ISM manufacturing 49.6 vs 50.0 exp
US July construction spending -0.9% vs +0.4% exp
Markit US PMI 51.5 vs 51.9 prelim
UK services PMI leaks early, 53.7 vs 51.1 exp
ECB's Asmussen: ECB ready to regulate banks if certain conditions met
Bank of Italy: Spreads should be 225 bp lower
Monti: Countries that have met obligations should be helped with excessive bond spreads
Greek PM to meet Draghi September 11
Spain 2yr yields -44 bps to 3.01%
S&P 500 down 0.1% to 1405
CAD leads, NZD lags
EUR/USD was choppy in US trading after slumping in European trading. The pair jumped to 1.2598 when yesterday's Draghi comments re-ran and caught some off guard. Afterwards it drifted down to 1.2564. Small stops below 1.2550.
Cable ran into resistance in Europe at the late-Aug high of 1.5912 and that level held a second time when the UK services PMI was leaked a day ahead of time.
USD/CAD was similar, hitting old support (nearly to the pip) for the third time. The key level was 0.9842 but USD/CAD was reluctant to break it ahead of tomorrow's BOC decision. Resistance at 0.9950.
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