11-1 Economic Calendar
China PMI Manufacturing
The official October PMI Manufacturing indicator from China beat expectation at 54.7, better than the survey of 53.8 and the prior reading of 53.8. The news revived a light USD bid in the market but it has since subsided.
UK Hometrack Housing Survey
The UK Housing Price Index declined further, down -0.9% for the month and -0.1% on a year over year basis. This represents a fourth straight decline in the index and the largest decline since January 2009. The deflationary reading did not help the Pound.
Aussie House Prices Decline
The Australian housing market is finally showing signs of slowing with another declining reading and worse revision to the prior months release. The AUD had a minimal reaction to the following details:
House Price Index (QoQ) – Survey:0.0% Actual:0.1% Prior:3.1% Revised:2.0%House Price Index (YoY) – Survey:13.4% Actual:11.5% Prior:18.4% Revised:16.3%
Greg Michalowski interviewed for “The Real Story” on TheStreet.com
Election Impact, Dollar’s Dilemma, India vs. China
Gregg Greenberg breaks down today’s market action. Guests include Dan Greenshields, president of ING Direct’s Sharebuilder, Greg Michalowski, chief currency analyst at FXDD and Raghav Bahl, author of “Superpower?”
To access the interview click on the following link:
http://www.thestreet.com/podcasts/real-story.html
Key releases and events for next week.
Monday:
10:00 AM ET: US ISM Manufacturing: 54.2 ex vs 54.4 last
11:30 PM ET: Reserve Bank of Australia, Exp no change at 4.5%
Tuesday:
4:15 AM ET: CHF Retail Sales Y/Y, 1.4% vs 0.1%
Wednesday:
8:15 AM ET: ADP Non Farm Employment Change, 22k vs. -39k last
10:00 AM ET: ISM Non Manufacturing PMI 53.5 vs 53.2 last month
2:15 PM ET: FOMC Decision
Thursday:
8:00 AM ET: UK Asset Purchase Facility and Official Bank Rate, 200B vs 200B
8:45 AM ET: Minimum Bid Rate ECB, Unchanged
9:30 AM ET: Trichet Press Conference
10:00 AM ET: Ivey PMI, 69.7 vs 70.3 last month
8:30 AM ET: RBA Monetary Policy Statement
Friday:
7:00 AM ET: Canada Employment Change 10.1K vs -6.6K, Rate 8.0% vs 8.0%
8:30 AM ET: US Non-Farm Payroll 65K vs -95K last, Private Payrolls +80K vs +64K last month, Unemployment Rate 9.6% vs 9.6%
10:00 AM ET: Pending Home Sales 3.4% vs 4.3%
2:00 PM ET: FOMC Bernanke Speaks
The Midday Forex Commentary. Month and week coming to a close
Michigan Consumer Confidence Down Slightly
University of Michigan Consumer Confidence comes in weaker at 67.9 opposed to 68.2 of the prior month. Economic conditions fell from the prior month while the economic outlook rose to 64.6 vs. 60.9.
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