Recap 3-13-13

~ globalmacrotrading

Commentary:

None

Notable:

  • US Headline Retail Sales rose 1.1% MoM in Feb vs 0.5% exp and 0.1% prev. The control figure rose 0.4% vs 0.2% exp and 0.1% prev, which was revised higher to 0.3%.
  • Overnight the PBOC governor said he was on “high alert” over rising price pressures (he added that the nation’s monetary-policy stance is “no longer relaxed” and is “neutral”).
  • the US Dept of Agriculture is considering buying ~400K tons of sugar to help provide support to sugar processors. The action is aimed at supporting falling sugar prices. 400K tons would allow the government to make 142B Hershey Kisses – WSJ

Upcoming Data:

  • Thu : Canada New Housing Price Index, US Jobless Claims,
  • Fri : EU CPI, US Empire Mfg
  • Mon : US NAHB Index
  • Tue : UK CPI, German Zew, US Housing Starts
  • Wed : BoE Minutes, FOMC, UK Jobless Claims, Japan Trade Balance, China HSBC Flash Mfg PMI

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I am a G20 Global Macro Portfolio Manager in NYC. My background includes stints at a major investment bank, a commodities market maker, and one of the world's largest global macro hedge funds.