Quote:
‘By the way, I was being sarcastic.’ Homer Simpson (1987-)
The News:
South Korea Q4 GDP disappoints at +0.2% Q/Q, +6.0% Y/Y vs +3.2% and +0.9% Q3.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP December Corporate Service Prices –1.5% Y/Y versus revised –2.2% November.
05:00 JP January Small Business Confidence 41.3 versus 40.4 December.
07:00 DE December Import Price Index +0.5% M/M, -1.0% Y/Y, versus +0.4% and –5.0% November.
09:00 DE January IFO Business Climate (92.2 to 95.5, Current 90.8 to 92.0, Expectations 98.5 to 99.5, versus 94.7, 90.5 and 99.1 December).
09:00 EZ16 November Current Account (versus -€4.6B October).
09:30 GB Q4 GDP (+0.2% to +0.5% Q/Q, -3.2% to –2.8% Y/Y, versus –0.2% and –5.1% Q3).
09:30 GB December BBA Mortgages (44K to 48K versus 44.7B November).
09:45 GB Bank of England’s King, Tucker and Financial Stability’s Haldane testify at Treasury Committee.
14:00 US November CaseShiller Home Prices (-0.8% to +1.0% M/M, -5.4% to –5.0% Y/Y vs +0.37%/–7.28% Oct).
15:00 US November House Price Index (-0.2% to +1.0% M/M October).
15:00 US January Consumer Confidence (50 to 57 versus 52.9 December).
15:00 US Congressional Budget Office releases 2010 Budget and economic outlook.
16:00 US IMF releases World Economic Outlook.
23:50 JP December Trade Balance (Mizuho Securities 630B yen versus 371B and November).
The Psychology:
Australian and Indian holidays today.
The Risk:
The Fed’s FOMC starts a two-day rate-setting meeting (expected unchanged at 0.25%).
Today’s most interesting chart: China Enterprise Index
Dropping below 200-day moving average.
