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Key Economic Events For This Week
After a week full of macroeconomic and headline news (and blooper) fireworks, it’s a fairly quiet start to the week today, with the usual post-payrolls lull in the US with the labour market conditions index and consumer credit data the only releases due.
Tuesday starts in Japan where we’ll get the final revisions to Q3 GDP, while there’s important data out of China with the latest trade numbers. In the European session French trade data and business sentiment is due, while in the UK we’ll get the latest industrial and manufacturing production data, while the preliminary Q3 GDP report for the Euro area is the highlight shortly after. Over in the US the NFIB small business optimism reading, JOLTS job openings and IBD/TIPP economic optimism prints are due.
Kicking off Wednesday will be China where the CPI and PPI prints are due. German trade data follows this before we get US wholesale inventories and trade sales later in the afternoon.
In Europe on Thursday the highlights are the latest French CPI numbers as well the industrial and manufacturing production prints, while UK trade data is also expected shortly before the BoE rate decision at midday. In the US we’ll get the import price index, initial jobless claims print and Monthly Budget Statement.
It looks set to be a reasonably busy end to the week on Friday. German CPI and UK construction output highlight the morning data. That’s before we get the latest retail sales numbers out of the US in the afternoon, along with PPI, business inventories and the University of Michigan consumer sentiment print. There’s alot less Fedspeak for us to keep an eye on as we approach the next FOMC meeting with just Bullard scheduled to speak again this evening. The BoJ’s Kuroda, speaking tomorrow could be worth looking out for.
The key US events, summarized in one table:
Source: DB, BofA
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LOL!!! The real economy continues to head underground. "Strong dollar" you say? Remember that the velocity of a dead currency is in fact zero.
Now remind us, what has the velocity of king dollar been doing throughout this depression?
Velocity is zero because too much of it is in too few hands. Those few hands already have all the toys they want so far, until we peons start building starships for the megarich, no one has anything that anyone wants at any price. Smart phone market saturation is just another symptom of consumer fatigue.
Not that the dollar isn't dying, it's just that velocity is low becaues the consumer is finally saying "fuck this, I'm not going into more debt."
I'm doing the same myself. There are things I'd like to have, but I think I'd rather cut off a limb right now than go into debt to do it.
The VOM continues to deeeeeeecline from a high in 1997. If the money ain't moving, the economy ain't either.
The Federal Reserve is the problem. Bernanke says their next step is to start handing out money printed from thin air.
Welcome to Zimbabwe when that occurs folks.
Yeah, but we'll all be millionaires... then trillionaires... then quadrillionaires...
and taxed accordingly each step of the way.
And how sweet it will be to pay off the mortgage with one day's wages? =)
38.72 crude is hardly a quiet start to the week. I'll guess we might hear a loud crash by Friday.
WOW! Fill 'er up!
..... with moar mortal chaos...
38.32 crude: The sound of the impending world oil-commodity-trade-credit-financial collapse is getting louder.
37.98 crude future has an ominous tone.
I consulted with the oracle:
Sam Hyde says bad things are coming.
This market is really really starting to look toppy though. I think there are some ugly things in store for it this month.