Here's my summary of the key news overnight in 90 seconds at 9 am, including news the Fed has given no new signals.
The US Federal Reserve announced no changes after the latest meeting of its policy-making committee this morning and offered no indication how soon it might start to reduce its monthly bond purchases.
The bond buying continues, the taper policy is a way off yet, but they are showing signs of worry about deflation.
At a meeting yesterday, President Obama reportedly mentioned three names of people who may replace Ben Bernanke. Two were the widely touted Larry Summers and Janet Yellen; but there was a third name: Donald Kohn, a long-time Fed insider.
Immediate market reactions to the Fed have been very muted. Gold lost some ground, but other markers are pretty much unchanged.
There was more reaction to the better-than-expected 1.7% rise in US GDP in the June quarter, up from 1.1% in the first quarter. However, whatever way you look at it, it is still pretty lacklustre.
In Britain, ex ASB executive Ross McEwan has won the top role at giant bank RBS, his job now to guide this damaged institution back out of its state-controlled bailed-out status.
And news for those of you who follow peak oil; The Oil Drum is closing down. However, oil prices rose slightly, while US crude inventories came in higher than expected for July.
The NZ dollar opens at 79.6 USc, the Aussie dollar continues its slide and is now at 88.8 AUc, and the TWI is at 75.4.
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