Forex News: Carry Trades Fall Overnight, Is the US Stock Market Next?

Fundamental Headlines

•    AUDUSD – Australian leading indicators issued by the Conference Board and Westpac showed that economic growth in the country should remain resilient in the next 3-9 months, supporting the case for the RBA’s most recent rate hike.

•    USDJPY – The Japanese merchandise trade surplus narrowed to 1,052.8 billion yen in October from 1,635.9 billion yen, despite record high exports, as oil imports weighed on the balance.

•    EURUSD – Italian retail sales faltered in September, falling 0.2 percent during the month and dropping 0.6 percent from a year earlier. However, Italian consumer confidence in November improved to 107.6, suggesting spending growth may have improved.

•    GBPUSD – The BOE’s November meeting minutes reflected a 7-2 vote to keep rates steady, as members Blanchflower and Gieve voted for a cut on fears that money markets may become tighter as the credit crunch persists.

•    Tokyo Leads Indexes Lower As U.S. Economic Worries Spread () - The Wall Street Journal

•    Rudd Says Australian Election Will Be Close, Tough and Nasty () - Bloomberg

•    Japan's Exports Rise to Record on Asia, Europe Demand () - Bloomberg

•    Bank of England Panel Voted 7-2 for Unchanged Rate () - Bloomberg

•    Big Buybacks Begin to Haunt US Firms ) - The Wall Street Journal

•    Asean Charter Is Adopted, But Myanmar Discord Mars Effort () - The Wall Street Journal