Quote:
‘This is no case of petty right or wrong
That politicians or philosophers
Can judge. I hate not Germans, nor grow hot
With love of Englishmen, to please newspapers.
Beside my hate for one fat patriot
My hatred of the Kaiser is love true.’ Edward Thomas (1878-1917)
The News:
US bipartisan talks on overhauling financial regulation fail; passing legislation this year unlikely.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
07:00 DE February Wholesale Price Index +0.1% M/M, +2.1% Y/Y, versus +1.3% and +1.9% January.
10:00 GB Bank of England chief economist Dale speaks at Trinity College, Cambridge.
10:15 DE ECB’s Weber in a panel discussion, Bonn.
11:00 EZ16 January Industrial Production (-1.0% to +2.0% M/M, -2.7% to +0.2% Y/Y, versus –1.4% and –4.2% Dec).
13.30 US February Retail Sales (-1.0% to +0.3%, Ex-Autos –0.8% to +0.6%, vs +0.5% and +0.6% January).
13:30 CA February Employment Change (-10K to +45K, Unemployment 8.2% to 8.4%, vs 8.3% and +43K January).
14:55 US March University of Michigan Confidence Survey (71 to 78 versus 73.6 February).
15:00 US January Business Inventories (-0.1% to +0.3% versus –0.2% December).
The Psychology:
President Sarkozy visits the UK (meetings with Brown and Cameron) without his wife as French Finance Minister Lagarde takes part in a women’s conference in New York.
The Risk:
Strange, tiny ranges in equity indices this week.
Today’s most interesting chart: Canadian dollar
Testing ‘triangle’ support.
