Intraday Market Thoughts

Archived IMT (2009.07.13)

by Ashraf Laidi
Jul 13, 2009 17:53

Tuesday's release of US retail sales, UK CPI and Germanys ZEW should add some macrodata to the earnings calendar, as emphasis turns to the consumer. Last week's disappointing consumer confidence from the Univ of Michigan followed an equally dismal survey from the Conference Board. As disinflation returns to the fore, so will the topic of quantitative easing and whether the Fed and BoE will replenish their asset purchases beyond their existing program, due to end this month. UK CPI expected at 1.8% from 2.2%, which would provoke further deflationary talk as well as GBP pressure. Aussie NAB Business Confidence survey for June due at 1:30 am GMT


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