Weak internals of the market as crude oil breaches $80. Vols are winding down again in FX as we await the 800 pound gorilla to enter and kick the bulls' teeth in. I've gone from denying any links to 1987 to actually seeing some sort of pattern. The trigger, of course, will be the Fed's rate announcement on Tuesday. Anything short of a 50 bp cut will severely beat up the tape and hurt carry trades.

Still long USD against EUR and CAD. Having a look at GBPCHF intraday.

Today's data (GMT):

0030 Australia September consumer inflation expectations

0130 Australia Q2 dwelling starts (1.3%)

0400 Japan August Tokyo-area condominium sales (-10.0% y/y)

0600 Luxembourg European Central Bank member Mersch speaks

0630 France August Bank of France business sentiment

0645 France August consumer price index (1.1% y/y)

0645 France August consumer price index, harmonized (1.2% y/y)

0645 France Q2 non-farm payrolls (0.0% q/q)

0800 Eurozone September European Central Bank monthly bulletin

0800 Italy August consumer price index (1.6% y/y)

0800 Italy August consumer price index, harmonized (1.7% y/y)

0900 Eurozone Q2 employment rate (1.4% y/y)

1200 CH Swiss National Bank interest rate decision

1230 US Weekly initial jobless claims (318,000)

1230 US Continuing jobless claims (2.598 million)

1230 Canada Q2 capacity utilization (83.0%)

1800 NZ Q2 manufacturing activity (0.8%)

(Source: GCI Financial)

I hope I never make it on to this list: http://northxeast.com/blogging/nxes-fifty-most-influential-bloggers/

In the words of Joseph C. Lewis: ''I really feel that if one is successful, one of the rewards of your success is the quiet enjoyment of it,''

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