Here's my summary of the key news overnight in 90 seconds at 9 am, including news of weak jobs growth in the US.
Their payroll data underwhelmed on Saturday. The US economy added a weaker-than-expected 113,000 jobs in January while the unemployment rate fell to 6.6% and closer to the Fed's target. Their important (and low) participation rate edged up to 63.0%.
However, the US added 2.3 million new jobs in the 2013 year in revised data also released. It is this growth in paid employment that cheered markets and overrode the concerns about the low January numbers.
Meanwhile, US productivity rose strongly in data released a day or so earlier, up 3.2%. Together it is evidence their economy is growing faster than jobs as capital investment is driving their growth.
In Europe on Saturday, a German court has sided with the Bundesbank against the ECB on the legality of the bond buying plans of Mario Draghi. However, they deferred the final decision to a higher EU court. We will have more on this in today's Top 10.
More details will be in Top 10 in another weekend decision; the Swiss seem to have voted in a ultra right-wing party's immigration-limiting referendum.
There will be reverberations across Europe after this result.
The week finished in New York on Friday with rises to equities, to oil which was up US$2/ barrel, and to gold.
The NZ dollar is also up and starts today at 82.9 USc, up to against the Aussie at 92.5 AUc and the TWI is now at 78.1.
If you want to catch up with all the changes on Friday, we have an update here.
The easiest place to stay up with today's event risk is by following our Economic Calendar here »
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