Frontrunning: November 16

Frontrunning: November 16

Submitted by Tyler Durden on 11/16/2010 08:27 -0500

• Meet the new reserve currency: Global Power, Influence Shifting From US To China (WSJ)
• IMF Lowers Dollar, Yen Weights in Its SDR Valuation Basket, Increases Euro (Bloomberg)
• Liesman with another hilarious interview: Fed Easing Is Not Aimed at Weakening US Dollar says ex-Goldmanite and current New York Fed president Dudley (CNBC)
• China May Raise Interest Rates Several More Times, Fidelity's Bolton Says (Bloomberg)
• China Selling Stockpiled Pork, Sugar to Cut Prices (BusinessWeek)
• Revaluation pressures on emerging markets (FT)
• Eurozone Members Pressed on Debt Plans (FT)
• Ireland's Cowen to Weigh EU Steps to Shore Up Banking System (Bloomberg)
• Merkel Resilient in Face of European, ECB Opposition to Debt-Crisis Plan (Bloomberg)
• Fed's Yellen Defends Bond-Purchase Plan  (WSJ)

Economic highlights:

• Euro-Zone 25 New Car Registrations for October -16.6%. Previous -9.6%.
• Euro-Zone CPI - Core for October 1.1% y/y - higher than expected.Consensus 1.0% y/y. Previous 1.0% y/y.      
• Euro-Zone CPI for October 0.4% m/m 1.9% y/y - in line with expectations. Consensus 0.3% m/m 1.9% y/y. Previous 0.2% m/m 1.9% y/y.     
• Euro-Zone ZEW Survey (Econ. Sentiment) for November 13.8 - higher than expected. Consensus 2.0. Previous 1.8. 
• Germany ZEW Survey (Current Situation) for November 81.5 – higher than expected. Consensus 75.0. Previous 72.6.
• Germany ZEW Survey (Econ. Sentiment) for November 1.8 - higher than expected. Consensus -6.0. Previous -7.2.  
• France Non-Farm Payrolls for Q3 0.3% - higher than expected. Consensus 0.2%. Previous 0.2%.   
• Italy CPI (NIC incl. tobacco) for October 0.2% m/m 1.7% y/y – in line with expectations. Consensus 0.2% m/m 1.7% y/y. Previous 0.2% m/m 1.7% y/y.     
• Italy CPI - EU Harmonized for October 0.7% m/m 2.0% y/y – in line with expectations. Consensus 0.7% m/m 2.0% y/y. Previous 0.7% m/m 2.0% y/y. 
• UK DCLG UK House Prices forSeptember 6.1% y/y. Previous 8.1%.
• UK CPI for October0.3% m/m 3.2% y/y - higher than expected. Consensus 0.2% m/m 3.1% y/y. Previous 0.0% m/m 3.1% y/y. 
• UK Core CPI forOctober 2.7% y/y - higher than expected. Consensus 2.6% y/y. Previous 2.7% y/y.
• UK Retail Price Index for October225.8 - lower than expected.Consensus 226.0. Previous 225.3.
• UK RPI for October 0.2% m/m 4.5% y/y - lower than expected. Consensus 0.3% m/m 4.6% y/y. Previous 0.4% m/m 4.6% y/y.  
• UK RPI Ex Mort Int. Payments for October4.6% y/y – in line with expectations. Consensus 4.6% y/y. Previous 4.6% y/y. 

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Feed: zero hedge
Posted on: Tuesday, November 16, 2010 02:28 PM
Author: Tyler Durden
Subject: Frontrunning: November 16

Meet the new reserve currency: Global Power, Influence Shifting From US To China (WSJ) IMF Lowers Dollar, Yen Weights in Its SDR Valuation Basket, Increases Euro (Bloomberg) Liesman with another hilarious interview: Fed Easing Is Not Aimed at Weakening US Dollar says ex-Goldmanite and current New York Fed president Dudley (CNBC) China May Raise Interest Rates Several More Times, Fidelity's Bolton Says (Bloomberg) China Selling Stockpiled Pork, Sugar to Cut Prices (BusinessWeek) Revaluation pressures on emerging markets (FT) Eurozone Members Pressed on Debt Plans (FT) Ireland's Cowen to Weigh EU Steps to Shore Up Banking System (Bloomberg) Merkel Resilient in Face of European, ECB Opposition to Debt-Crisis Plan (Bloomberg) Fed's Yellen Defends Bond-Purchase Plan  (WSJ) Economic highlights: Euro-Zone 25 New Car Registrations for October -16.6%. Previous -9.6%. Euro-Zone CPI - Core for October 1.1% y/y - higher than expected.Consensus 1.0% y/y. Previous 1.0% y/y.       Euro-Zone CPI for October 0.4% m/m 1.9% y/y - in line with expectations. Consensus 0.3% m/m 1.9% y/y. Previous 0.2% m/m 1.9% y/y.      Euro-Zone ZEW Survey (Econ. Sentiment) for November 13.8 - higher than expected. Consensus 2.0. Previous 1.8.  Germany ZEW Survey (Current Situation) for November 81.5 – higher than expected. Consensus 75.0. Previous 72.6. Germany ZEW Survey (Econ. Sentiment) for November 1.8 - higher than expected. Consensus -6.0. Previous -7.2.   France Non-Farm Payrolls for Q3 0.3% - higher than expected. Consensus 0.2%. Previous 0.2%.    Italy CPI (NIC incl. tobacco) for October 0.2% m/m 1.7% y/y – in line with expectations. Consensus 0.2% m/m 1.7% y/y. Previous 0.2% m/m 1.7% y/y.      Italy CPI - EU Harmonized for October 0.7% m/m 2.0% y/y – in line with expectations. Consensus 0.7% m/m 2.0% y/y. Previous 0.7% m/m 2.0% y/y.  UK DCLG UK House Prices forSeptember 6.1% y/y. Previous 8.1%. UK CPI for October0.3% m/m 3.2% y/y - higher than expected. Consensus 0.2% m/m 3.1% y/y. Previous 0.0% m/m 3.1% y/y.  UK Core CPI forOctober 2.7% y/y - higher than expected. Consensus 2.6% y/y. Previous 2.7% y/y. UK Retail Price Index for October225.8 - lower than expected.Consensus 226.0. Previous 225.3. UK RPI for October 0.2% m/m 4.5% y/y - lower than expected. Consensus 0.3% m/m 4.6% y/y. Previous 0.4% m/m 4.6% y/y.   UK RPI Ex Mort Int. Payments for October4.6% y/y – in line with expectations. Consensus 4.6% y/y. Previous 4.6% y/y.

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