Fundamental Headlines
• NZDUSD - Business PMI report for September remains net positive at 54.6, though production and new orders slip as currency and interest rates weigh on activity. • GBPUSD - RICS House Price Balance drops 14.6 percent in September, the worst reading in two years, as evidence of a turn in the UK housing market mounts. • AUDUSD - Australian employers take on a net 13,000 new workers last month - a smaller addition than expected and solely in part-time positions - though 11th consecutive increase pushed the jobless rate to a 33-year low 4.2 percent. • USDJPY - Bank of Japan votes 8-1 to keep the overnight lending rate at 0.50 percent. Nonexistent inflation, waning demand from the US and lingering credit issues threaten to defer any more hikes for some time. • EURUSD - A 0.9 percent jump in German wholesale sales prices last month pushes the annual measurement to a more than one-year high 4.0 percent. • EURUSD - The final readings on Euro-Zone GDP for the second quarter are unchanged with a modest 0.3 percent advance for the three months and a 2.5 percent pace of growth for the year. • Japan's Credit Rating Raised to A1 by Moody's After Four Cuts Since 1998 - Bloomberg • Russia's Foreign Currency Reserves Decline From Record to $424.8 Billion - Bloomberg • Chrysler-UAW Contract Ends Strike, Echoes GM Accord - Bloomberg • ECB says it remains ready to counter euro zone inflation risks - Forbes • ECB's Trichet says bank watching euro rate, urges restraint in debates on currency's strength - Herald Tribune Written By John Kicklighter, Currency Analyst for DailyFX