Fundamental Headlines • USDJPY - Japanese trade surplus jumps to 1.64 trillion yen last month on exports to China and Europe. Shipments to the US drop the most in four years. • AUDUSD - Consumer inflation report for third quarter offers mixed signals with the annual headline number cooling to a near-eight year low 1.9 percent, while the core report for the same period accelerated to a 16-year high 3.1 percent. • EURUSD - Euro Zone current account surplus grows far more than expected in August to a 3.8 billion euro positive gap, while the previous month’s report is nearly doubled in a revision from 1.7 billion euros to 3.8 billion. • EURUSD - European manufacturing activity cools much quicker than expected. According to the Reuters PMI report for October, factory activity plunged to a recent record low 51.5 on declines in output, orders and employment. • EURUSD - Countering the disappointment in factory trends, service sector output actually rebounds from its lows to 55.6 this month thanks to improvements in new and outstanding business. Cooler forecasts cast doubt however. • Countrywide's New Scare (link) – Wall Street Journal • U.S. automakers keep pressure on Japan's yen (link) - MarketWatch • Yen Rises on Report Merrill Will Add $2.5 Billion to Writedowns (link) - Bloomberg • Jim Rogers Shifts Assets Out of Dollar to Buy Yuan (link) - Bloomberg • Buffett Says Investors Should Be `Cautious' on China (link) - Bloomberg • S&P May Cut Ratings of 207 Australian, New Zealand Mortgage-Backed Bonds (link) - Bloomberg • Absolute Capital says Absolute Germany lifts NAV calculation suspension (link) - Forbes