- RBNZ’s Wheeler says N.Z. doesn’t need quantitative easing, has scope to cut rates if needed. Would like to see lower currency.
- Greece needs another Eur 30 bln through 2016. WSJ
- Apple and Amazon earnings disappoint.
- New Zealand trade deficit at NZ$ 791 million.
- S.Korea 3rd qtr GDP rose 0.2% q/q, rose 1.6% y/y.
- New Zealand October business confidence at 17.2, activity outlook fell to 25.5%.
- IMF’s Lagarde urged world leaders to ‘do whatever it takes’ to rebuild the world’s financial system.
- Japans cabinet approves $5.3 billion in economic stimulus measures.
- Japan EconMin Maehara says stimulus part of plan to be drawn up in November.
- Japan FinMin Jojima says stimulus may push up GDP by 0.1%., MOF panel to discuss effect on JGB market of bill delay.
Risk off late in the session as the AUD/USD tumbles to 1.0310/15 after trading around the 1.0350 level most of the session. USD/JPY testing the session lows at 80.05/08 just above support at 80.00. BOJ expected to ease next week and will have to wait until November for further details on the stimulus plan. EUR/USD range-bound finding bids ahead of 1.2920 support. Greece still a big question mark on their bailout deal. TGIF
Have a good weekend.
