[U][B]Fundamental Headlines[/B][/U]
• [B] AUDUSD[/B] – The NAB business confidence and business conditions indexes improved during the month of October to readings of 9 and 20, respectively, as a buoyant economy outweighed the impact of the RBA’s rate hike to 6.75%.
• [B]USDJPY [/B]– The Bank of Japan voted 8-1 to leave rates steady at 0.50%, with board member Atsushi Mizuno the sole member to vote for a hike for the sixth consecutive meeting. While Q3 annualized GDP was stronger than expected at 2.6%, deflationary conditions will likely prevent the bank from pursuing rate normalization in the near-term.
• [B]GBPUSD [/B]– UK CPI accelerated faster than expected during the month of October, as the annualized rate surged past the Bank of England’s 2.0 percent target for the first time since June to 2.1 percent. The gains were, unsurprisingly, led by oil, food, and air travel and may eliminate any prospect of a rate cut in the near term.
• [B]EURUSD [/B]– The German ZEW survey fell to a nearly 15-year low of -32.5 in November from -18.1, as a record high Euro and oil prices, jittery financial markets, and a hawkish ECB worked to the detriment of investor sentiment.
• [I]Japan’s Economic Growth Rebounds on Consumer Spending[/I] (link) - Bloomberg
• [I]Australia Will Raise Interest Rate to 7% By March, Survey Shows[/I] (link) - Bloomberg
• [I]China’s October Inflation Matches Decade High of 6.5% (link)[/I] – Bloomberg
• [I]U.K. Inflation Rate Increases to a Four-Month High (link)[/I] - Bloomberg
• [I]IMF Official Says Growth Not Hurt By Euro Strength[/I] (link) - The Wall Street Journal
• [I]U.S. Forecaster Sees Further Jump In Gasoline Prices[/I] (link) - The Wall Street Journal
