Quote:
‘Try everything once, except incest and folk dancing.’ Sir Thomas Beecham (1960-)
The News:
Taiwan replaces Premier with W Den-yih because of fiasco handling last week’s typhoon.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
(22:00) JP Q4 Manpower Survey –6% versus –6% Q3.
00:01 GB August BRC Retail Sales –0.1% Y/Y vs +1.8%. August RICS House Price Balance +2.1% vs –8.1% July.
00:50 JP July Trade Balance 437B Yen, Current Account 1265B, versus 602B and 1152B June.
00:50 JP August M2 Money Supply +2.8%, Bank Lending +1.8% (lowest in a year), versus +2.7% and +2.1% July.
05:30 JP August Bankruptcies –1.0% Y/Y versus +1.0% July.
06:00 JP August Economy Watchers’ Survey Current 41.7, Outlook 44.0, versus 42.4 and 44.9 July.
06:45 CH August Jobless 4.0% versus 3.9% July.
07:00 DE July Trade Balance +€13.9B, Current Account +€11.0B, versus +€12.2B and +€13.3B June.
09:30 GB July Industrial Production (-0.1% to +0.6% M/M, -10.4% to –8.9% Y/Y, versus +0.5% and –11.1% June).
09:30 GB July Manufacturing Production (0% to +0.7% M/M, -11.4% to –10.0% Y/Y, vs +0.4% and –11.7% June).
11:00 DE July Industrial Production (+0.5% to +3.3% M/M, -17.8% to –14.0% Y/Y, vs –0.1% and –18.1% June).
13:30 CA July Building Permits (-3.0% to +3.0% M/M versus +1.0% June).15:45 DE Weber speaks, Frankfurt.
20:00 US July Consumer Credit (-$12B to $0 versus -$10.3B June).
00:01 GB August Nationwide Consumer Confidence (58 to 63 versus 60 July).
The Psychology:
US Congress goes back to work.
The Risk:
FX moves to a weaker US dollar gather momentum.
Today’s most interesting chart: German Schatz
Lowest ever yield.
