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Tankan report expected to make sombre reading.
By admin || September 30, 2008 at 18:13 GMT
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The latest Japanese Tankan report (Q-3) is out overnight (23:50 gmt) and is expected to make sombre reading. It is widely expected headline business sentiment will have turned negative for the first time in five years, confirming a stagnating economy. The median market forecast is calling for large manufacturers index to fall to -2 from 5, and large manufacturers outlook to fall to -3 from 4.
Full slate tomorrow as well for the EU with GER retail sales, EU mfg PMI and Trichet speaking and then the ADP payrolls number and mfg PMI’s for the US as well. Throw in Fed speakers, Finmin’s and who knows what else and it should be another day of gamesmanship.
Dead on with the call for dreadful #’s, Gerry. Sharp spike in Yen crosses the result.