Quote:
‘We are becoming the men we wanted to marry.’ Gloria Steinem (1930-)
The News:
Chinese banking regulator warns large banks not to let capital adequacy ratios to deteriorate.
The Numbers:
British Summer Time, with expectations and previous figures in brackets.
07:35 JP Bank of Japan governor Shirakawa speaks, Tokyo.
08:15 CH August Retail Sales (versus +1.0% Y/Y July).
10:00 EZ16 August Trade Balance (+€3B to +€7.8B S/A versus +€6.8B July).
12:00 CA September CPI (-0.2% to +0.2% M/M, -1.0% to –0.6% Y/Y, versus 0% and –0.8% August).
12:00 CA September Core CPI (-0.1% to +0.4% M/M, +1.4% to +1.7% Y/Y, versus +0.1% and +1.6% August).
14:00 US August Long Term TIC Flows (-$15B to +$45B versus +$15.3B July).
14:15 US September Industrial Production (-0.5% to +0.5%, Capacity Utilisation 69.2% to 70.0%, versus +0.8% and 69.6% August).
15:00 US October University of Michigan Confidence Survey (70 to 77.1 versus 73.5 September).
15:10 US Fed’s Fisher speaks on globalisation’s role in the financial crisis and recover, Dallas.
16:30 DE ECB’s Weber speaks on the financial crisis, University of Konstanz.
The Psychology:
General election in Botswana today and Diwali holiday in India Monday.
The Risk:
Stock market euphoria wanes.
Today’s most interesting chart: GBP/JPY
Re-thinking both of these currencies.
