Quote:
‘As long as you’re going to be thinking anyway, think big.’ Donald Trump (1946-)
The News:
Pacific earthquake triggers tsunami in Samoa and American Samoa.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB September GfK Consumer Confidence –16 versus –25 August.
00:50 JP August Industrial Production +1.8% M/M, -18.7% Y/Y, versus +2.1% and –22.7% July.
02:30 JP August Labour Cash Earnings –3.1% Y/Y, Overtime –13.4%, versus –5.6% and –16.5% July.
05:00 JP August Vehicle Production –25.9% Y/Y versus –31.9% July.
06:00 JP August Housing Starts 676K annualised, Construction Orders –25.2%, versus 746K and –42.8% July.
07:30 TR IMF releases Global Stability Report, Istanbul.
08:55 DE September Unemployment change (0 to +45K, Unemployed 8.3% to 8.4%, versus –1K and 8.3% August).
10:00 EZ16 September CPI (-0.4% to 0% Y/Y versus –0.2% August). 10:30 CH September KOF Indicator (vs -0.4%).
13:15 US September ADP Employment change (-300K to –170K versus –298K August).
13:30 US revised Q2 GDP (-1.4% to –1.0% annualised, Core PCE +2.0%, versus –1.0% and +2.0%).
13:30 CA July GDP (0% to +0.9% M/M versus +0.1% June).
13:30 CA August Raw Materials Prices (+0.8% to +7.0% M/M, Industrial Products –0.7% to +0.7%, vs –3.8%/-0.5%).
14:45 US September Chicago Purchasing Managers (49.5 to 55.0 versus 50.0 August).
00:50 JP Q3 Tankan Survey (Mizuho Securities: Large Manufacturers –36, Outlook –25, Non-Manufacturing –28, Outlook –22, All-Industry Capex –11.4% versus –48/-30/-29/-21/-9.4% Q2).
00:50 JP August Retail Trade (Mizuho Securities +0.4% M/M, -2.4% Y/Y, versus +0.5% and –2.4% July).
The Psychology:
Various ECB board members speak throughout the day at Eurofi Financial Forum, Gothenburg.
The Risk:
US Fed’s Lockhart, Kohn and Tarullo speak in the afternoon. Tomorrow China on holiday for a week.
Today’s most interesting chart: Australian dollar
August Retail Sales +0.9% M/M.
