Quote:
‘If I didn’t have some kind of education, then I wouldn’t be able to count my money’. Missy Elliott (1971-)
The News:
General Motors suddenly decides not to sell its German operations saying conditions have improved.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(Late) US October Vehicle Sales 10.4M, Domestic 7.9M, versus 9.2M and 6.8M September.
00:01 GB October Nationwide Consumer Confidence 75 versus revised 72 September.
02:30 JP Bank of Japan governor Shirakawa speaks at economic forum, Tokyo: deflation to narrow in 2010/2011.
08:30 SE Swedish Riksbank Minutes of October 21st rate setting meeting.
09:30 GB October Services PMI (52.5 to 56.5 versus 55.3 September).
10:00 EZ16 September PPI (-0.5% to –0.2% M/M, -7.9% to –7.5% Y/Y vs +0.4% and –7.5% August).
10:30 GB October BRC Shop Price Index (versus +0.1% M/M and –0.1% Y/Y September).
10:30 GB auction result of £2B 4.50% 2034 Gilt.
12:30 US October Challenger Job Cuts (versus 66.4K and –30.2% Y/Y September).
13:15 US October ADP Employment Change (-250K to –160K versus –254K September).
14:00 US Treasury 3, 10 and 30-year auction announcement.
15:00 US October Non-Manufacturing ISM (49.2 to 54.4 versus 50.9 September).
19:15 US Fed’s FOMC interest rate decision (unanimously expected unchanged at 0.25%).
23:50 JP Bank of Japan Minutes of board meeting of 13/14th October.
The Psychology:
The Bank of England’s starts a two-day rate setting meeting (expected unchanged at 0.50%).
The Risk:
Taxpayers vote against US Democrats in state elections.
Today’s most interesting chart: Spot Gold
New record high despite slightly stronger US dollar.
