Why the GBP fell and JPY gained some overnight: European stocks fell and the pound weakened for the first time in six days against the dollar after Qatar said it plans to sell almost $2.3 billion of Barclays Plc shares. The yen rose as Japanese Finance Minister Hirohisa Fujii repeated his reluctance to curb the rally.
USD Building Permits slightly worse 0.57M vs. 0.59M expected and 0.58M last time
USD PPI m/m worse at -0.6% vs. 0.1% expected and 1.7% last time. Much lower than previous month.
Canada's rate decision: rates unchanged at 0.25% (as expected). CAD sells off on the news, boosting USD/CAD and causing CAD/JPY to plummet.
BOC MAINTAINS 3.0% GDP FORECAST FOR 2010. EXPECTS INFLATION TO RETURN TO 2% TARGET IN SECOND QUARTER OF 2011.
CANADA: BOC REITERATES IT STILL HAVE FLEXIBILITY TO MANAGE POLICY. LOWERED 2011 GROWTH FORECAST TO 3.3% FROM 3.5%.
CANADA: BOC SAYS INFLATION RISKS ARE TILTED SLIGHTLY DOWNWARDS. PLEDGES TO KEEP RATES AT 0.25% THROUGH JUNE 2010.
CANADA: BOC FORECASTS GDP TO CONTRACT 2.4% IN 2009 VERSUS AN INITIAL FORECASTS FOR A 2.3% DROP. GLOBAL DEVELOPMENTS ARE BETTER THAN IN JULY
11am EST FOMC Warsh speaks: Due to participate in a panel discussion about the financial crisis at the Federal Reserve Bank of San Francisco Asia Economic Policy Conference, in Santa Barbara.
3:15pm EST today BOE's Gov. King speaks.
Apple stock soared in after market yesterday as they beat earnings. The shares went to an all time high.
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