Quote:
‘I don’t hate women – they just sometimes make me mad’. Eminem (1972-)
The News:
South Korea to limit FX forwards; Taiwan frets over ‘hot money’.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
04:30 JP September All Industry Activity Index –0.6% M/M versus +0.9% August.
07:15 CH October Trade Balance +2.463B CHF (watch exports –22.7%) versus +1.918B September.
09:20 GB Bank of England’s Fisher speaks to pension funds, London. 09:30 BoE’s Trends in Lending Report.
09:30 GB October Retail Sales (+0.1% to +1.1% M/M, +2.6% to +3.4% Y/Y, versus 0% and +2.4% September).
09:30 GB October Public Finances (£1B to £7B, Net Borrowing £4B to £10.7B, versus £19.4B and £14.8B September).
09:30 GB October M4 Money (+0.9% to +1.5% M/M, +9.0% to +11.0% Y/Y, versus +0.8% and +11.6% September).
13:30 US Weekly Jobless Claims (485K to 550K, Continuing Claims 5350K to 5700K, vs 502K and 5631K prior week).
13:30 CA October Leading Indicators (+0.3% to +1.0% M/M versus +1.1% September).
13:30 CA September Wholesale Sales (-0.5% to +2.0% M/M versus –1.4% August).
13:30 CA September International Securities Transactions (C$2B to C$6B versus C$5.08B August).
15:00 US November Philadelphia Fed Survey (3.5 to 20.0 versus 11.5 October).
15:00 US October Leading Indicators (0% to +0.9% versus +1.0% September).
15:00 US Q3 Mortgage Delinquencies (versus 9.24% Q2).
15:00 US Treasury’s Geithner testifies at Joint Economic Committee in Financial Reform, Washington.
The Psychology:
The Bank of Japan starts a two-day rate-setting meeting (expected unchanged at 0.10%).
The Risk:
Stock indices slip a little.
Today’s most interesting chart: Topix Index
Breaking below ‘neckline’ of ‘head-and-shoulders’ top.
