Frontrunning: November 1

Tyler Durden's picture
  • China PMI in surprise fall, lowest since 2009 (Reuters)
  • Fury in Germany after Greek referendum call (Reuters)
  • Europe Debt Crisis Threatens Asian Growth (Bloomberg)
  • Gang Forms Inside US Debt Panel in Quest for Deal (Reuters)
  • Italy's crisis deepens on eurozone slump, bail-out doubts (Telegraph)
  • Greek vote would be on euro membership: Finnish minister (Reuters)
  • President Hu confident in Europe (China Daily)
  • New invoice system to further regulate rare earths industry (China Daily)
  • Ministers fear steep rise in job losses(FT)

European economic highlights:

  • Germany Retail Sales for September 0.0% m/m – higher than expected. Consensus -0.4% m/m. Previous 0.6% m/m.
  • Norway PMI s.a. for October 50.8 – lower than expected. Consensus 53.7. Previous 54.8.
  • Sweden PMI Survey for October 49.8 – higher than expected. Consensus 47.2. Previous 48.1.
  • UK PMI Manufacturing for October 47.4. Consensus 50.0. Previous 51.1.
  • UK GDP 0.5% q/q 0.5% y/y – higher than expected. Consensus 0.3% q/q 0.4% y/y. Previous 0.1% q/q 0.6% y/y.

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Ghordius's picture

Fury in Germany after Greek referendum call (Reuters)

Fury? Really?

"Rainer Bruederle, parliamentary leader for Free Democrats (FDP) who share power with Chancellor Angela Merkel's conservatives, suggested Athens was trying to wriggle out of the 130 billion euro bailout deal, which demands harsh state spending cuts from Greece in exchange for aid. "I was irritated (by the news), Bruederle told Deutschlandfunk radio. "That's a strange way to act.""

So now when the leader of the smallest party of Germany is irritated, this get's translated into GERMANY FURIOUS!?


Nagelstudio's picture

Die Vernachlässigung des Faktors Service kann ich nicht bestätigen. Ich war zuletzt schonmal in einem Fastfood Restaurant und habe nur gutes Essen bekommen, alles war warm und lecker. Durch Coupons habe ich sogar etwas gespart. | Gutscheine-Blog

msmith's picture

The SPX is looking to make a large gap open lower.  Looking for a correction before the move continues though. The DX is clearly bullish and GC has returned to the bearish correction.  "Risk off" is here as expected.

Grand Supercycle's picture

As mentioned for some time, the bullish USD weekly chart continues to exert it’s influence and according to my analysis this will continue.

DOW chart showing bearish megaphone pattern warned of resumption of downtrend: