Biggest % gainers: USD/CAD up 0.91%, USD/CHF on USD strength.
Biggest % losers:here's where the momentum is at (to the down side) AUD/JPY down 1.96%, GBP/JPY down 1.74%, CHF/JPY down 1.52%, EUR/JPY down 1.45%, on some serious JPY strength.
Japans sovereign credit rating outlook was lowered (cut to "negative") by Standard and Poors on concern Prime Minister Yukio Hatoyamas administration lacks a plan to rein in the worlds largest debt load.
Annual "World Economic Forum" starts on Wednesday and goes through the weekend.
The World Economic Forum annual meetings are held in Davos and attended by central bankers, prime ministers, finance ministers, trade ministers, and business leaders from over 90 countries. Most meetings are open to the press and officials usually talk with reporters throughout the day. Comments from central bankers and other influential officials can create significant market volatility.
Fed Weighs Interest on Reserves as New Benchmark Rate.
EUR German IFO Business Climate better at 95.8 vs. 95.2 expected.
GBP Preliminary GDP q/q worse 0.1% vs. 0.4% expected.
USD S&P Case-Shiller Home Price Index declines to -5.3% vs. 0.4% expected.
USD CB Consumer Confidence numbers come out at 10am EST today. Expectation 53.6
AUD CPI q/q comes out at 7:30pm EST tonight. Expectation is 0.4%.
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