Trading with point and figure

goin either way

whacked

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Bank of England frate setters face a grilling this morning
Question 1. Who scored for Chelsea on Saturday..??
 
Data schedule outside of UK PSNB and CBI Industrial Trends survey once
again very sparse: US kicks off coupon auctions
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** EVENTS PREVIEW **
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Once again the day's data schedule is rather sparse with nothing more than the UK PSNB and CBI Industrial Trends survey to digest, while the events schedule is peppered with a couple of Fed and ECB speakers, rate decisions in Argentina, Hungary, Nigeria and Paraguay (all expected to be unchanged), along with the minutes of the unexpected no change Brazil BCB rate decision last week. The US continues this week's $270 Bln of debt sales with $45 Bln of 4-week T-Bills and $33 Bln of 2-yr T-notes, which in WI (when issued) trade are at 2.59%, which looks princely when compared with the 2.04% 10-yr yield in Sept 2017 and indeed the marginal increment on offer in 10-yr at 3.07% at the current juncture. Today's Russia data may also attract attention, by dint of those looking for an impact from the US sanctions, though this is more likely to show through in 3 to 6 months (if indeed, there is an impact). In terms of the UK data, the PSNB is for the first month of the fiscal year, and per se more noteworthy for any revisions for any revisions (often substantial) revisions to the 2017/18 fiscal data than the current fiscal year, while the CBI Industrial Trends survey is projected to see a further drop in overall Orders to +2 from +4, with the Prices component seen unchanged at +18, elevated, but well below recent highs, though the recent weakness in the GBP and the rise in Oil prices suggests some upside risks.

======== from Marc Ostwald
 
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