Quote:
‘Things fall apart; the centre cannot hold;
Mere anarchy is loosed upon the world,
The blood-dimmed tide is loosed, and everywhere
The ceremony of innocence is drowned;
The best lack all conviction, while the worst
Are full of passionate intensity’. W. B. Yeats (1865-1939)
The News:
Reserve Bank of India buys 200 tonnes of gold for $6.8B from the IMF.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
03:30 AU Reserve Bank of Australia increases Cash Target rate by 25 basis points to 3.50%.
09:30 GB October Construction PMI (46.5 to 48.0 versus 46.7 September).
14:00 EZ16 ECB’s Weber and Mersch speak on financial stability, Luxembourg.
15:00 US September Factory Orders (+0.2% to +1.5% versus –0.8% August).
Late US October Vehicle Sales (8M to 10.5M, Domestic 6M to 7.8M, versus 9.2M and 6.8M September).
00:01 GB October Nationwide Consumer Confidence (67 to 75 versus 71 September).
02:30 JP Bank of Japan governor Shirakawa speaks at economic forum, Tokyo.
The Psychology:
Holiday in Japan today as the US Fed’s FOMC starts a two-day rate-setting meeting.
The Risk:
Mayoral election in New York and elections for governors of New Jersey and Virginia today.
Today’s most interesting chart: S&P 500
Thrashing around trendline, 50-day moving average and Ichimoku ‘cloud’ support, as is the Dollar Index.
