Quote:
‘Nothing wrong with shooting as long as the right people get shot.’ Clint Eastwood (1930-)
The News:
Reserve Bank of New Zealand holds rates at 2.50% and says they will stay here until H2 2010.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP September Industrial Production +1.4% M/M, -18.9% Y/Y, vs +1.8% and –18.7% August.
(23:50) JP September Corporate Services Prices –3.2% Y/Y versus –3.5% August.
04:00 JP September Vehicle Production –21.6% Y/Y versus –25.9% August.
08:55 DE October Unemployment Change (-1K to +45K, Unemployed 8.2% to 8.4%, versus –12K and 8.2% Sep).
09:30 GB September Net Consumer Credit (-£0.4B to +£0.1B, on Dwellings +£0.5B to +£1.5B, vs -£0.3B/+£1.0B Aug).
10:00 EZ16 October Business Climate (-2.03 to –1.8, Consumer –21 to –17, Economic 82.2 to 86.5, Industry –24 to –20, Services –9 to –7, versus –2.07, -19, 82.8, -24 and –9 September).
12:30 US Q3 GDP (+2.0% (Mizuho Secs) to +4.8% Q/Q annualised, Core PCE +1.2% to +1.8%, vs –0.7%/+2.0%).
12:30 US Weekly Jobless Claims (515K to 540K, Continuing Claims, vs 531K and 5850K to 5975K prior week).
12:30 CA September Industrial Prices (-0.4% to +0.3% M/M, Raw Materials –2.5% to +1.5%, vs +0.5% and +3.7%).
23:30 JP September Jobless (Mizuho Securities 5.6%, Job-to-Applicant 0.42, versus 5.5% and 0.42 August).
23:30 JP September Household Spending (Mizuho Securities +0.3% Y/Y versus +2.6% August).
23:30 JP October Tokyo CPI (Mizuho Securities –2.0% Y/Y, Ex-Fresh Food –2.2%, versus –2.0% and –2.1% Sep).
23:30 JP September National CPI (Mizuho Securities –2.2% Y/Y, Ex-Fresh Food –2.4%, vs –2.2% and –2.4% Aug).
00:01 GB October GfK Consumer Confidence (-17 to –9 versus –16 September).
The Psychology:
11:00 DE Bundesbank’s Weber talks. On this day in 1929 Wall Street crashed
The Risk:
13:30 US Treasury’s Geithner testifies to House Financial Services Committee on regulation, Washington.
Today’s most interesting chart: EUR/CZK
De-leverage is back in all her many guises.
