Quote:
‘I find it gives me wings. The thing about two pints at lunch is that you don’t feel drunk, you just feel ever so slightly superb.’ Boris Johnson (1964-)
The News:
New Zealand August Retail Sales +1.1% versus –0.5% July.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
00:01 GB September RICS House Price Balance 22% versus revised 10% August.
00:01 GB September BRC Retail Sales Monitor +2.9% Y/Y like for like, total +4.9%, helped by public holiday.
00:50 JP September M2 Money Supply +3.0% Y/Y, Bank Lending +1.7%, versus +2.8% and +1.9% August.
08:15 CH September PPI (-0.2% to +0.2% M/M, -5.2% to –4.8% Y/Y, versus +0.1% and –5.5% August).
09:30 GB September CPI (-0.1% to +0.6% M/M, +1.6% to +1.9% Y/Y, versus +0.4% and +1.8% August).
09:30 GB September DCLG House Prices (-7.4% to –3.8% Y/Y versus –8.3% August).
10:00 DE October ZEW Survey (Sentiment 50 to 69, Situation –70 to -64, versus 57.7 and –74 September).
13:30 CA August New Housing Price Index (0% to +0.5% M/M versus +0.3% July).
14:00 GB Bank of England’s Bean speaks at the Society of Chartered Accountant annual lunch, London.
15:00 US October IBD/TIPP Economic Optimism (52 to 53.5 versus 52.5 September).
18:15 US Fed’s Dudley speaks at the Institute of International Bankers, New York; Kohn at 18:45, St. Louis.
00:50 JP September Domestic CGPI (Mizuho Securities +0.2% M/M, -7.8% Y/Y, versus 0% and –8.5% August).
The Psychology:
Bank of Japan starts a two-day MPC meeting.
The Risk:
Currencies jostle for pole position.
Today’s most interesting chart: Canadian dollar
Strongest since early October.
