Fundamental Headlines
• USDJPY - Tankan’s large manufacturer economic outlook report unexpectedly holds near two year high 23 reading for third quarter while 8.7 percent increase in projected spending beats forecasts.• USDJPY - A 0.1 percent increase in earnings marks the first increase in nine months the end of the longest series of declines since 2004. Tankan shows fears of worst expected workers shortage in 15 years is ahead.• USDCHF - Manufacturing activity cooled a lot more than expected in September, with a 57.6 print marking the weakest outlook on the sector’s performance since December 2005.• EURUSD - Euro Zone manufacturing PMI for September matches flash estimate of 53.2 - for the worst reading since records began in early 2006. A trend lower could curb growth and rate expectations from the region.• GBPUSD - Lending trends take a big hit in the UK. Housing equity withdrawals decelerate to 10.0 billion pounds (the lowest since third quarter of 2005) while mortgage approvals for August hit 109,000 (a four-month lows). • Emerging-Market Short Sales Climb, Entice Bulls at DWS, Fisher - Bloomberg• UBS to write off $3.4 billion - Reuters Canada• China's Manufacturing Activity Accelerates in September, Survey Shows - Bloomberg• Asia stocks hit record; gold at 28-year high - Reuters South Africa• UK Hometrack September House-Price Growth Stalls - Telegraph • BoE offers 10.0 bln stg in second 3-mth cash auction - Reuters UK
Written by John Kicklighter, Currency Analyst for DailyFX.com