Quote:
‘You will eat, bye and bye,
In that glorious land above the sky;
Work and pray, live on hay,
You’ll get pie in the sky when you die.’ Joe Hill (1879-1915)
The News:
China April CPI –1.5% Y/Y.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
13:30 CA March New Housing Price Index (-0.5% to –0.4% M/M versus –0.7% February).
00:01 GB April BRC Retail Sales Monitor (versus –1.2% March).
00:30 US Fed’s Bernanke talks about the bank ‘stress tests’, Georgia. .
The Psychology:
Many more ‘flu cases diagnosed over the weekend.
The Risk:
US dollar weakness gathers pace.
Today’s most interesting chart: New Zealand dollar
Best performing currency last week; ending the week with one of the strongest closes since October.
