GOWRI PANDIT

The News:

Reserve Bank of New Zealand inflation expectations rise to 2.8% in Q2 2010.


The Numbers:

British Summer Time, with expectations and previous figures in brackets.

09:30 GB revised Q1 GDP (0% to +0.3% Q/Q, -0.5% to –0.1% Y/Y, versus +0.2% and –0.3%.

09:30 GB April BBA Mortgages (35,200 to 38,000 versus 34,905 March).

09:30 GB March Index of Services (+0.2% to +0.3% 3M/3M versus +0.4% February).

10:00 EZ16 March Industrial New Orders (+0.5% to +4.9% M/M, +13.1% to +19.3% Y/Y, vs +1.9% and +12.5%).

14:00 US March CaseShiller House Prices (-0.7% to +0.3% M/M, +1.5% to +3.0% Y/Y, vs –0.1% and +0.6% Feb).

15:00 US May Consumer Confidence (53 to 63 versus 57.9 April).

15:00 US May Richmond Fed Manufacturing Index (18 to 26 versus 30 April).

15:00 US March House Price Index (-0.3% to +0.3% M/M versus –0.2% February).

16:15 US Fed’s Bullard speaks on economic recovery, London.

00:50 JP April Corporate Services Price Index (versus –1.1% Y/Y March).

00:50 JP Bank of Japan Minutes of April’s MPC meeting.

01:30 US Fed’s Bernanke speaks on central bank independence, Bank of Japan, Tokyo; Plosser at 03:00.


The Psychology:

The US and now Japan warn their economic recovery might be held up by Eurozone woes.


The Risk:

US declares ‘fishery disaster’ in 3 states in the Gulf of Mexico; aid available. Oil spill in Singapore.