Quote:
‘Hope is a four-letter word.’ Robert Prechter (1949-)
The News:
Greek labour union strikes close schools, hospitals and cancel aeroplane flights today.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
(23:50) JP December Machine Orders +20.1% M/M, -1.5% Y/Y, versus –11.3% and –20.5% November.
(23:50) JP January Domestic CGPI +0.3% M/M, -2.1% Y/Y, versus revised 0% and –3.9% December.
(23:50) JP Q4 Housing Loans +1.6% versus +0.8% Y/Y Q3.
09:30 GB December Industrial Production (-0.3% to +1.0% M/M, -6.0% to –0.9% Y/Y, vs +0.4% and –6.0% Nov).
09:30 GB December Manufacturing Production (0% to +0.7% M/M, -3.4% to –0.3% Y/Y, vs 0% and –5.4% Nov).
10:30 GB Bank of England Quarterly Inflation Report.
13:30 US December Trade Balance (-$40B to -$31B versus -$36.4B November).
13:30 CA December Trade Balance (-C$3.6B to +C$1.0B versus –C$0.3B November).
15:00 US all testimonies in Washington cancelled because of severe weather.
18:20 US Fed’s Fisher speaks on this year economic landscape, Dallas.
19:00 US January Monthly Budget Statement (-$95B to -$43B versus -$63.5B December).
00:01 GB January NIESR GDP.
The Psychology:
Japanese National Foundation day holiday tomorrow; also Taiwan until Friday; India Friday.
The Risk:
Swedish Riksbank starts a two-day rate-setting meeting. German and US ten-year Treasury auctions.
Today’s most interesting chart: Bobl future
Bouncing strongly from an intra-day low and 9-day MA.
