Daily Recap

• EUR/USD new lifetime high; chartists eye $1.4350 target
  

• Weber remains hawkish; Fed Beige Book saw slower growth
  

• USD/JPY: Key 115.25 level tested; 50% of Sep-Oct range; JPY crosses unwind
  

• Chinese Sept CPI blistering at 6.2% y/y; Q3 GDP near 11.5%
  

• GBP/USD at 2.5-month high despite mortgage slowdown; Sept retail sales +ve
  

• CHF strongly bid on risk aversion; Oct ZEW improves
  

• AUD/USD tests key resistance at 0.8965; Kiwi tests key resistance at 0.7560
  

Day Ahead

• G7 communique likely to spotlight CNY; EUR and JPY to be mentioned?
  

•   Crude nearing $90.00 on risk premium and inventory draws
  

• German PPI could pose upside EUR risk if hot
  

• U.K. GDP may shake-off Q3 liquidity woes; 2.0610 a big level
  

• USD/CHF eyeing 1.1620; chartists eye 1.1460 price objective
  

• Canadian CPI on-deck; techs eye 0.9230 m/t target
  

• Bernanke and Poole unlikely to yield major clues on FOMC policy
  

Schedule

all times GMT; (last release in parentheses)

2100 US European Central Bank President Trichet speaks
2350 Japan August all-industry activity index (-0.4% m/m)

Friday, 19 October 2007

0130 Australia Q3 import price index (0.1% q/q)
0130 Australia Q3 export price index (0.3% q/q)
0600 Germany September producer prices (0.1% m/m)
0600 Germany September producer prices (1.0% y/y)
0800 Italy August industrial orders (11.8% y/y)
0800 Italy August industrial sales (11.5% y/y)
0830 UK Q3 GDP (3.1% y/y)
0830 UK August index of services (1.0%)
1100 Canada September consumer price index, core (0.1% m/m)
1100 Canada September consumer price index, core (2.2% y/y)
1200 Spain European Central Bank member Gonzalez-Paramo speaks
1400 US Federal Reserve Chairman Bernanke speaks
1400 US St. Louis Federal Reserve President Poole speaks


Chart to Watch