Here's our summary of key events over night that affect New Zealand, with news China is back from its national holiday having spent up large during it.
But first in the US, data released overnight shows first-time buyers rushed into the market in 2017, making 38% of all American single-family home purchases, the biggest share since 2000. The 2.07 mln new or existing homes bought by first-timers was +7% more than in 2016.
Meanwhile, filings for unemployment benefits fell to a five-week low, suggesting tightening in a labor market already operating near full capacity.
Wall Street rose for the first time in three days even as most global gauges slumped in the wake of Federal Reserve minutes that seemed to boost the prospect of tighter monetary policy. The dollar fell as Treasuries rose. And Chinese markets rose on the first day back from their week-long Spring Festival holiday. Retail and restaurant businesses did US$146 bln in sales during the week-long national holiday, up by +10.2% from the same holiday a year before.
And China has stopped updating its homegrown version of the VIX Index, taking another step to discourage speculation in equity-linked options after authorities tightened trading restrictions last week.
In Canada, there was an unexpected fall in retail sales for them in December.
In Germany, their respected IFO business sentiment index fell more than the minor flattening that was expected
The ECB released minutes of its last policy review meeting and that revealed that they are watching with concern the growing beggar-thy-neighbour policies out oif Washington.
In Australia, their banking Royal Commission published an issues paper on the mortgage broking industry, clearly signalling that this sector is also up for scrutiny.
In New York, the UST 10 yr yield is marginally higher that at this time yesterday at 2.92%. After the US Fed minuites were released yesterday it did rise to 2.95% at one point.
The gold price is up +US$2 to US$1,330/oz.
Oil prices are up strongly today by more than +$US1, with the US benchmark now just under US$63/bbl and the Brent benchmark under US$66.50/bbl.
The Kiwi dollar is little changed this morning at 73.5 USc. On the cross rates we are up at 93.6 AUc and holding at 59.6 euro cents. That leaves the TWI-5 virtually unchanged at 74.5.
Bitcoin is down under US$10,000 again and now at US$9,853. That is a -7% fall from this time yesterday and recall yesterday fell -9.8% from the day before.
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The easiest place to stay up with event risk today is by following our Economic Calendar here ».