Forex News: Australian Employment Data Strong, Asian Stocks Plummet Overnight


[U][B]Fundamental Headlines[/B][/U]

• [B]AUDUSD[/B] – The Australian labor market tightened further in October as the employment level climbed by 12,900, marking the twelfth consecutive monthly increase and supporting the case for the RBA’s recent hike to 6.75 percent.
• [B]USDJPY[/B] – Japanese machine orders plummeted 7.0 percent from a year earlier, suggesting that companies are cutting back on investment amidst softer demand from the US.
• [B]USDCHF[/B] – The Swiss unemployment rate fell to a seasonally adjusted five-year low of 2.6 percent in October as companies work to keep up with growing orders from the Euro-zone – the country’s biggest trade partner.
• [B]GBPUSD[/B] – The Bank of England left rates steady at 5.75 percent in line with expectations. The minutes of the meeting will be released on November 21st.
• [B]EURUSD[/B] – The European Central Bank is expected to leave rates unchanged at 4.00 percent at 7:45 EST, but traders will be honing in on ECB President Jean-Claude Trichet’s commentary at 8:30 EST for signs of an impending rate hike.

• [I]Stock markets in Shanghai and Hong Kong Hit Hard in Asia on Thursday[/I] (link) - The Wall Street Journal
• [I]Japan’s Merchant Sentiment Falls to Four-Year Low /I - Bloomberg
• [I]U.S. Orders New China Toy Recall[/I] (link) - The Wall Street Journal
• [I]Morgan Stanley Joins Citigroup and Marks Down $3.7 Billion, Cuts Outlook[/I] (link) - Bloomberg
• [I] Australia Posts Longest Run of Jobs Gains in 12 Years /I - Bloomberg
• [I] Toll Brothers Revenue Falls as Demand for Homes Drops[/I] (link) - Bloomberg