Quote:
‘Let nothing be called natural
In an age of bloody confusion,
Ordered disorder, planned caprice,
And dehumanized humanity, lest all things
Be held unalterable!. Bertolt Brecht (1898-1956)
The News:
China’s Financial News says rampant speculation in the property market is a time bomb threatening future economic growth. Singapore government also worrying about how to cool property market speculation.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
08:30 DE November Manufacturing PMI (50.5 to 52.5, Services 50.2 to 51.5, versus 51.0 and 50.7 October).
09:00 EZ16 November Manufacturing PMI (50.3 to 51.5, Services 52 to 53, Composite 53.3, vs 50.7/52.6/52.6 Oct).
12:45 ES ECB’s Trichet speaks at a financial sector convention, Madrid.
13:30 CA September Retail Sales (versus +0.8% M/M and Ex-Autos +0.5% August).
15:00 US October Existing Home Sales (5.2M to 5.85M versus 5.57M September).
The Psychology:
Japanese Labour and Thanksgiving holiday today.
The Risk:
Markets get thin as year-end pressures loom.
Today’s most interesting chart: Spot Gold
New record high despite USD stability last week.
