The week ahead 21-25.09.2015
A new week has begun. Tsipras has won again after the elections in Greece as Syriza won the contest with 35.5% share of the votes against their opponent in the center-right New Democracy party with 28.2%. In his victory speech Tsipras told: "The mandate that the Greek people have given us is a crystal clear mandate to get rid of the regime of corruption and vested issues. We will show how effective we will be. We will make Greece a stronger place for the weak and vulnerable, a fairer place". Words to live by and words Tsipras will have to hold to with his actions as a new page begins for Greece, but still in the same book called "Debt and Prejudice", but with a new paragraph - Refugee Crisis which he will have to tackle with also. And as much as an optimistic I want to be I think that Greece will come down again in-to an economic limbo with its creditors and will loose whatever control of the refugees. Time and Tsipras's actions will tell.
In economic fundamentals for 21.09 we have data coming in for German PPI, CAD Wholesale Sales, USD Existing Home Sales, FOMC Lockhart speaking, and Bank of Canada's Gov Poloz speaking.
22.09.2015 will bring us news for China's CB Leading Index, Switzerland's Trade Balance, GBP Public Sector Borrowing, CBI Industrial Order Expectations, USD HPI, EUR Consumer Confidence, USD Richmond Manufacturing Index and lastly for GBP - MPC member Shafik speaking.
23.09.2015 will be starting again with FOMC member Lockhart speaking, and AUD CB Leading Index, CNY Caixin Flash Manufacturing PMI, EUR French Flash Manufacturing, French Flash Services PMI, EUR German Flash Manufacturing PMI, German Flash Services PMI, EUR Flash Manufacturing PMI, Flash Services PMI, CAD Core Retail Sales, CAD Retail Sales, CHF SNB Quarterly Bulleting, USD Flash Manufacturing PMI, USD Cured Oil Inventories, GBP MPC member Broadhent speaking and again FOMC member Lockhart speaking.
24.09.2015 As the week ends for Thursday we have NZD Trade Balance, JPY Flash Manufacturing PMI, EUR GfK German Consumer Climate, EUR German IFO Business Climate, GBP BBA Mortgage Approvals, EUR Italian Retail Sales, EUR Targeted LTRO, USD Core Durable Goods Orders, USD Unemployment Claims, USD Durable Goods Orders, EUR Belgian Business Climate, USD New Home Sales and USD Natural Gas Storage.
25.09.2015 An in the final day of the week: Fed Chair Yellen will have a speech, JPY Tokyo Core CPI, National Core CPI, SPPI, EUR German Buba President Weidmann speaks, EUR M3 Money supply, Private Loans, GB FPC Statement, USD FInal GDP, Final GDP Price Index, USD Flash Services PMI, USD Revised UoM Consumer Sentiment, Revised Inflation Expectations, EUR Buba's Weidmann speaking again.
Its gonna be a really busy week. The main focuses will be on China, Europe and US (not that this surprises anyone) as we have important data for GDP and manufacturing in all of the three economies. I am expecting strong volatility ahead around the news so be careful. At least - Greeks made their choice again and I think it was the right one as for a non-so-obvious-and-string-corrupted government.
Trade safe and with discipline and I wish you a successful week.