MORNING BRIEFING: Trichet says a strong Dollar is in the interest of the entire international community.

[RTFX-Trading]

MORNING BRIEFING: Trichet says a strong Dollar is in the interest of the entire international community.

What’s new:
Oil: up in New York near $80 a barrel.
General Motors could cut up to 10,000 jobs in Europe.
Euro Zone: Trichet totally agrees with Bernanke on the Dollar.
US: according to Yellen, the Fed cannot be accommodative for too long.
US: Industrial production up by 0.10% in October.
US: higher net inflows in September.
US: producer prices up by 0.30% in October.
IMF: supports a new world currency.
Euro area: trade surplus in September.
England: annual inflation at 1.50% in October, as expected.

Today:


Rates in Asia and Indices:
EURUSD: 1.4907 - 1.4859.
USDCHF: 1.0170 - 1.0140.
EURUSD: 1.6838 - 1.6783.
EURJPY: 133.00 - 132.59.
USDJPY: 89.37 - 89.09.
Dow Jones: 10'437 +0.29%.
NASDAQ: 2'203 +0.27%.
S & P 500: 1,110 +0.09%.
Nikkei: 9'676 -0.55%.
Shanghai: 3'299 +0.49%.
Gold: $1'138.
Crude oil: $79.48.
 
Comments:
Today, in the United Kingdom, the publication of the minutes of the last meeting of the Bank of England will capture the attention of investors, who seek to know when the British central bank will eventually begin to tighten monetary policy. The index of consumer prices for October in the United States is also been watched this afternoon.

Jean-Claude Trichet said yesterday that a strong Dollar is in the interest of the entire international community, totally agreeing with Ben Bernanke on this point. Guy Quaden, a member of the Governing Council of the European Central Bank, on Tuesday expressed his optimism towards the economy of the euro area but his colleague Juergen Stark noted that the time to tighten monetary conditions in the Euro area is approaching.

The EUR/USD remains in the range 1.4800 -1.5100, renewed risk aversion benefited the Dollar, but expectations of a continued extremely low rate in the US for a long period weighed on the Dollar.

Have a good day.

Nicolas Longchamp
RTFX Ltd
Head Office
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