[U][B]Fundamental Headlines[/B][/U]
• [B]AUDUSD [/B]– The Australian trade deficit unexpectedly widened to a record of AU$2.98 billion in October, as a surge in consumer spending led import growth to outpace export growth.
• [B]USDJPY [/B]– Capital spending in Japan fell for the second quarter in a row during Q3 at a rate of 1.2 percent, as fears that a slowdown in the US economy will negatively impact Japan continues to grip businesses.
• [B]USDCHF [/B]– Conditions in the Swiss manufacturing sector remained strong in November, as SVME PMI unexpectedly improved to a reading of 63.4 from 60.7. A breakdown shows that the output, backlog of orders, and employment components elevated the overall reading, as foreign and domestic demand for Swiss goods remains strong.
• [B]EURUSD [/B]– Purchasing managers in the Euro-zone manufacturing sector indicated resilient conditions, as the PMI unexpectedly rose to a reading of 52.8 from 51.5 in October. It appears that the appreciation of the Euro has done little to deter demand for European goods, as output and new orders rose.
• [I]US Subprime Debacle Traps Even Very Credit-Worthy /I – Wall Street Journal
• [I] US Expands Scrutiny of Home Lenders[/I] (link) – Wall Street Journal
• [I] BOJ’s Fukui Says Keeping Rates Too Low Could Hurt Growth /I – Bloomberg
• [I]Japan’s Capital Spending Falls for Second Quarter /I – Bloomberg
• [I]Bank of England in Dilemma on Interest Rates /I – Financial Times
• [I]ECB’s Trichet, Facing Market Tension, Boxed In by Inflation[/I] (link) – Bloomberg
• [I]Bond Market Illiquidity Hits Euro-zone[/I] (link) – Financial Times
