overnight news and headlines

Forex News: Volatility Cools as Fed Aproaches, Paulson Still Promoting Strong Dollar

Tuesday, 30 October 2007 11:04:56 GMT  |  John Kicklighter, jkicklighter

Fundamental Headlines

• USDJPY - The unemployment rate rose for the second consecutive in September. A bigger-than-expected increase brought the jobless guage to 4.0 percent, following the jump from 3.6 to 3.8 percent in August.
• USDJPY - Overall spending among Japanese households doubled its pace of expansion through September. A 3.2 percent increase marks the fastest pick up in consumption habits since March of 2005.
• NZDUSD - The money supply growth guage for the year through September accelerated to 9.4 percent, upending a 20-month low. Notable was the first monthly increase in M1 since April, a possible sign of a hawkish turn for RBNZ.
• EURUSD - The number of unemployed in Germany fell by 40,000 in October, leading the jobless rate to slip to a 14-year low 8.7 percent – as expected. This will stand firmly in the ‘positives’ column for the ECB’s next rate decision.
• USDCHF - Consumer spending rebounded from a seven month low after the UBS Consumption Indicator reported a 1.992 reading in September. Strong wages and hiring trends should keep spending on a firm foundation.

• Canada to unveil fiscal report, mum on tax cuts (link) - Reuters 
• Lehman Brothers raises $3 billion leveraged loan fund (link) - MarketWatch
• Australian, N.Z. Dollars Fall on Prospect of Smaller Fed Cut (link) - Bloomberg
• India Raises Banks' Reserve Limit to Slow Inflows (link) - Bloomberg
• Paulson says housing still not at bottom, strong dollar in US interest (link) - Forbes
• UBS Reports SF830 Million Loss on Debt Writedowns (link) - Bloomberg
• U.K. Pound Rises to 26-Year High Against Dollar on Rate Outlook (link) - Bloomberg

 

Resources

• free demo account
• forex courses
• open an account
• forex stream
• free webinars