Banks and government offices are closed in the US and Canada today for Remembrance Day so there’s no economic or corporate news scheduled and markets here have been pretty quiet so far this morning. Traders continue to digest the big rallies in US indices and USD of the last few weeks and may position today on anticipation of a pickup in news flow later in the week. JPY is getting slammed down again on confusion over whether the next proposed sales tax increase could be delayed or spark a snap election. Lower than expected consumer confidence hasn’t helped JPY’s cause either. Moderate gains in USD this morning have knocked gold and Brent crude back a bit while WTI is pretty much flat so far. Resource currencies are mixed today with the oil sensitive CAD and NOK underperforming while SEK, AUD and NZD are among the strongest performing currencies. RUB is down over 2% with the Russian government apparently having given up trying to control the currency’s slide with tensions rising in Ukraine again and the possibility of more sanctions of matters re-escalate. Corporate News DR Horton $0.45 vs street $0.48 Economic News Economic reports released overnight and this morning include: Japan consumer confidence 38.9 vs previous 40.5 Australia house prices 9.1% vs previous 10.1% Australia business conditions 13 vs previous 1 Sweden unemployment rate 4.2% vs street 4.1% Sweden consumer prices (0.1%) vs street (0.2%) Economic reports due later today include: There are no major announcements scheduled for North America today.