What to Expect This Week

After an extraordinary week where the world's most important financial markets came close to a collapse, the week ahead is likely to bring some good news.

We expect the U.S government intervention plan to be announced earlier in the week and a number of testimonies by the U.S. Secretary of Treasury and the U.S. Federal Reserve to clarify their initiatives to fight the global credit crunch. It will be also a busy week in the Euro zone. It is expected that the Services- and Manufacturing PMI along with German IFO Business climate survey will point to further contraction in business activity. In United Kingdom, BBA loans for house purchases and Nationwide house price index may show further downside in the property space. Furthermore, three BoE speeches may provide some information about the BoE rates policy. In Canada, inflation figures are likely to show a slight increase in both CPI and core CPI in August. In Japan, inflation is expected to ease slightly. Finally, in New Zealand, Q2 GDP is likely to stay at at -0.3%q/q as the economy continues to contract.

Anna Fedec
9/20/2008 2:25:37 PM