Here's my summary of the key news overnight in 90 seconds at 9 am, including news of some vigorous policy tussles worldwide.
But first, US initial unemployment claims data for last week came in well below what markets were expecting - again - pointing to a steadily improving jobs market in the US. However, the October durable goods report was not so good, falling 2% and below what economists were expecting. More recent factory guages have been more positive however.
American financial markets are now closed for their long Thanksgiving weekend. Their focus is now on shopping!
German consumer sentiment looks like it is improving and the latest reading came in above forecasts.
Meanwhile, Italian senators have just voted to expel three-time former prime minister Silvio Berlusconi from parliament due to his criminal conviction for tax fraud, in a momentous round of voting.
The European Central Bank said in its financial stability report out overnight that the risks from global market turbulence has increased in the past six months, even as measures of systemic stress have declined. Fed tapering really concerns them.
And the IMF is thinking about shifting its view on bailouts - but banks and governments are resisting the changed approach. There is much soul-searching at present, and it appears to be a preparation for the next big crisis.
Across the ditch, they are embroiled in another foreign policy problem. This time China is upset with the new Aussie government over its support for the US and Japan over some uninhabited islands. China is a tough trade partner.
The price of Bitcoin rose above US$1,000 on a big online exchange, fueled by speculators snapping up the virtual currency as it gains wider acceptance. Meanwhile, the price of gold is falling and dipped below US$1,240/oz earlier this morning.
The NZ dollar starts today a bit lower at 81.3 USc, 89.6 AUc, and the TWI is at 76.5. The NZD:UKP exchange rate has fallen below 2:1 first time in over three months.
The easiest place to stay up with today's event risk is by following our Economic Calendar here »
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