Previous Day’s Trading Range

High Low High Low
EUR/ USD 1.4229 1.4206
GBP/JPY 238.80 235.89
USD/ JPY 117.17 116.16
CHF/JPY 99.23 98.34
GBP/ USD 2.0418 2.0285
EUR/GBP 0.6986 0.6960
USD/ CHF 1.1833 1.1777
EUR/CHF 1.6805 1.6712
AUD/ USD 0.8917 0.8815
GBP/CHF 2.4113 2.3926
USD/CAD 0.9819 0.9724
NZD/USD 0.7554 0.7408
EUR/JPY 166.45 164.56
Silver/USD 13.82 13.53
Gold/USD 765.00 751.90
Crude Oil 88.88 86.91

Daily Recap

• Bernanke sees housing as “significant drag”; NAHB, starts, and permits lower
  

• PBOC sees 2007 inflation north of 4%; more tightening ahead?
  

• BoE MPC’s Blanchflower voted for 25bps ease; November easing?
  

• U.K. labour market remains tight; average earnings creep higher
  

• Aussie August Westpac leading index higher
  

Day Ahead

• RBA bulletin likely to spotlight strong domestics vs weak internationals
  

• U.K. Sept retail sales to be dented by higher rates and liquidity crisis?
  

• ECB chief Trichet talks ahead of G7 on Friday
  

• Fed officials Plosser and Pianalto talk
  

• October Philly Fed and claims data in U.S. session
  

Schedule
all times GMT; (last release in parentheses)

2350 Japan Net equities investment (?274.1 billion)
2350 Japan Net bonds investment (?52.0 billion)

Thursday, 18 October 2007

0045 US Kansas City Federal Reserve President Hoenig speaks
0130 Australia September balance of payment imports (7.0% m/m)
0130 Australia Reserve Bank of Australia monthly bulletin
0530 Japan September nationwide department store sales (1.4% y/y)
0530 Japan September Tokyo-area department store sales (4.5% y/y)
0615 CH September trade balance (CHF 640 million)
0830 UK September retail sales (0.6% m/m)
0830 UK September retail sales (4.9% y/y)
0830 UK September public sector net cash requirement (?5.0 billion)
0830 UK September public sector net borrowing (?9.1 billion)
0830 UK September M4 money supply (1.2% m/m)
0830 UK September M4 money supply (13.5% y/y)
0830 UK September BSA mortgage approvals
0830 UK September M4 sterling lending (?25.7 billion)
0900 CH October ZEW survey, expectations (-26.7)
0900 Eurozone August trade balance (€4.6 billion)
0800 Eurozone August construction output (0.0% m/m)
0800 Eurozone August construction output (1.7% y/y)
1230 US Weekly initial jobless claims (308,000)
1230 US Continuing jobless claims (2.521 million)
1230 Canada August international securities transactions
1400 US September leading indicators (-0.6%)
1430 US Cleveland Federal Reserve President Pianalto speaks
1600 US Philadelphia Federal Reserve President Plosser speaks
1600 US October Philadelphia Fed index (10.9)
2100 US European Central Bank President Trichet speaks
2350 Japan August all-industry activity index (-0.4% m/m)