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Market View

The euro slid to a three-week low...

Monday, October 1, 2012 3:31 AM GMT

Good morning ,


-Asian stocks fell for a second day, raw materials declined and the Australian dollar weakened as manufacturing data in China and Japan added to global slowdown signs. The euro slid to a three-week low before a report that is forecast to show record unemployment in member states.

 

-Europe faces a month that may decide the success of the European Central Bank’s bid to end the debt crisis as leaders navigate a tougher approach from creditor countries, unrest in Spain and a looming report on Greece. With the first of three summit meetings that European Union President Herman Van Rompuy has called “crucial” taking place in Brussels on Oct. 18-19, investor sentiment toward the euro area that surged in September is on the wane.

-Europe focused on union rather than breaking up banks-Reuters

-German SDP chanc-candidate Steinbrueck- Give Greece more time- Die Welt

-Greece sure to get next aid tranche- Wirtschaftswoche and Focus

-Spain's 2013 borrowing plans to see debt/GDP ratio top 90%

-Spain central bank hopes to approve bank recap plans by early October

-Stress test reveal Spanish banks need 59.3 Bio Euro of new capital

-Italy Fin Min Spain is acting in a very determined manner on reforms

-China’s manufacturing contraction persisted last month, Japanese industrial companies grew more pessimistic and South Korean exports fell, signaling East Asia’s biggest economies have yet to reverse their slowdown. A Chinese factory index was at 49.8 for September, the first time that it has been below 50 for two straight months since 2009, a statistics bureau report showed in Beijing today. Japan’s Tankan index of large manufacturers’ confidence fell to minus 3 for the past quarter. South Korean shipments slid for a third month.

-Japanese Prime Minister Yoshihiko Noda appointed as finance minister a senior lawmaker who worked with him on a plan to raise the sales tax, in a cabinet reshuffle aimed at boosting his ruling party's chances in an election expected in months. Koriki Jojima, 65, who served as the parliamentary affairs chief for the ruling Democratic Party of Japan (DPJ), will take charge of the world's third largest economy as it teeters on the brink of recession, hurt by a global slowdown and a strong yen.Jojima is likely to toe Noda's line on the need for fiscal reforms given he was instrumental in securing a political deal on the prime minister's signature plan to double the sales tax to 10 percent by October 2015.He replaced Jun Azumi, who moved to a senior party post

-UK house prices fell for the third month in September

-Fitch affirms UK's AAA rating, but outlook is negative

-Australia Sep PMI -1.2 to 44.1 vs 45.3 in August

-Australia Sept TD/MI inflation +0.2%mm, +2.4%yy

-NZ Q3 Westpac/mm job confidence index up from 3 month low to 98.9. last 96.2

 

 

09.15

CH Retail sales yy

09.30

CH PMI

09.58

EZ Markit Mfg PMI

10.28

UK Markit/CIPS mfg PMI

10.30

UK BoE consumer credit

10.30

UK Mortgage lending and approvals

10.30

UK Money supply M4

11.00

EZ Unemployment rate

14.30

CA Producer prices mm and yy

14.30

CA Raw materials prices mm and yy

14.58

US Markit Mfg PMI final

15.30

CA RBC Mfg PMI SA

16.00

US Construction spending

16.00

US ISM Manufacturing PMI

(CET)

Have a nice week !

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