Today

Overview

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The Bank of Korea softened yesterday's dollar comments by saying that even though they want to diversify into other currencies, they have no plans to "sell" U.S. dollars "at this time".
As Carl Weinber, chief economist for High Frequency Economics put it in the Wall Street Journal this morning, "People are terrified of central-bank diversification." But their really big fears are about Japan and China. Between them, they have over $1.4 trillion in reserves.
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U.S. consumer prices were up 0.1% in January and up 3.0% from a year ago. The core rate was up .2% in January and up 2.3% from a year ago. The data showing tame inflation provided a modest lift for stock-index futures, after a dramatic decline yesterday.
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Minutes from the Federal Reserve's latest FOMC meeting find members supporting the current policy of measured increases in the federal funds rate and expecting inflation to remain low and manageable.
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A cold front that will reach the southern soybean-growing states of Rio Grande do Sul and Parana this weekend won't eliminate the current drought in the region, according to the local Somar Meteorologia weather service.
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A World Health Organization official warned that health agencies need to prepare to contain the spread of avian flu, saying that the flu could soon become more deadly than SARS. The spread of bird flu has been a factor leading to higher pork demand.
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Ifo's index of business confidence in Germany dropped from 97.5 to 95.5 in February.
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YoY Japan's exports increased 3.2% in January while imports were up 11.6%.
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Lumber futures are in new contract high. And so is Coffee.
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Bush May Have Smoked Marijuana - Ohhhhhhhhh Nooooooooooo! But perhaps he was just worried about Alzheimer's
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