[U][B]Fundamental Headlines[/B][/U]
• [B] USDJPY[/B] – The Bank of Japan’s October meeting minutes showed that the policy board reaffirmed that it should raise interest rates gradually in line with economic growth and the outlook for inflation to prevent misallocation of resources.
• [B]USDCHF [/B]– Swiss retail sales jumped a seasonally adjusted 7.1 percent in September from a year earlier - the strongest reading since May - as consumption and domestic demand remains resilient.
• [B]EURUSD [/B]– The Euro-zone trade balance was better than expected at 3.1 billion euros in September – up from 1.3 billion in August - and suggests that the appreciation of the euro has not seriously impacted exports growth.
• [B]NZDUSD [/B]– Carry trades like NZD/USD and AUD/USD unwound overnight amidst a slump in global stocks, as the Nikkei closed down 1.57 percent and the Hang Seng Index plunged 3.95 percent.
• [I]Europe January-August Trade Gap With China Soars 25%[/I] (link) – Bloomberg
• [I]BOJ’s Muto Says Japan May Suffer From U.S. Woes[/I] (link) - Bloomberg
• [I]Asian Stocks Fall, Led by Exporters, Banks on U.S. Outlook[/I] (link) - Bloomberg
• [I]German Railway Strike Halts Passenger, Cargo Service[/I] (link) – Bloomberg
• [I]Paulson Reiterates Strong Dollar Policy, Expects Subprime Losses to Worsen /I - The Wall Street Journal
• [I] Credit Pressure Filters Down To Muni Market /I - The Wall Street Journal
