Archived IMT (2008.12.09)

JPY crosses push back up as risk appetite curtails some of yesterday's gains in the aftermath of a gloomy report from the British Retail Council. All stock futures are down across the board. Germany's December ZEW survey is due at 10 am GMT expected to show renewed declines (-57.5 from -53.5) and (-60 from -50.4) after a surprising improvement in November. BANK OF CANADA interest rate decision (2 pm GMT) widely expected to produce a 50-bp rate cut to 1.75%.