Quote:
‘I don’t think you should ignore a big number, no matter what it is.’ Bill Demchak (1963-)
The News:
Bomb blast in a Shi’ite mosque in Iran kills 30, wounds 60, blamed on a terrorist group.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB May GfK Consumer Confidence –27 versus –27 April.
00:30 JP May Tokyo CPI –0.8% Y/Y, April Nationwide –0.1%, versus revised –0.1% and –0.3%.
00:30 JP April Jobless 5.0%, Job-to-Applicant 0.46, versus 4.8% and 0.52 March.
00:30 JP April Household Spending –1.3% Y/Y versus –0.4% March.
00:50 JP April Industrial Production +5.2% M/M, -31.2% Y/Y, versus +1.6% and March.
05:00 JP April Vehicle Production –47.1% Y/Y versus –50.0% March.
06:00 JP April Housing Starts versus 0.779M March. April Construction Orders vs –37.8%.
07:00 DE April Retail Sales +0.5% M/M, -0.8% Y/Y, versus revised –0.4% and –0.8% March.
07:00 GB May Nationwide House Prices +1.2% M/M, -11.3% Y/Y, versus revised –0.3% and –15.0% April.
09:00 EZ16 April M3 Money Supply (+3.8% to +4.8% Y/Y versus +5.1% March).
10:00 EZ16 May CPI (+0.1% to +0.4% Y/Y versus +0.6% April).
10:30 CH May KOF Indicator (-2.0 to –1.58 versus –1.86 April).
13:30 US revised Q1 GDP (-6.3% to –5.0% Q/Q, Core PCE +1.5%, versus –6.1% and +1.5%).
13:30 CA Q1 Current Account (-C$11.5B to –C$7.2B versus –C$7.5B Q4).
14:45 US May Chicago Purchasing Managers (34.2 to 45.0 versus 40.1 April).
15:00 US May final University of Michigan Confidence Survey (67 to 71 versus 67.9).
The Psychology:
Dragon Boat holidays again in China and Taiwan. Whit Monday holidays June 1st in Europe.
The Risk:
US Treasury secretary Geithner is in Beijing Saturday to Tuesday.
Today’s most interesting chart: Nymex Crude Oil
Pulling Gasoline futures with it.
