% M/M, +0.5% to +1.2% Y/Y, versus +0.1% and +2.0% March).
11:00 DE March Industrial Production (-3.1% to +2.2% M/M, -24.3% to –18% Y/Y, vs –2.9% and –20.6% February).
12:00 CA April Net Employment (-65K to –20K, Unemployment 8.1% to 8.4%, versus –61.3K and 8.0% March).
13:15 CA April Housing Starts (130K to 155K versus 146.5K March).
13:30 US April Non-Farm Payrolls (-750K to –500K, Unemployment 8.7% to +9.0%, versus –663K and 8.5% March).
13:30 US April Hourly Earnings (+0.1% to +0.2% M/M, Workweek 33.0 to 33.2 hours, vs +0.2% and 33.2 March).
15:00 US March Wholesale Inventories (-1.8% to 0% versus –1.5% February).
18:00 US Fed’s Lacker speaks on the outlook for the economy, Washington.
The Psychology:
The Berlin Wall came down twenty years ago. Central bankers meet in Basel Sunday/Monday.
The Risk:
China’s vice premier in FT article says financial crisis spreading and economy will get worse.
Today’s most interesting chart: FTSE 100 Index
‘Shooting star’ candle yesterday at 200-day moving average and just under November and January’s highs.
