About Economic Calendar

A relaxing Labor Day; perhaps...

Mon, 06 Sep 2010 08:04:00 GMT

Following a hectic week, reporting agencies must have thought that we all needed a break. At least the calendar is quite light this week with the Bank of England meeting being one of a few potential market movers.

US July Housing Starts languish despite quick fixes

Tue, 17 Aug 2010 13:58:00 GMT

Housing starts and building permits continue to point to a distressed housing market. Both numbers came in below consensus. Tax credits have not been able to boost the housing market for more than a couple of months at a time.

Heavy macroeconomic agenda to toy with markets

Tue, 17 Aug 2010 08:09:00 GMT

ZEW surveys out of Germany and Eurozone this morning are potential triggers. Consensus is quite negative, which is likely a reflection of the volatility in financial markets in August so far.

Market may be disappointed by FOMC deliveries

Tue, 10 Aug 2010 07:42:00 GMT

Expectations of a fresh round of US quantitative easing - or at least indications that it may be initiated soon - have pushed risky assets higher in recent days. We think the market could be left disappointed by the announcement later Tuesday.

Veksler's Forex Blog: Trichet and a bucket of salt

Thu, 05 Aug 2010 09:07:00 GMT

ECB will only hold attention when Trichet begins his press conference. Having ridden high on the euphoria of the last 4 weeks, not least of which the “stellar” stress test results, it will be interesting to see how the old fella conducts himself.

ECB, BOE meetings; Don’t expect policy changes from either

Thu, 05 Aug 2010 08:43:00 GMT

ECB and BOE meetings; I don’t expect any policy changes from either meeting. However, as ever, the ECB’s post-meeting news conference will be fascinating.

Macro agenda to dominate; ADP jobs data eyed

Wed, 04 Aug 2010 07:47:00 GMT

Wednesday sees the release of US ADP Employment data which will serve as a solid indicator of Non-Farm Payrolls data due Friday. Also, ISM Non-manufacturing is expected to slow down (but still signal expansion).

FX Update: The USD continues its slide amid heightened chatter about further QE measures from the Fed next week

Wed, 04 Aug 2010 07:00:00 GMT

US data overnight continued the weak tone and fostered heightened speculation of further quantitative easing measures by the Fed.

Corp earnings back on the agenda; ADM to beat expectations?

Tue, 03 Aug 2010 07:37:00 GMT

There are plenty of US corporate earnings reports due out Tuesday pre-market, including ADM, which may beat the street.

Watch out for ISM Manufacturing today, buy on dips

Mon, 02 Aug 2010 07:25:00 GMT

ISM Manufacturing is the one to watch today and both consensus and we expect the report to show that manufacturing grew at a slower pace.

Watch out for macro data Friday, especially US GDP

Fri, 30 Jul 2010 07:38:00 GMT

Earnings have been better-than-expected this earnings season, but we expect the earnings surprise to be mostly priced in. Hence macro will become more important, starting with US GDP today.

Strong earnings from Shell and Sony will boost risk appetite

Thu, 29 Jul 2010 07:26:00 GMT

Sony beat earnings handsomely (25.7bn. Yen vs. 18bn. expected) and also raised full-year guidance by 10bn. to 60bn. Yen.

Earnings to continue fuelling risk sentiment

Wed, 28 Jul 2010 07:24:00 GMT

Earnings still setting the tone for risk sentiment and we expect solid results to continue. But US Durable Goods Orders data are released today so watch out for new signs of a slowing economy.

New Home Sales not as good as they look

Tue, 27 Jul 2010 07:22:00 GMT

New Home Sales yesterday were appalling, considering the number (330K) is the second worst ever recorded. Other numbers were not too solid either. But earnings reports remain strong.

Risk rally, but were EU stress tests too gentle?

Mon, 26 Jul 2010 07:20:00 GMT

It was unsurprising that only 7 out of 91 banks failed EU stress tests. The results show just EUR 3.5bn is needed in new capital in the banking sector while we expected a much higher figure of EUR 75bn.

EU Bank Stress Test; Not Too Stressful

Fri, 23 Jul 2010 13:38:00 GMT

The adverse scenario for EU banks under the stress tests is far too optimistic. No major haircuts on sovereign debt and no sharp economic contraction are assumed.

Daily Trading Stance: Sell on rallies

Thu, 22 Jul 2010 07:25:00 GMT

Sentiment will be affected by a string of big name earnings reports (Nokia, Caterpillar, UPS, Microsoft) and a series of key macro numbers. We expect some risk aversion and keep a sell-on-rallies stance.

Risk the major play as Morgan Stanley, Abbott report

Wed, 21 Jul 2010 07:38:00 GMT

Apple posted a 78% surge in the Q3 profit which triggered a rally in risk overnight in Asia. Look out for earnings from Morgan Stanley and Abbott Labs as drivers of risk appetite.

FX Update: EUR rally stalls above 1.30 for a second time

Wed, 21 Jul 2010 07:09:00 GMT

EUR's early attempt to rally was beaten back last night with 1.3029 the best it could do. This, despite strong demand at the Greek, Irish and Spanish auctions. The pair slipped back through 1.29 on profit-taking and short-term stops from momentum traders.

US housing data to confirm retracement; Goldman to report

Tue, 20 Jul 2010 07:49:00 GMT

Yesterdays NAHB Housing Index from US showed retracing confidence in the US housing market and today’s numbers from the US housing market will in our view confirm this sentiment trend. We have not yet seen a rebound in the US housing market.

Look Out For Earnings From General Electric And Bank Of America

Fri, 16 Jul 2010 07:20:00 GMT

Look out for earnings from Bank Of America and General Electric today and also for US CPI figures. Together with decent earnings, strong CPI figures (we think consensus is too low) could boost a risk rally.

Look Out For Earnings From JPMorgan and Google

Thu, 15 Jul 2010 08:04:00 GMT

Despite soft numbers from the US and Chinese economy we expect a continuation in the risk appetite led by solid earnings reports from JPMorgan and Google.

Risk Sentiment Is Likely To Change On The Back Of Intels Record Earnings

Wed, 14 Jul 2010 07:50:00 GMT

Intels posted record earnings yesterday is likely to change risk sentiment in markets and could trigger a shift in allocation back into higher-yielding assets away from safer assets.

Look For Intel Earnings Today

Tue, 13 Jul 2010 09:32:00 GMT

Look for Intel's earnings release today as this is actual start of the earnings season. The markets have overnight been characterized by risk aversion (also in equities), but a surprise to the upside in Intel's earnings will reverse this trend.

The PBoC declares renminbi flexibility

Mon, 21 Jun 2010 07:23:00 GMT

The CNY is flying after the PBoC sought for “flexibility” in the exchange rate. All things Asian and commodity related are also higher. China, however, does not want to discuss the CNY in the upcoming G20 meeting.

European bank stress tests to be published, sending equities higher

Fri, 18 Jun 2010 07:26:00 GMT

Following the central bank of Spain’s decision to publish the results of the stress tests on its banks, the EU has now followed suit.