[B]Fundamental Headlines[/B]
[I]
• September Sales May Predict Holidays – Wall Street Journal
• U.K. Finance Sector Sees Brighter Outlook – Wall Street Journal
• HSBC chief fears a second downturn – Financial Times
• Trichet Says Some Emerging Currencies Must Increase Against Euro, Dollar Recession – Bloomberg
• Service Industries in U.S. Probably Stabilized in September on Recovery -Bloomberg[/I]
[B]EURUSD[/B]- Euro-zone retail sales fell for a 15th straight month in August by 0.2% as rising unemployment continues to lead consumers to retrench. The declining level of consumption has threatened the scope of the recovery with demand dropping 2.6% from a year ago. However, we did see the monthly results beat estimates for a 0.4% decline, which is a small victory. Meanwhile, European investor confidence rose to a 15 month high in October as it has become clear that the recession is ending, but if growth begins to level then we could see optimism wane. To discuss this and other ideas visit the EUR/USD Forum.