Quote:
‘Thank Heaven! The crisis –
The danger, is past,
And the lingering illness
Is over at last –
And the fever called ‘Living’
Is conquered at last.’ Edgar Allan Poe (1809-1845)
The News:
US beefs up military security in Hawaii because of North Korean missile threat.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP Bank of Japan May 21/22nd MPC Minutes.
06:30 JP May Tokyo Department Store Sales –14.0% Y/Y, Nationwide –12.3%, versus –11.9% and –11.3% April.
07:00 DE May PPI 0% M/M, -3.6% Y/Y, versus –1.4% and –2.7% April.
13:30 CA April Retail Sales (-0.6% to +1.0% M/M, Ex-autos –0.7% to +1.0%, versus +0.3% and –0.2% March).
Psychology:
Midsummer’s Eve holidays in Finland and Sweden today.
The Risk:
Markets fizzle out on a Friday.
Today’s most interesting chart: EUR/CHF
Thrashing around as is kept in a straight-jacket for months.
