FYI | Sep 09 2007
By Greg Peel
Given the Fed is now looking for “timely” indicators, the US stock market is ready to jump on anything. However, after a worrying Friday where jobs growth proved negative in August, there is little for traders to digest until this Friday.
July consumer credit is released on Monday – a fairly stale piece of news, but at least something. Similarly the July trade figures come out on Tuesday. Then nothing till Friday which brings the second quarter current account, July business inventories, and August capacity, industrial production and import prices. Most importantly, Friday brings August retail sales and the Michigan U measure of consumer confidence for September.
In Australia, we have July housing finance on Monday, lending finance on Tuesday and second quarter dwelling starts on Thursday.
Elsewhere there will be interest in Japan’s second quarter GDP on Monday, China’s August CPI on Tuesday, the RBNZ rate decision on Thursday and the EU August CPI on Friday.
It will be the following week when things get interesting (if nothing untoward occurs this week). September 18 the Fed makes its rate decision and that week US financials begin releasing profit estimates (or lack thereof).