NEWS / Foreign Exchange

U.S Market Update

• *** ECONOMIC SCHEDULE ***
• US Oct Final University of Michigan Confidence: 82.0e || 82.0 prior [10:00 et]
• SP Finance Minister Solbes to speak Madrid [11:45 et]
• EU ECB??™s Ordonez to speak in Madrid [11:45 et]
• US Fed??™s Mishkin to speak in NY [16:15 et]
• *** EUROPEAN NEWS OVERNIGHT ***
• GE Nov GFK Consumer Confidence: 4.9 v 6.5e || Prior revised from 6.8 to 6.7
• GE Hesse CPI: M/M 0.2% v 0.3% prior || Y/Y 2.3% v 2.3% prior
• SP Q3 Unemployment: 8.03% v 7.90%e
• SZ Sep Producer and Import Prices: M/M 0.3% v 0.3%e || Y/Y 2.5% v 2.9%e
• EU Sep M3 Y/Y: 11.3% v 11.4% e || 3-Month Average: 11.5% v 11.6%e
• EU Juncker: Prefers a strong Euro to a weak one
• ECB Draghi: Italy needs to boost its productivity
• ECB Draghi: Italy needs to cut its public spending
• JP Morgan Analyst: Sees gold testing $814/oz in 2008
• JP Morgan Analyst: Boosts 2008 gold, silver, and platinum forecasts
• JP Morgan Analyst: Forecasts a smaller drop in base metals in 2008 than initially forecasted; Notes that a decline is still expected in 2009
• JP Morgan Analyst: Sees precious metals outperforming base metals in 2008
• *** ASIAN NEWS OVERNIGHT ***
• JP Oct Tokyo CPI: 0.1% v 0.0%e || Prior revised from ??“0.2% to ??“0.2%
• JP Oct Tokyo CPI Ex-Fresh Food: 0.0% v 0.0%e
• JP Oct Tokyo CPI Ex-Fresh Food & Energy: -0.3% v ??“0.3%e
• JP Sep National CPI: -0.2% v ??“0.1%e
• JP Sep National CPI Ex-Fresh Food: -0.2% v ??“0.1%e
• JP Sep National CPI Ex-Fresh Food & Energy: -0.3% v -0.3%e
• JP Sep Preliminary Industrial Production: M/M ??“1.4% v ??“1.2%e || Y/Y 0.8% v 1.2%e
• AU Aug Conference Board Leading Index: 0.7% v 0.3% prior || Prior revised from 0.3% to 0.4%
• JP Economic Minster Ota: The end of deflation has been delayed although it is still in sight
• JP Economic Minister Ota: The situation for prices has not changed much from last month
• JP Finance Minister Nukaga: Japan has not fully beaten deflation, but is in the process of moving it out
• HKMA: Confirms intervention at 7.7500; Reiterates that it is committed to the HKD peg.