Quote:
‘My wife hasn’t set foot in the kitchen since we married 38 years ago. She’s not a fool. She doesn’t cook and she doesn’t work.’ Richard Caring (1949-)
The News:
US Treasury’s Geithner defends the administration’s handling of the financial crisis on CNBC TV.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:50 JP final Q2 GDP +0.6% Q/Q, +2.3% Y/Y, Deflator Y/Y, vs +0.9%, +3.7% and +0.5% Q2.
06:00 JP August Consumer Confidence 40.4, Households 40.1, versus 39.7 and 39.4 July.
07:00 DE August WPI +0.7% M/M, -8.3% Y/Y, versus -0.5% and –10.6% July.
09:30 GB August PPI Input (+0.3% to +2.6% M/M, -10.3% to –7.1% Y/Y, versus –1.4% and –12.2% July).
09:30 GB August PPI Output (0% to +0.4% M/M, -1.6% to +0.2% Y/Y, versus +0.3% and –1.3% July).
13:30 US August Import Price Index (-0.5% to +2.0% M/M, -16.4% to –15.0% Y/Y, versus –0.7% and –19.3% July).
13:30 US July Trade Balance (_$30B to -$25B versus -$27B June).
13:30 CA July New Housing Price Index (-0.2% to +0.1% M/M versus –0.2% June).
15:00 US September University of Michigan Confidence Survey (64.5 to 71.0 versus 65.7 August).
15:00 US July Wholesale Inventories (-1.6% to –0.4% versus –1.7% June).
19:00 US August Monthly Budget Statement (-$190B to -$90B versus –112B July).
The Psychology:
Swedish Riksbank celebrates ten years of independence.
The Risk:
US.
Today’s most interesting chart: Nymex Natural Gas
Bouncing strongly from lowest price since March 2002.
