[U][B]Fundamental Headlines[/B][/U]
• [B]NZDUSD[/B] – New Zealand housing sales plummeted 22.6 percent in October from a year earlier, signaling that interest rates at a record high has led to a sharp slowdown in the property market.
• [B]USDJPY[/B] – Carry trades unwound as the yuan posted the biggest weekly gain against the dollar in two years after US Treasury Secretary Henry Paulson said China is “out of step” with the rest of the world’s calls for faster appreciation.
• [B]USDCHF[/B] –The SECO consumer confidence survey for Switzerland unexpectedly held steady at a reading of 15 in October, suggesting that tight labor market conditions are keeping households optimistic.
• [B]EURUSD[/B] – The EU raised the 2008 inflation forecast for the region to 2.1 percent from 1.9 percent, reiterating ECB President Trichet’s comments that upside inflation risks remain. However, the outlook for 2008 GDP was revised lower, all of which suggests that the ECB has very little room to maneuver in monetary policy.
• [I]New Zealand House Sales Fall 23% From Year Earlier[/I] (link) - Bloomberg
• [I]China’s Yuan Has Biggest Weekly Advance Since Dollar Link Ended /I - Bloomberg
• [I]Japan Stocks Slump on Report Mizuho Merger With Shinko Delayed[/I] (link) - Bloomberg
• [I]Asian Indexes End Mixed; Japan Declines, Hong Kong Rises[/I] (link) - Bloomberg
• [I]Australia Posts Longest Run of Jobs Gains in 12 Years[/I] (link) - The Wall Street Journal
• [I]Affordable Luxury’ Stores Feel Economy’s Pinch[/I] (link) - The Wall Street Journal
