Quick Overview

• The U.S first time claims for unemployment benefits rose by 25,000 to 410,000 -- a bit worse than expectations.

• The manufacturing activity in the Philadelphia region reached its highest level in seven years last month.

• The U.S CPI rose a 0.4% in January and 1.6% Yoy. Food is up 1.8% YoY, energy is up 7.3%. Gasoline is up 13.4% YoY. Excluding food and energy the index was 1.0% YoY.

• China is contemplating the possibility of cutting import taxes to increase imports so that they can increase the supplies of food commodities.

• YoY foreign direct investment to China rose 23.4% to $10 billion in January.

• The cotton market locked the 700 point limit today -- reaching a record high of $2.04.

• Israel's economy rose 7.8% in Q4 of 2010

• Russia's unemployment rose to 7.6 % in January

• Eurozone construction fell 1.8% in December 2010

• Brazil's GDP rose 7.8% in 2010.

• The FT reports that mints are running out of silver and have started to ration coins. (check the silver lending rate on that page )

• Hanjin Shipping, the world's ninth biggest container shipper, predicted global container shipments would grow up to 8% this year.

• U.S. exports of steelmaking coking coal rose to 55 million tons in 2010, the highest level since 1991.

• Coal will continue to play an important role as an energy commodity in the coming years, with worldwide demand only likely to peak in 2020, Mr Philip Lowe the European Commission’s director general for energy said.