- Cyprus to formally request bailout meetings today
- Toyota makes an offer for US-based Cascade Corp
- Fitch: US credit card chargeoffs at lowest since 2007
- ECB’s Constancio says supervision to focus on large banks
- Caterpillar cites global growth slowdown
- Germany unlikely to support another Greek debt haircut or bailout, DJ
- RTRS: BOJ is leaning toward easing further on Oct 30
- No clear signs from Haper on takeovers
- USD/CAD hits 10-week high
- USD/JPY hits highest since July
- EUR/GBP highest since April
- S&P 500 touches lowest since early Sept but closes flat at 1434
- EUR leads, JPY lags
The euro was held down early by a 1.3050 option expiry at the NY cut and popped above 1.3080 afterwards, with Greek bailout chatter adding to the move. Later, as sentiment retreated, EUR/USD fell back below 1.3050, taking out some weak hands.
USD/JPY made some headlines but the action was over by the time the US rolled in. Some marginal strength to 79.93 after the M&A headlines but some strong hands are on the offer at 80.00.
USD/CAD was remarkably resilient. Market participants seem to be digging in their heels and hoping the Nexen/Petronas deals get approval in the end. Marginal 10-week high at 0.9964 but given the state of the stock market and oil, the rebound to 0.9927 is a shock. BOC is tomorrow and expected to be dovish.
AUD/USD found some bids at 1.0290 and caught the late wave of risk appetite in stocks. Last 1.0321.
