As the US hit their screens we’re still looking a little nervous in markets. With the main data point being another round of housing numbers, which have shown signs of trending weakness, we may be looking for a trigger to see some bigger moves.
Housing starts for Jan are at the bottom of the hour and the market is looking for 0.950m vs 0.999m prior with building permits at 0.980m vs 0.991m in Dec. Anything down towards the low 0.9 level could see the dollar take a tumble, but bear in mind that we’re likely to get the weather thrown out as a reason.
We also have PPI final demand data up too.
Adam is back in today and is in a pretty chipper mood as his mob have just turned ours over at curling.
