Japan's Machinery Orders Unexpectedly Decline, Signaling Economy May Stall Japanese machinery orders unexpectedly slumped, signaling economic growth may stall and prevent the central bank from raising interest rates, already the lowest among major economies. Stocks fell.

China's Producer Prices Rise at Slowest Pace Since May as Oil Costs Fall China's October producer prices grew at the slowest pace since May as increases in the costs of oil and minerals including zinc and copper slowed.

French Economic Expansion Probably Slowed From Fastest Pace in Six Years French economic growth probably slowed in the third quarter from the fastest pace in almost six years, indicating the expansion peaked in the first half, a survey of economists shows.

Faster U.S. Growth and Elevated Inflation Will Keep Interest Rates on Hold Economic growth in the U.S. will pick up and inflation will remain elevated through early next year, leaving the Federal Reserve little room to reduce interest rates, according to a survey of economists.

Rubin Urges Democrats to Work With Bush to Lift Taxes, Curb Budget Deficit Robert E. Rubin, the Treasury secretary under President Bill Clinton who helped engineer the end of a generation of budget deficits, urged Democrats to increase taxes to erase the U.S. fiscal shortfall.

China Inflation Probably Accelerated in October on Higher Food, Fuel Costs Inflation in China, the world's fastest-growing major economy, probably accelerated in October as food and fuel costs increased.

Korea Exchange Bank Profit Plunges 90 Percent on Tax Charges; Shares Fall Korea Exchange Bank, at the center of a criminal probe into its acquisition by U.S. buyout firm Lone Star Funds, reported the biggest quarterly profit decline in almost three years after being forced to pay more taxes.

Yen Strengthens Against Dollar, Euro as Fukui Flags Higher Interest-Rates The yen snapped a two-day decline against the dollar after Bank of Japan Governor Toshihiko Fukui said higher interest rates would extend a recovery in the world's second-largest economy.

New Zealand Dollar Heads for Weekly Drop as Odds for Rate Increase Fall New Zealand's dollar headed for a weekly loss as traders reduced bets on another central bank interest-rate increase.

Australia's Dollar Advances on Speculation China Central Bank Will Buy Australia's dollar gained on speculation China's central bank will buy the currency and increase purchases of commodities the nation exports.

Oil Trades Near $61 a Barrel After Rising on Concerns Stockpiles May Fall Crude oil traded near $61 after rising yesterday to a two-week high on concern winter heating demand and output cuts planned by the Organization of Petroleum Exporting Countries may erode U.S. stockpiles.

Die Börse heute Dürre Perspektive Starke Prognose

Eine bewegte Woche mit zahlreichen Quartalsberichten von deutschen Standard- und Nebenwerten klingt vergleichsweise ruhig aus. Nach der ersten Übersicht bekommen die Börsianer nun die vollständige Zwischenbilanz des Versicherers Allianz geliefert

euro zu Yen auf Rekordhoch
Das niedrige Zinsniveau belastet die japanische Währung
Die europäische Gemeinschaftswährung ist gegenüber dem Yen auf ein historisches Hoch gestiegen. Ein Euro wurde am Donnerstag in der Spitze mit 151,38 Yen bewertet, mehr als je zuvor seit Einführung des Euro Anfang 1999.

Zu wenig Weizen
Dürre in Australien und niedrige Vorräte lassen Preise steigen / Mangel an Reis zwingt China zu Importen
Daß Weizen sehr knapp werden kann, ist seit längerem bekannt. Die Preise haben bisher auch in beachtlichem Maß auf diese Aussicht reagiert.

Pound Heads for Weekly Drop Against Euro on Outlook for BOE Interest Rates The U.K. pound is set for its second weekly drop in three versus the euro on speculation the Bank of England won't lift interest rates costs more than once next year.

Aufschwung des Dax steht auf breitem Fundament
Zurückgebliebene Werte wie Deutsche Telekom, Siemens und Daimler-Chrysler sind nun mit von der Partie / Technische Analyse
Es geschah vor nunmehr fast dreieinhalb Jahrzehnten. Aufmerksam beobachtet ein Dreikäsehoch seinen Vater beim morgendlichen Studium der örtlichen Regionalzeitung, den "Badischen Neuen Nachrichten":

EZB sieht Kreditqualität skeptisch
Die Risikoprämien dürften vorerst aber weiter niedrig bleiben
Die Europäische Zentralbank (EZB) warnt vor dem Risiko, daß es demnächst zu einer Verschlechterung der Qualität von Unternehmenskrediten und steigenden Risikoprämien für solche Ausleihungen kommt.

Euro wieder etwas fester

Der überraschend deutliche Rückgang des amerikanischen Handelsbilanzdefizits hat den Euro am Donnerstag nur vorübergehend leicht belastet.

Euro-Staatsanleihen leicht im Plus

Auch die Veröffentlichung einer Reihe von Konjunkturdaten aus Nordamerika hat am Donnerstag kaum frischen Wind in den Rentenmarkt bringen können. Der richtungsweisende Bund-Future lag 18 Basispunkte im Plus bei 117,82 Prozent.

Faster U.S. Growth and Elevated Inflation Will Keep Interest Rates on Hold Economic growth in the U.S. will pick up and inflation will remain elevated through early next year, leaving the Federal Reserve little room to reduce interest rates, according to a survey of economists.

US-Demokraten erobern auch den Senat

Briten heben Zins auf Fünf-Jahres-Hoch

The USD has continued to fall after University of Michigan consumer confidence came out weaker than expected yesterday and PBoC Governor Zhou said at the ECB's monetary policymaking conference that China had a clear plan about diversifying its reserves. With the greenback unable to benefit from better trade and weekly jobless claims data yesterday, it has become clear that the market is still long dollars after the EUR managed to hold its downside support at 1.25 last month. We remain medium-term bears on the dollar, expecting the EUR to reach 1.30 and the JPY to reach 114 over three months, and for the EUR to eventually peak at 1.40 next year. But in the near term our view that the dollar would rebound over the next few weeks from its higher yield status has clearly been undermined by the renewed soft data coming out of the US. This has hurt growth currencies in general and yesterday we were stopped out of our long USDCHF and short EURJPY positions. Thus we turn back to being neutral on the dollar on a one-month time horizon while keeping our underlying bearish three-month forecasts. We therefore revise up our one month EUR forecast back to 1.27 from 1.24, USDJPY to 116.50 from 119, cable to 1.88 from 1.85, . In turning neutral rather than bearish on the dollar in the near term, we suspect that it is still too early for our underlying three-month bearish dollar forecasts to come fully into play as the Fed is unlikely to start cutting interest rates until March. We therefore expect the EUR to keep trading in a 1.25-1.30 range for the next few weeks. Today there are no data releases in the US. The main event to watch is the second day of the ECB conference on monetary policymaking with ECB President Trichet, FOMC Chairman Bernanke, BOJ deputy Governor Iwata and PBOC Governor Zhou speaking on a panel discussion at 1345GMT on the role of monetary policy. JPY: Fukui's carry trade comments help sentiment This morning BOJ Governor Fukui appeared before parliament, again discussing the possibility of raising interest rates in the near term. He also said he was very cautious about a sharp unwinding of carry trades. The latter comments are the most explicit to date on the subject and show that Japanese policymakers have become worried about the size of short JPY positions. Thus while we were stopped out of our EURJPY short position yesterday we think increased official intolerance of JPY weakness is starting to put a floor under the currency.