Quote:
‘For many, Britain fights, Germany pays, France calculates, Italy avoids.’ Eric Joyce (1960-)
The News:
MoF says Japan’s foreign reserves increased by $19.63B in August to a record $1.042 trillion.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
09:30 EZ16 September Sentix Investor Confidence (-15 to –12 versus –17 August).
11:00 DE July Factory Orders (+0.5% to +5.0% M/M, -21.7% to –18.2% Y/Y, versus +4.5% and –25.3% June).
22:00 JP Q4 Manpower Survey (versus –6.0% Q3).
23:00 DE Q4 Manpower Employment Outlook.
00:01 GB August BRC Retail Sales Monitor (versus 1.8 July).
00:01 GB August RICS House Price Balance (-6.0% to +2.1% versus –8.1% July).
00:50 JP July Trade Balance (Mizuho Securities 470B Yen, Current Account 2060B, versus 602B and 1152B June).
00:50 JP August M2 Money Supply (Mizuho Securities +2.7%, Bank Lending +1.8% to +2.5%, vs +2.7% and +2.1%).
The Psychology:
US and Canadian Labour Day holidays today.
The Risk:
Thin dreary markets.
Today’s most interesting chart: Australian dollar
Highest weekly close since August 2008 as jobs ads rise for the first time in 16 months.
