Skol, that was yesterdays news, todays news is building permits...

Skol, that was yesterdays news, todays news is building permits and the red survey... the market does not dwell on the past... However, if you read the speech itself he says that there is an absence of meaningful inflation and that warrants dovish inaction. He goes onto say that he sees rates being risen next year.

On the plus side of data from Europe... the EU's balance of trade comes out today and so does the UK's inflation data. The UK are the second largest economy in the Euro zone so less emphasis will be placed on it. But there is an uptrend in the Euro Zones trade surplus so that news will be a welcome relief. The bourses will go up tonight if not today, (I havent looked closely at the time differences). And in a culmination of interest rate jitters and a property market that is on life support, the dollar may weaken. The data itself is not that crucial and is definitely not the premier barometer so I see ambivalence with American investors and traders. It is a slow day for gold.