Quote:
‘This was clearly the taxpayer-funded gap year I had to get out of my system, except instead of building schools we’re blowing up people.’ Captain Patrick Hennessey (1982-)
The News:
US authorities considering giving a temporary loan to CIT Group Inc as FDIC questions its asset base.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
05:00 JP Bank of Japan keeps rates unchanged at 0.10%, extends corporate funding support steps.
07:00 EU27 June New Car Registrations +2.4% versus –4.4% May.
08:15 CH May Retail Sales (versus +1.2% April).
09:30 GB June Jobless Claims (+30K to +75K, Unemployed +4.8% to 5.0%, versus +39.3K and 4.8% May).
09:30 GB May Average Earnings (+0.4% to +2.6% 3M/Y/Y, Ex-bonus +2.0% to +2.8%, vs +0.8% and +2.7% April).
09:30 GB May ILO Unemployment (7.3% to 7.5% versus 7.2% April).
10:00 EZ16 June CPI (+0.1% to +0.4% M/M, -0.1% to –0.3% Y/Y, versus +0.1% and –0.1% May).
13:30 US June CPI (0.2% to +1.0% M/M, -1.8% to –1.0% Y/Y, versus +0.1% and –1.3% May).
13:30 US June CPI Ex-Food&Energy (0% to +0.2% M/M, +1.5% to +1.9% Y/Y, versus +0.1% and +1.8% May).
13:30 US July Empire State Manufacturing Survey (-10 to 0 versus –9.41 June).
13:30 CA May Manufacturing Shipments (-5.0% to +1.5% versus –0.1% April).
14:15 US June Industrial Production (-1.1% to +0.2%, Capacity Utilisation 67.3% to 68.3%, vs –1.1% and 68.3%).
19:00 US Fed’s Minutes of FOMC meeting June 24th.
00:50 JP May Tertiary Industry Index (Mizuho Securities –0.1% versus +2.2% April).
The Psychology:
Volatile investor sentiment.
The Risk:
FX looking for direction.
Today’s most interesting chart: Australian dollar
Rallying neatly from the bottom of the ‘flag’.
