[U][B]Fundamental Headlines[/B][/U]
• [B]AUDUSD[/B] – The Aussie hit fresh 23-year highs as the RBA raised rates by 25bp to 6.75 percent, as expected, and remained hawkish in their policy statement citing upside inflation risks from robust global and domestic demand.
• [B]GBPUSD [/B]– UK consumer confidence, as measured by Nationwide Building Society, dwindled in October with the firm’s index of sentiment falling to 98 from 99.
• [B]USDJPY [/B]– A Chinese advisor said that the government “will favor stronger currencies over weaker ones, and will readjust accordingly,” suggesting that China will actively diversify its $1.4 trillion in FX reserves away from US dollars.
• [B]EURUSD [/B]– German industrial production was surprisingly strong during September, as production rose 0.3 percent from the month prior led by energy, capital goods, and construction output.
• [I]Dollar Slumps to Record on China’s Plans to Diversify Reserves[/I] (link) - Bloomberg
• [I]Prices at Pump Set To Join Crude’s Rally[/I] (link) - The Wall Street Journal
• [I]Oil Rises Above $98 to a Record on Dollar, North Sea Evacuation[/I] (link) - Bloomberg
• [I]Europe, U.K. Expected To Hold Key Rates Steady[/I] (link) - The Wall Street Journal
• [I]Australia Raises Interest Rate to 6.75% on Inflation[/I] (link) - Bloomberg
• [I]Citigroup Credit Swaps Near Highest in Five Years[/I] (link) - Bloomberg
