Quick Overview

• U.S. government is lowering the capital requirements for Fannie Mae and Freddie Mac from 30% to 20% in an attempt to provide more liquidity to the mortgage market.
  

• Gold fell after the Fed reduced the Fed Fund Rate less than expected and signaled more cuts won't be as aggressive.
  

• Canada's wholesale sales rose 2.6%.
  

• Construction output in the Euro area rose 1.6% MoM and 1.6% YoY.
  

• The U.S. Department of Energy said:
  Supplies of crude oil supplies rose 200,000 barrels to 311.8 million barrels
  Supplies of gasoline fell 3.5 million barrels
  Supplies of heating oil fell 3.2 million barrels.
  Refinery use fell from 85.0% to 83.8%.
  Gasoline demand fell 0.1% YoY
  Distillate demand fell 5.4% YoY