Quote:
‘Make three correct guesses consecutively and you will establish a reputation.’
Laurence J. Peter (1919-1990)
The News:
Thai central bank intervenes to limit baht strength (34.42, strongest since December).
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP March Trade Balance Y132B, Current Account Y1485B, versus 202B and 1116B February.
05:00 JP April Bankruptcies +9.4% Y/Y versus +14.1% March.
06:00 JP April Economy Watchers’ Survey Current 34.2, Outlook 39.7, versus 28.4 and 35.8 March.
09:30 GB April Jobless Claims +57.1K, Claimant Count Unemployment 4.7%, vs rev +65.5K and 4.5% Mar (leaked).
09:30 GB March ILO Unemployment 7.1% versus 6.7% February (leaked yesterday).
09:30 GB March Average Earnings -0.4% Y/Y, Ex-Bonus +3.0%, vs +0.2% and +3.2% February (leaked yesterday).
10:00 EZ16 March Industrial Production (-3.0% to –0.5% M/M, -21.1% to –15.8% Y/Y, vs –2.3% and –18.4% Feb).
10:30 GB Bank of England Quarterly Inflation Report.
13:30 US April Retail Sales (-0.8% to +1.1%, Ex-Autos –0.6% to +1.2%, versus –1.2% and –1.0% March).
13:30 US April Import Price Index (-0.1% to +1.5% M/M, -16.9% to –16.3% Y/Y, versus +0.5% and –14.9% March).
13:30 CA March New Vehicle Sales (+6.0% M/M versus –2.2% February).
15:00 US March Business Inventories (-1.8% to +0.5% versus –1.3% February).
15:30 US Fed’s Plosser speaks on a panel at Atlanta Fed Conference, Georgia; Lockhart at 17:00.
The Psychology:
Final day of India’s general elections.
The Risk:
Companies starting the get the message that they really must raise capital while they can.
Today’s most interesting chart: Nymex Light Crude
Highest price since December.
