Quote:
‘Good morning, daddy!
Ain’t you heard
The boogie-woogie rumble
Of a dream deferred?’ Langston Hughes (1902-1967)
The News:
US Treasury’s Geithner plans setting up a new agency to protect consumers of financial products.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:00 US Fed’s Plosser is worried about the Fed’s independence and inflation, New York.
00:30 US Fed’s Rosengren says he’s more worried about deflation than inflation, Massachusetts.
00:00 JP Bank of Japan keeps interest rates at 0.10%.
06:00 JP April Supermarket Sales –3.7% Y/Y versus –4.0% March.
09:30 GB revised Q1 GDP (-2.0% to -1.8% Q/Q, -4.2% to –4.0% Y/Y, versus –1.9% and –4.1%).
13:30 CA March Retail Sales (-0.6% to +1.0% M/M, Ex-autos –0.7% to +0.5%, versus +0.2% and +0.6% February).
19:00 US Fed’s Bernanke speaks at the graduation ceremony of the Boston College Law School.
The Psychology:
Monday 25th May UK Bank Holiday, US Memorial Day and several others off too.
The Risk:
Informal G30 meeting organised by the Bank of Italy today until the 23rd, Rome.
Today’s most interesting chart: Spot Gold
New recent highs on generalised US dollar weakness.
