A New Week

Totally forgot my NFL picks yesterday but you shouldn't worry about that: in weeks 1-2 I was 0-4. So, better to concentrate on speculation then. Markets are coming off a terrific week that saw the Fed cut 50 bp and equities subsequently screamed higher.

I expect a slow start to the week and then volatility to pick up Thursday and Friday with lots of important data (see below).

Still short AUDJPY @ 99.76

Monday, 24 September 2007

0900 Eurozone July industrial new orders (4.4% m/m)

1300 US Dallas Fed President Fisher speaks

1630 US Federal Reserve official Evans speaks

1700 US Federal Reserve Chairman Bernanke speaks

2350 Japan August Bank of Japan Policy Board meeting minutes

Tuesday, 25 September 2007

0500 Japan August supermarket sales (-2.8% y/y)

0800 CH August UBS consumption indicator (2.261)

0800 Germany September Ifo, business climate (105.8)

0800 Germany September Ifo, current assessment (111.5)

0800 Germany September Ifo, expectations (100.4)

0830 UK Q2 total business investment (0.8% q/q)

1300 NZ Q3 Westpac consumer confidence (111.4)

1400 US September consumer confidence (105)

1400 US September Richmond Fed manufacturing index (7)

1400 US August existing home sales (5.75 million)

1400 US August existing home sales (-0.2% m/m)

1430 Austria European Central Bank member Liebscher speaks

2130 US Philadelphia Fed President Plosser speaks

2245 NZ August trade balance (-NZ$ 791.0 million)

2350 Japan August merchandise trade balance, total (¥666.5 billion)

Wednesday, 26 September 2007

0000 Australia July leading index (0.4%)

0610 Germany October GfK consumer confidence (7.6)

0830 UK Q2 GDP (0.8% q/q)

0830 UK Q2 current account (-₤12.2 billion)

0930 CH September KOF leading indicator (2.06)

1230 US St. Louis Fed President Poole speaks

1230 US August durable goods orders (5.9%)

1230 US August durable goods, ex-transportation (3.7%)

1510 Eurozone European Central Bank President Trichet speaks

2245 NZ August building permits (-15.5% m/m)

Thursday, 27 September 2007

0210 Japan Bank of Japan Policy Board member Suda speaks

0300 NZ September NBNZ business confidence (-33.8)

0500 Japan September small business confidence (47.5)

0600 Germany August ILO unemployment rate (6.2%)

0600 UK September Nationwide house prices (0.6% m/m)

0755 Germany September unemployment change (-15,000)

0755 Germany September unemployment rate (9.0%)

0830 UK July index of services (0.8%)

1230 US Boston Fed President Rosengren speaks

1230 US Q2 GDP, annualized (4.0%)

1230 US Q2 price index (2.7%)

1230 US Q2 PCE, core (1.3% q/q)

1230 US Weekly initial jobless claims (311,000)

1230 US Continuing jobless claims (2.544 million)

1400 US August home sales (870,000)

1400 US August new home sales (2.8% m/m)

1530 Australia Reserve Bank of Australia member Lowe speaks

1700 US Federal Reserve Chairman Bernanke speaks

2130 US Federal Reserve Governor Mishkin speaks

2245 NZ Q2 GDP (1.0% q/q)

2330 Japan August jobless rate (3.6%)

2330 Japan August overall household spending (-0.1% y/y)

2330 Japan September Tokyo-area consumer price index (-0.2% y/y)

2330 Japan September Tokyo-area CPI, ex-food and energy (-0.2% y/y)

2330 Japan August CPI (0.0% y/y)

2330 Japan August CPI, ex-food and energy (-0.5% y/y)

2350 Japan August industrial production (-0.4% m/m)

2350 Japan August large retailers’ sales (-2.5%)

2350 Japan August retail trade (-2.5% m/m)

Friday, 28 September 2007

0030 Australia September TD Securities inflation (0.5% m/m)

0500 Japan August housing starts (-23.4% y/y)

0500 Japan August annualized housing starts (947,000)

0500 Japan August construction orders (-10.4% y/y)

0600 Germany August retail sales (0.6% m/m)

0645 France Q2 GDP (0.3% q/q)

0730 Italy European Central Bank member Bini Smaghi speaks

0900 Eurozone September consumer price index (1.7% y/y)

0900 Eurozone September consumer confidence (-3)

0900 Eurozone September industrial confidence (5)

0900 Eurozone September economic confidence (110)

0900 Eurozone September services confidence (20)

0900 Eurozone September business climate indicator (1.41)

0930 UK September GfK consumer confidence (-4)

1230 US August personal spending (0.4%)

1230 US August personal income (0.5%)

1230 US August PCE deflator (2.1% y/y)

1230 US August PCE core (0.1% m/m)

1230 US August PCE core (1.9% y/y)

1230 Canada July GDP (0.2% m/m)

1345 US September Chicago PMI (53.8)

1400 US Atlanta Fed President Lockhart speaks

1400 US August construction spending (-0.4% m/m)

1400 US University of Michigan consumer sentiment (83.8)

1415 US San Francisco Fed President Yellen speaks

1700 US St. Louis Fed President Poole speaks

1715 US Federal Reserve Governor Mishkin speaks

(Source: GCI Financial)