MORNING BRIEFING: The Dollar continued its rise, decreased risk appetite.

[RTFX-Trading]

MORNING BRIEFING: The Dollar continued its rise, decreased risk appetite.

What’s new:
France: trade deficit relapsed to 4.4Mrds in October.
Germany: trade surplus higher than expected.
Germany: surprise drop in industrial production.
Switzerland's unemployment rate climbed to 4.20% in November.
US: bailout of banks would be extended.
Japan: economic growth revised down sharply.
Fitch lowers the rating of Greece to BBB +, outlook negative.
England: Industrial output stagnates in October.

Today:


Rates in Asia and Indices:
EURUSD: 1.4736 - 1.4669.
USDCHF: 1.0292 - 1.0247.
EURUSD: 1.6289 - 1.6167.
EURJPY: 130.46 - 129.17.
USDJPY: 88.69 - 87.79.
Dow Jones: 10'285 -1.00%.
NASDAQ: 2'172 -0.76%.
S & P 500: 1,091 -1.03%.
Nikkei: 10'004 -1.34%.
Shanghai: 3'259 -1.13%.
Gold: $1,134.
Crude oil: $73.27.

Comments:
The market bought the Dollar and the Japanese Yen after lowering the credit rating of Greece and some companies in Dubai. The British banks are considered the most exposed in Europe to the debt problem in Dubai. The prospects of prolonged low interest rates have increased, and investors opted for safer investments with the approach of the end of the year.

Investors will be watching today the index of consumer prices in Germany, the trade figures in the United Kingdom and the point on the public finances that will make the British government. As for the US, investors will monitor applications for mortgage refinancing.

The players who bet on the Dollar will probably feel more confident, the US Dollar has continued its progress. Expectations about interest rates in the US will determine the direction of the Dollar in the short term.

Have a 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

This message and any attachments (the "message") are intended solely for the addressees and are confidential. If you receive this message in error, please delete it and immediately notify the sender. Any use not in accordance with its purpose, any dissemination or disclosure, either whole or partial, is prohibited except with formal approval. The internet cannot guarantee the integrity of this message. RTFX Ltd (and its subsidiaries) shall (will) not therefore be liable for the message if modified. Do not print this message unless it is necessary, consider the environment. RTFX Ltd holds a Category 3 license issued by the Malta Financial Services Authority.