US Beige Book Details

14:00 EDT Beige Book details are as follows: Wage gains are moderate, growth is contained as moderate, housing sector is a drag, energy prices are an issue for consumers, wage pressures are contained, manufacturing has found a base, overall moderate is the key word, consumer spending is lower. The economy has slowed to a pace that inflation is not an issue, but the housing problems and mortgage payments may weigh going into the end of the year. 11:00 EDT The Fed Beige Book information is released at 14:00 today and will reveal the details that the FOMC will debate at the next policy meeting in two weeks time. 10:30 EDT Oil Inventories were reported lower today, as expected, at -1.1m barrels. Natural Gas numbers were higher. 10:00 EDT US Existing Home Sales, expected in at 5.87m units, came in at 5.75m., lower by 3%. Median prices rose slightly but inventories are still sitting at over 8 months of supply. Rental property numbers increased, the yearly figures are 11% lower than last year. A near-term bottom may have been found on the $, tomorrows New Home Sales will be important, bearing in mind a lot of bad news is already in the currency valuations. 09:30 EDT Global Equity Markets have contained the selling from Tuesday and are looking at Earnings to steady the ship today.09:00 EDT The European ‘Global Commentary’ has an in-depth look at the overnight trading session, and what to expect from today.