Quote:
France: ‘a nation where the women were all dainty, exquisitely coiffed, nasty little creatures.’ Julia Child (1912-2004)
The News:
Chinese minister for Social Security says ‘the current employment situation remains grave’.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB August Nationwide Consumer Confidence 63 versus 60 July.
06:00 JP July Leading Index 83.0, Coincident Index 89.6, versus 79.9 and 88.0 June.
07:15 EU27 ECB’s Trichet meets European Parliament president Jerzy Buzek, Brussels.
09:30 GB July Trade Balance (-£6.6B to -£6.0B, Non-EU -£3.5B to -£3.2B, versus -£6.45B and -£3.6B June).
10:00 DE Kiel Economic Institute publishes fall forecast.
13:00 US Fed’s Evans speaks on inflation, New York.
13:15 CA August Housing Starts (125K to 145K versus 134K July).
18:55 US Fed’s Fisher speaks on business challenges, Dallas.
19:00 US Fed’s Beige Book.
00:50 JP July Machine Orders (Mizuho Securities –6.5% M/M, -33.0% Y/Y, versus +9.7% and –29.7% June).
00:50 JP August Domestic CGPI (Mizuho Securities +0.1% M/M, -8.4% Y/Y, versus +0.4% and –8.5% July).
The Psychology:
The Bank of England starts a two-day rate-setting MPC meeting (expected unchanged).
The Risk:
Germany auctions €7B two-year Schatz; US ten-year TNotes.
Today’s most interesting chart: Euribor future
New record high at 99.290, equivalent yield 0.71%.
