MORNING BRIEFING: The Euro at its highest since 14 months - above 1.5000 Dollars.

[RTFX-Trading]

MORNING BRIEFING: The Euro at its highest since 14 months - above 1.5000 Dollars.

What’s new:
Switzerland: trade surplus of CHF 1.92Mrds in September.
France: business confidence up in October.
Germany: tightened financial regulation from the new German Executive Government.
United States: Summers said that the US economy has yet to find its engine.
United States: Obama will impose drastic pay cuts.
Oil: up more than 3% in New York.
United States: the Fed said economic activity improved slightly.


Today:


Rates in Asia and Indices:
EURUSD: 1.5036 - 1.4966.
USDCHF: 1.0093 - 1.0046.
EURUSD: 1.6637 - 1.6576.
EURJPY: 137.08 - 136.27.
USDJPY: 91.58 - 90.78.
Dow Jones: 9'949 -0.92%.
NASDAQ: 2,150 -0.59%.
S & P500: -0.89% 1'081.
Nikkei: 10'207 -1.21%.
Shanghai: 3'063 -0.22%.
Gold: $1'058 .20.
Crude oil: $81.04.

 Comments:
The sterling pound is soaring at the highest in a month against the Dollar near 1.6600 and the Euro surpassed 1.5000 against the Dollar for the first time in 14 months. The dollar is sealed by the prospect that US interest rates will be at a historically low level for a prolonged period.

The Pound Sterling was the big winner yesterday following the report of the last monetary policy meeting of the Bank of England that showed "divergent views" about the inflation outlook. The report also revealed that 9 members voted for the stimulus plan remains unchanged.

Regarding the debate on the use of the Dollar or a switch to a basket of currencies for oil trading, a minister in charge of Qatar Petroleum said the debate continues. The debate on changing the dollar as the currency of oil trade was re-launched earlier this month by a British article stating talks between China, Japan, Russia, France and the Gulf countries.

Good day.

Nicolas Longchamp
RTFX Ltd
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