- US Q3 GDP +2.0% vs +1.8% exp
- UMich final consumer confidence 82.6 vs 83.1 prelim
- IMF: Spanish important progress made in reforming Spanish financial sector
- Schaeuble: There are doubts that Greece has met its commitments
- UBS to cut 10,000 jobs – FT
- Moody’s places 6 Canadian banks on review for downgrade
- China posts $71B capital account deficit
- Berlusconi sentenced to 4 years
- Gold flat at $1711
- S&P 500 -0.1% to 1412, down 1.5% on the week
- JPY leads, CAD lags on day
Stubborn yen-cross selling all day as the market retraced some of the weekly gains.
The euro briefly spiked above the European high to 1.2956 on the IMF headlines and a squeeze but quickly fell back to 1.2939.
USD/CAD nudged up against parity but wasn’t able to break through despite a swoon in stocks and the bank downgrades.
AUD/USD caught a bid in the early going and squeezed higher on a break of 1.0360. Offers around 1.04.
Have a great weekend.
