[U][B]Fundamental Headlines[/B][/U]
• [B]USDJPY [/B]– Spending in Japan’s service sector grew by 0.7 percent, as measured by the Tertiary index. Japanese consumers increased their spending on financial services and movies, a sign that confidence has completely faded. Meanwhile, the leading economic index printed lower at 30.0% declining from the 50 boom/bust level, where it sat the previous month. The U.S. slowdown is offsetting strong domestic demand, which may begin to falter as consumer confidence is declining worldwide as the subprime crisis continues. The forward looking gauge saw declines in new job offers, industrial production and shipments. For more news and resources please visit our Yen Currency Room.
• [B]USDCHF [/B]– Swiss retail sales grew 1.3%, marginally increasing from the previous month, led by a 3.4% increase in leisure goods. However, consumers decreased spending in other discretionary areas, as they have slowed their pace since a 7.1% increase in September. For more news and resources please visit our Swiss Franc Currency Room.
• [B]EURUSD [/B]–Eurozone employment grew at its slowest pace in a year, as record oil prices and the U.S. subprime crisis discouraged companies from hiring. Despite recent fundamental data that has shown the regions economy to be resilient, the far reaching affects of the credit crunch may force the ECB to re-think their hawkish stance and considering lowering rates by the end of the year. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [I] JP Morgan Buys Bear In Fire Sale, AS Fed Widens Credit To Avert Crisis[/I] (link) – Wall Street Journal
• [I]Tibetans Step Up Protest In China [/I] (link)– Wall Street Journal
• [I] Sieman’s Slashes Profit Forecast[/I] (link) – Financial Times
• [I]U.S. Futures, Global Stocks, Dollar Decline After Fed Cuts Rate[/I] (link) – Bloomberg
• [I]Auction-Bond Failures Deplete New Hampshire Universities Fund [/I] (link) – Bloomberg
