[B][U]Fundamental Headlines[/U][/B]
• [B]NZDUSD[/B] – Consumer spending in NZ seems to be holding out despite the RBNZ’s aggressive efforts to dampen consumption and inflation, as retail sales jumped a greater-than-expected 1.0 percent during September.
• [B]AUDUSD[/B] – Average weekly earnings in Australia rose 4.9 percent from a year ago in August, up from 4.6 percent, suggesting that price pressures in the economy remain firm and supporting the case for the RBA’s recent hike.
• [B]USDJPY[/B] – The Japanese services sector slowed in September, as the tertiary index fell 1.6 percent from the month prior, boding ill for next week’s All-Industry Index for the same period.
• [B]GBPUSD[/B] – Retail sales growth in the UK fell negative for the first time in six months during October at a rate of 0.1 percent, highlighting the BOE’s concerns that downside risks for growth loom large.
• [B]EURUSD[/B] – Euro-zone CPI was confirmed to have rocketed 2.6 percent in October from a year – well above the ECB’s 2.0 percent target – as a result of gains in energy and food prices.
• [I]Japan’s Service Demand Falls on Drop in Production[/I] (link) – Bloomberg
• [I]Polls Suggest That Australia’s PM May Lose Power In An Upcoming Election[/I] (link) - The Wall Street Journal
• [I]New Zealand’s September Retail Sales Rise 1% on Fuel[/I] (link) - Bloomberg
• [I]Barclays Writes Down $2.7 Billion on U.S. Subprime[/I] (link) – Bloomberg
• [I]European Food Prices Soar by the Most in Five Years[/I] (link) - Bloomberg
• [I]GMAC ResCap’s Investors Fret Over Lender’s Viability As Net Worth Plunges[/I] (link) - The Wall Street Journal
