Quote:
‘The trouble with the French, is that they have no word for entrepreneur.’ George W. Bush (1946-)
The News:
India February Wholesale Price Inflation +9.89% Y/Y.
The Numbers:
Greenwich Mean Time, with expectations and previous figures in brackets.
00:01 GB March Rightmove House Prices +0.1% M/M, +5.3% Y/Y, versus +3.2% and +6.1% February.
04:00 JP February Tokyo Condominium Sales +10.7% Y/Y versus –9.9% January.
05:00 JP February Consumer Confidence 40.0, Households 39.8, versus 39.4 and 39.0 January.
08:15 CH February PPI (versus +0.3% M/M and –1.3% Y/Y January).
10:00 EZ16 Q4 Employment (versus –0.5% Q/Q and –2.1% Y/Y Q3).
12:30 CA January New Motor Vehicle Sales (-0.4% to +1.3% M/M versus +2.6% December).
12:30 US March Empire State Manufacturing Survey (15.2 to 28.5 versus 24.91 February).
13:00 US January Net Long Term TIC Flows (versus +$63.3B December).
13.15 US February Industrial Production (-0.7% to +0.5%, Capacity Utilisation 72.0% to 73.2%, vs +0.9%/72.6%).
16:00 EU27 Finance Ministers’ meeting today and tomorrow, Brussels.
17:00 US March NAHB Housing Market Index (15 to 19 versus 17 February).
The Psychology:
The US and Canada put their clocks forward Sunday to Daylight Savings Time.
The Risk:
Today is the Greek deadline to submit its proposals for budget deficit reduction; expect a bailout.
Today’s most interesting chart: CHF
Lowest weekly close since late January, below a sort of ‘neckline’ on the 50-day moving average as EUR/CHF closes below SNB’s 1.4600 moving towards record low 1.4300 of Oct/2008.
