Quote:
‘Above all I am not concerned with Poetry.
My subject is War, and the pity of War.
The Poetry is in the pity’. Wilfred Owen (1893-1918)
The News:
Reserve Bank of New Zealand says kiwi too strong and not sustainable.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP September Machine Orders +10.5% M/M, -22.0% Y/Y, versus +0.5% and –26.5% August.
00:30 US Fed’s Fisher speaks on the US economy, Austin: says not a disorderly dollar depreciation so far.
09:30 GB October Jobless Claims (15K to 25K, Claimant Count 5.0% to 5.1%, versus 20.8K and 5.0% September).
09:30 GB September ILO Unemployment (7.9% to 8.1 % versus 7.9% August).
09:30 GB September Average Earnings (+1.4% to +1.5% 3M/Y/Y, Ex-Bonus +1.7% to +1.8%, vs +1.6%+1.9% Aug).
10:30 GB Bank of England Quarterly Inflation Report.
17:00 DE ECB’s Weber speaks regulatory consequences of the financial crisis, Hohenheim University.
23:50 JP October Domestic CGPI (Mizuho Securities –0.2% M/M, -6.1% Y/Y, vs +0.1% and –7.9% August).
The Psychology:
Veterans’ Day holiday in Bermuda, Poland and the US.
The Risk:
US Treasury secretary Geithner believes deeply that should maintain a strong dollar.
Today’s most interesting chart: Eurodollar futures
Front month contracts trade at record highs.
