Forex News: US Dollar Hits New Lows Against Euro Ahead of US Housing Data, FOMC

Fundamental Headlines

•    NZDUSD – Visitor arrivals to New Zealand fell 2.6 percent in October to a 21-month low, suggesting that housing demand and consumption growth may cool.

•    USDCHF – The Swiss trade surplus narrowed in October to 1.56 billion francs from 1.71 billion francs, but nevertheless, the figure was better than expected. Exports remain strong at 18.75 billion francs as the Swiss franc remains weak relative to the Euro, helping to fuel demand from the Euro-zone region.

•    EURUSD – German producer price growth was surprisingly strong at 0.4 percent during the month of October and 1.7 percent from a year earlier as surging energy and raw material costs drive up prices at the factory gate.

•    USDCAD – Canadian inflation unexpectedly slowed in October, bringing the Bank of Canada's core measure below the 2.0 percent target to 1.8 percent as the rapid appreciation of the Canadian dollar drives down the prices of imported goods.

•    Wealthy Nations In Gulf Rethink Peg to Dollar () - The Wall Street Journal

•    China Yuan Revaluation Would Kill Growth, Fan Says () - Bloomberg

•    Bank of Japan Shackled by Subprime, Ex-Cabinet Secretary Says () - Bloomberg

•    New Zealand Annual Immigration Declined in October () - Bloomberg

•    Canadian October Consumer Prices Fall Unexpectedly on Gasoline () - Bloomberg

•    French Civil Servants Join Rail Workers in Strike () - The Wall Street Journal