Here's my summary of the key news overnight in 90 seconds at 9 am, including news of a serious shooting incident in Canada's parliament buildings in Ottawa.
In business news, American securities regulators adopted a rule earlier today designed to avert another financial crisis, but two officials dissented (and here), saying it did not do enough to discourage banks from lending to borrowers with dodgy credit and then passing the mortgage risk to investors.
US consumer prices rose +1.7% year-on-year to September which was fractionally more than was expected but about the same as for August. A rise in food and housing costs offset a decline in energy prices.
More impressive however was the rise last week of American mortgage applications. They rose almost 12% in a week. It was refinancing that drove these results, up +23% in a week. These are the strongest levels since early 2013.
It is looking like only about 20 countries have signed up for China's big new infrastructure bank, the AIIB. US lobbying against it has been stiff. China has given Australia a 48 hour ultimatum to sign, putting them in a difficult position in the middle of their FTA negotiations.
In Australia, consumer prices were reported +2.3% pa higher in the September quarter, as rises in the cost of fruit, houses, property rates, and vehicle charges were offset by falls in electricity and petrol. That was down sharply from the +3.0% pa in the June quarter, due in large part to the removal of their carbon taxes following their election.
New Zealand's CPI data is due out later this morning.
Stocks are in losing territory in mid afternoon trade in New York. In Europe, stocks are higher in a small rally driven by an expected ECB bond buying program.
UST 10yr yields are up slightly again to 2.23%.
The oil price has fallen overnight and is now under US$81/barrel with the Brent price now under US$85/barrel.
The gold price is also down, now at US$1,244/oz, unable to maintain its recent gains.
We start today with our currency just a little lower. The NZD is at 79.4 USc, at 90.4 AUc, and the TWI is at 77.2.
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 »
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.