Apple’s new product event starts today at 10:00 am PDT, 1:00 pm EDT, 6:00 pm BST. The company is widely expected to launch the iPhone 6 and iWatch products today and the pressure is on. Having rallied for much of the last four months, high expectations have been priced in. Last week’s selloff after Samsung revealed two new competitive Galaxy Smartphone offerings indicates that some shareholders may be ready to take profits against the news if Apple doesn’t deliver. This event provides an initial opportunity for trading with more action possible around the actual launch date, likely later next week. Because Apple has a large weighting in the NASDAQ 100 that index may also be active off the Apple news along with competitors like Blackberry. USD has continued its relentless rise overnight on reports that the Fed may have plans to raise interest rates more aggressively once it gets started than the street is currently expecting. USD is trading at the top of its league with the resource dollars (CAD, AUD and NZD) down the least and EUR is down the most. Gold and silver are bouncing back a bit from yesterday’s big drops. GBP has stabilized a bit today after Bank of England Governor Carney suggested he could raise interest rates before next year’s UK election. Before anyone thinks about that though, focus is likely to remain on next week’s Scottish independence vote which could impact trading for some time. Economic News Economic reports released overnight and this morning include: Canada housing starts 192K vs street 195K UK same store sales 1.3% vs street 0.3% UK trade balance (£3.3B) vs street (£2.3B) UK industrial production 1.7% vs street 1.3% UK manufacturing production 2.2% as expected Greece industrial production (2.1%) vs previous (6.7%) Australia NAB business confidence 8 vs previous 11 Australia NAB business conditions 4 vs previous 8 Australia home loans 0.3% vs street 1.0% Japan consumer confidence 41.2 vs street 42.3 Economic reports due later today include: 3:00 pm BST UK GDP estimate previous 0.6% 1:00 pm EDT Apple new product launch event