MORNING BRIEFING: Bankruptcy of CIT Group, lower carry trades, the Dollar benefits.

[RTFX-Trading]

MORNING BRIEFING: Bankruptcy of CIT Group, lower carry trades, the Dollar benefits.

What’s new:
US: Bankruptcy of CIT Group.
Wall Street : waits anxiously for the Fed and the employment report.
US: Consumer spending down, the consumer confidence falls.
US: Chicago PMI up sharply to 54.2 in October.
Japan : BoJ begins its withdrawal from the market.
BNS: no comment on the fall of the Franc against the Euro.
England: first annualized increase in house prices since 2008.
Switzerland: KOF barometer jumped to 1.45 points in October.
Euro area: unemployment rate at 9.70% in September.
Japan: Deflation down -2.30% in September over a year.
Japan: unexpected drop in unemployment in September.

Today:


Rates in Asia and Indices:
EURUSD: 1.4780 - 1.4685.
USDCHF: 1.0279 - 1.0214.
EURUSD: 1.6479 - 1.6346.
EURJPY: 133.22 - 131.00.
USDJPY: 90.24 - 89.19.
Dow Jones -2.51% 9'712.
NASDAQ: 2'045 -2.50%.
S & P500: 1'036 -2.81%.
Nikkei: 9'802 -2.31%.
Shanghai: 3'058 +2.08%.
Gold: $1'045.90.
Crude oil: $77.50.
 
Comments:
The week starts strong, the Sunday announcement of the insolvency of CIT Group weighed on financial markets, causing a drop in carry trades and a rising US Dollar and Japanese Yen.

The meetings of the Federal Reserve, Bank of England and European Central Bank, the G20, and the employment figures on Friday should cause high volatility this week. If the bear market continues, as volatility increases, there is no doubt that the Dollar will appreciate. With all the key events expected this week, we should have a clearer picture at the end of this week.

Good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
Web: www.rtfx.com

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