Here's my summary of the key news overnight in 90 seconds at 9 am, including news from China today.
Unaware of the obvious irony, leaders at yesterday's start of China's 'Third Plenum' meetings have promised to allow the markets to play a "decisive role" in the world’s second largest economy - and then they appointed a top level 'committee' centralising the powers to achieve their goals.
They have set 2020 as the deadline for getting results from these changes - and a specific public date is an unusual benchmark by Chinese authorities.
More worrying, they also appointed another high-level committee to oversee the tightening of social controls - especially of the media and communications - in a bid to constrain the coming unrest as the various 'reforms' are pushed through. Stress points will not only be within China itself, but Hong Kong and Taiwan are starting to feel the strains too.
European Union negotiators in Brussels have clinched a deal on the 2014 EU budget after grueling talks; and cutting spending by about 6% compared to 2013. Still, about two-thirds of the €135.5 bln budget will go on subsidies for farmers and on development projects in the EU's poorer regions, as in previous years. But the spending on such projects is being cut by about €7 bln.
In a surprise move overnight, Indonesia's central bank raised its benchmark rate to the highest in four years, in a bid to shield the economy from expected market turbulence when the Fed begins to wind back its easy monetary policies.
In Australia, their new prime minister has conceded that AU Govt debt will surge higher, past AU$400 bln as they prepare to raise their debt ceiling to AU$500 bln.
At 9am this morning the RBNZ will make its Financial Stability Report public. Bernard Hickey will be there covering this and Governor Wheeler's testimony at Parliament this afternoon.
The NZ dollar starts today at 82.1 USc - a new two month low - 88.3 AUc, and the TWI is at 76.9
The easiest place to stay up with today's event risk is by following our Economic Calendar here »
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.