- S&P 500 falls 2.4% to 1395
- Rehn: If Spain asks for aid, we will be ready to act
- US Sept consumer credit rises $11.36B vs $10.18B exp
- Boehner: House Republican ready to work with Obama on deficit; puts tax hikes on table under right conditions
- Cantor: not so fast
- Greenspan: China has ‘obviously’ manipulated the yuan to expand job growth
- Home prices rise in 120 of 149 US metro areas, NAR
- Merkel sees first signs of overcoming crisis
- Fitch sovereign head: Fiscal cliff deal, rise in debt ceiling would preserve US ‘s AAA rating
- Moody’s: Will decide on US rating after outcome of 2013 budget negotiations
- Poland cuts rates for first time since 2009
- Soft 10-year auction
- Italian debt chief: No major imbalances in Italy except for the debt
- Oil down $4.08 to $84.64
- JPY leads, EUR lags
Massive beatdown in the stock market but major FX pairs all less than 50 pips from yesterday’s open. There is some serious dissonance there.
EUR/USD fell to a two month low but found a bid ahead of 1.2730 and rebounded to 1.2770.
AUD/USD impressively held 1.04 and suffered no technical damage despite the rout in stocks.
USD/CAD was less fortunate and is close to posting an outside bullish day.
Lots of chatter about from gold bulls about the benefits of an Obama win.
