Apple has agreed to let the electronics retailer Best Buy Co. Inc sell the new iPhone 3G starting next month.

Nvidia Corp, тhe second-largest maker of computer-graphics chips increased its share buyback program by $1B.

The homebuilder Toll Brothers Inc said its revenue fell to $796.5M in the third quarter, down 34% from the year-ago period, citing "continued weakness in most of our markets."

Cree Inc, тhe maker of semiconductors used in lighting mobile phones and street lamps reported fourth-quarter profit above analysts’ estimates.

"The aggregate inventory-to-sales ratio remained low at the end of the second quarter. Our running revision calculation (which includes inventories, trade, construction
spending, components of retail sales, and capital goods shipments) points to an upward revision to second-quarter real GDP to around 2.75%."

"+1.7% Jul import prices were dominated by soaring petroleum prices but notes +0.9% nonoil prices. But, sharp slowing in global demand is likely to lead to a significant moderation
of import and export price inflation in the months ahead."

Gains extend to Y109.75 area now as the dollar surge extends, forcing weak shorts in various yen crosses to scramble for cover amid a visious rebound. Hard to say what precipitated the move, one trader points to oil surge as hurting yen but scale of move is suggestive of a stop scramble.

Buyers are not showing much interest as crude approaches a 3.0% gain, although stocks are trading modestly above session lows. The Amex Airline Index is tumbling 8.6% as the prospect of higher jet fuel prices weigh on the industry's outlook.

The yen rose to a 12-week high against the euro and its strongest level in two months versus the pound as investors in Japan reduced bets on higher-yielding assets abroad.
Japan's currency climbed to a two-year high against New Zealand's dollar and a four-month high versus Australia's dollar on speculation central banks will lower interest rates.

Mitul Kotecha, head of global foreign exchange research at Calyon "(We) are becoming increasingly cautious about the ability of the dollar to sustain gains and believe that a period of consolidation is more likely over coming days. The risk remains that it is all happening too quickly especially as there is still a lot of bad news out there."

"Despite the decline in auto and parts retail inventories, the inventory-sales ratio rose from 2.19 in May to 2.22 in June. One year ago, the ratio was 2.03. Vehicle sales are falling faster than inventories."

Stocks slumped Wednesday morning, extending the previous session's slide, as investors eyed a weak retail sales report, higher oil prices and the latest financial market woes.
Those concerns spread into Wednesday's market and were compounded by the retail sales report. A positive reaction to a few tech earnings reports helped limit losses for the Nasdaq.
July retail sales fell 0.1% from the previous month, in line with estimates and reflecting the end of the impact from the government stimulus checks. Sales excluding autos rose 0.4%, the government said, with results falling short of the expected rise of 0.5%.
Applied Materials reported sales and earnings late Tuesday that tumbled from a year ago due to the tough industry environment. Nonetheless, results edged out analysts' estimates.
Deere & Co. reported higher third-quarter sales and earnings that topped sales forecasts and missed earnings expectations. The tractor maker also warned that higher raw material costs would crimp fourth-quarter profit margins.
Toll Brothers warned that home-building revenue fell about 34% in the fiscal third quarter because of the housing market collapse. The luxury homebuilder also reported a big drop in net contracts signed, and said that it is not comfortable providing an earnings outlook due to the state of the market.
However, analysts were expecting a bigger drop in home-building revenue, and Toll stock managed to inch higher.
U.S. light crude oil for September delivery rose $2,37 to $115.38 a barrel on the New York Mercantile Exchange Tuesday.
Oil prices rose ahead of the weekly oil inventories report, due out at 10:35 a.m. ET. Also, investors were monitoring fighting between Russia and Georgia, which has continued despite an announced cease-fire Tuesday. Georgia serves as an important hub for transporting fuel between Asia and Europe.
In the bond market, Treasury prices tiptoed higher, lowering the yield on the benchmark 10-year note to 3.90% from 3.99% late Monday.
COMEX gold for October delivery rose $11.20 to $822 an ounce.

RBSGC says the negative of high oil prices "should begin to fade as summer ends, given the pullback in prices at the pump." They look for consumption to pick up later.

Crude prices (+1.4% at $114.67) extend their advance on the unexpected drop in oil inventory levels and a steep 6.4 million barrel decline in gasoline inventories.
The energy sector (+0,9%) catches a bid on the strength in crude, while consumer discretionary (-2.0%) and airline stocks (-4.4%) go on the retreat.
Shares of General Motors (-0.50) were already lower, but come under additional pressure on news that Moody's lowered its credit ratings on GM. Specifically, the GM corporate family was downgraded to Caa1 from B3, with a negative outlook.

Continues to slide, fresh lows for the session recently printed at $1.8640 area as the pound remains under strong pressure following a dovish inflation report from the MPC. Techs suggest support at $1.8620, the 61.8% retracement of Nov 2005 to Nov 2007 and at $1.8525 Reversal low October 2006.

Slips back below $1.4900, after failing to clear above $1.4904, currently trading back round $1.4890. Bids now seen placed between $1.4855/50. A break and clear below this area seen opening technical potential for a move down to area between $1.4720/10.

WTI Nymex crude oil moved higher to $115.70 after news reports that Russia has shot down a Georgian spy drone above South Ossetian capital.
US DoE inventory report shows sharp fall in gasoline supplies.

The stock market gets off to a slightly lower start. In earnings news, Deere (DE 61.78, -7.56) missed on both the top and bottom lines in its fiscal third quarter, and issued disappointing guidance for its fiscal fourth quarter. Chip makers are seeing a boost, after Nvidia (NVDA 12.10, +1.03) and Applied Materials (AMAT 19.19, +0.72) reported quarterly earnings that topped estimates. As a result, the Nasdaq is outperforming. On the economic front, July retail sales were on the soft side, falling 0.1% month-over-month, although they matched the median economist forecast.

HSBC economist Ryan Wang says "With the collapse in auto sales (-8% unit sales) and the underlying details in this report, real PCE looks like it will decline again in July after falling 0.2% in June."

Stock futures suggest a lower open, but have recovered from their worst levels: S&P futures vs fair value: -4.8. Nasdaq futures vs fair value: -5.0. According to the Wall Street Journal, a Goldman Sachs (GS) led group has agreed to pay $1.5 billion for some of ABN AMRO's private equity assets.

Toll Brothers: The homebuilder said its revenue fell to $796.5 million in the third quarter, down 34% from the year-ago period. Toll said the results reflected "continued weakness in most of our markets."
CVS: Drug store chain CVS announced that it would build up its presence in the West Coast by purchasing Longs Drug Stores (LDG, Fortune 500) for $71.50, valuing the company at about $2.9 billion.
Best Buy: Apple has agreed to let the electronics retailer sell the new iPhone 3G starting next month - a move that could give Best Buy (BBY, Fortune 500) a boost during the holiday season.
Energy prices will be back in focus when the U.S. Department of Energy releases its weekly inventory report at 14:35 GMT.
Crude futures, which are down about 23% from their peak in mid-July, rose slightly ahead of the inventory report. U.S. crude for September delivery rose 72 cents to $113.73 a barrel in electronic trading

Economist Steven Wood at Insight Economics says "retail spending is likely to slump becauseof accumulating job losses, still high (but falling) energy prices, the housing meltdown, and the financial market turmoil. Consumer spending is off to a weak start at the beginning of Q3, suggesting much weaker overall economic growth in Q3 than we had in Q2."

The yen rose to a 12-week high against the euro and its strongest in two months versus the British pound as Japanese investors cut bets on higher-yielding assets abroad.
Investors pared so-called carry trades on concern the global economy is slowing after a report showed Japan's economy contracted last quarter. The yen climbed to a two-year high against New Zealand's dollar and the strongest in four months versus Australia's as prices of commodities the nations export extended declines. The yen also rose for a third day against the U.S. dollar as financial companies led Asian stocks lower.
``The yen is being driven higher by liquidation of carry trades,'' said Neil Jones, head of European hedge-fund sales in London at Mizuho Capital Markets. ``We are still in a risk- aversion type environment. Also, it's a seasonal story. Japanese investors tend to stop buying foreign currencies at this time of the year, which is a holiday season.''
The dollar may extend its decline versus the yen before a U.S. government report forecast to show consumers are spending less. Retail sales dropped 0.1 percent last month, the first decrease since February, according to the median forecast of 75 economists surveyed by Bloomberg News. The Commerce Department is scheduled to release the report today at 1230GMT

EUR/USD slowly rose from $1.4880 to $1.4950 before fell back to $1.4850. Rate currently rose to $1.4900 -- Euro-dollar bids $1.4855/50 Offers $1.4940, $1.4950/60-80/00

GBP/USDeased to $1.8993 ahead of the BOE Inflation Report. Dovish report dropped rate to an initial low of $1.8897, with secondary sales taking it to a pre NYopen low of $1.8735,

USD/JPY printed low at Y108.35 before it rebounded to Y109.10. Rate failed to keep bullish momentum and retreated to Y108.60/70. Bids Y108.35, Y108.20/00. Offers Y109.10/30, Y109.50/65.

At 12:30 GMT focus will be on US data, including Retail sales numbers and Business inventories. Analysts predict sales rose 0.1% in June after +0.5% month earlier. ``A disappointing retail-sales number could limit the dollar against the yen,'' said Hiroshi Yoshida, foreign-exchange trader in Tokyo at Shinkin Central Bank. ``This may also cause declines in stocks, which would encourage yen buying as investors avoid risky trades.'' At 14:35 GMT US energy department will release oil stocks figures.

Hans-Werner Sinn, Ifo president - "The economic climate has further clouded over in nearly all countries of the euro area in the third quarter of 2008. The slowing in economic activity will continue in all countries of the euro area in the coming six months."

"The euro-dollar is likely to remain on a weak footing,'' analysts led by Hans-Guenter Redeker, the London-based global head ofcurrency strategy at BNP Paribas SA, France's biggest bank, wrote in a research note yesterday. ``The GDP report would confirm Europe is moving below trend growth, which will, over time, release deflationary forces.'' Traders should sell euros for dollars with a target of $1.46, according to BNP Paribas.

The yen rose to a 12-week high against the euro and its strongest in two months versus the British pound as Japanese investors cut bets on higher-yielding assets abroad.
Investors pared so-called carry trades on concern the global economy is slowing after a report showed Japan's economy contracted last quarter. The yen climbed to a two-year high against New Zealand's dollar and the strongest in four months versus Australia's as prices of commodities the nations export extended declines. The yen also rose for a third day against the U.S. dollar as financial companies led Asian stocks lower.
``The yen is being driven higher by liquidation of carry trades,'' said Neil Jones, head of European hedge-fund sales in London at Mizuho Capital Markets. ``We are still in a risk- aversion type environment. Also, it's a seasonal story. Japanese investors tend to stop buying foreign currencies at this time of the year, which is a holiday season.''
``As growth and rate expectations outside the U.S. continue to worsen, we believe the dollar will continue to firm,'' UBS currency strategists led by Zurich-based Mansoor Mohi-uddin wrote in a research note yesterday.
The dollar may trade at $1.51 per euro in one month and $1.47 in three months, compared with previous forecasts of $1.60 and $1.53, the strategists wrote. The greenback also may buy 110 yen in one month and 111 yen in three months, versus an earlier estimate of 105 yen for both periods, they said.
The dollar may extend its decline versus the yen before a U.S. government report forecast to show consumers are spending less. Retail sales dropped 0.1 percent last month, the first decrease since February, according to the median forecast of 75 economists surveyed by Bloomberg News. The Commerce Department is scheduled to release the report today at 1230GMT.

``A disappointing retail-sales number could limit the dollar against the yen,'' said Hiroshi Yoshida, foreign-exchange trader in Tokyo at Shinkin Central Bank. ``This may also cause declines in stocks, which would encourage yen buying as investors avoid risky trades.''

Cable extends react losses, from its pre release level of $1.8993, $1.8820 (lowest level since Oct 26 2006). Rate currently trades back around $1.8840. Bids seen placed to $1.8800, a break below to open a deeper move toward $1.8780/70. Offers $1.8870/80.

Resistance 3: Y111.80
Resistance 2: Y110.40
Resistance 1: Y109.30
Current price: Y109.03
Support 1: Y108.30
Support 2: Y107.30
Support 3: Y105.70

Comments: Strong resistance is around Aug 11-12 highs on Y110.40. Key resistance is around Y111.80 (trend line from Mar 2008). Support comes at overnight’s lows on Y108.30, below – at Y107.30. Stronger support comes near trend line from Mar 2008 at Y105.70. Resistance is around 50% Fibo of Y110.40 - Y108.30 decline.

Resistance 3: Chf1.1080
Resistance 2: Chf1.1000
Resistance 1: Chf1.0940
Current price: Chf1.0877
Support 1: Chf1.0740
Support 2: Chf1.0680
Support 3: Chf1.0520

Comments: Dollar retreats. Support is near Monday’s lows on Chf1.0740. Below correction may dip down to Chf1.0680 and then – to Chf1.0520 (last Thursday’s lows). Strong resistance is around trend resistance line from Mar 17 on Chf1.0940. Above the target comes at 38.2% Fibo (Chf1.3180 - Chf0.9630 decline). Break above that level will open the way to Chf1.1080.

Resistance 3: $1.9240
Resistance 2: $1.9120
Resistance 1: $1.9080
Current price: $1.8911
Support 1: $1.8910
Support 2: $1.8880
Support 3: $1.8820

Comments: Cable holds within the downward channel from Jul 31. Strong support comes at channel line on $1.8910/20. Key support is around trend line from Jan 2002 on $1.8880. Below support is around Nov 12 of 2006 lows on $1.8820. Resistance is near yesterday’s high on $1.9080, above – on $1.9120. Stronger level is around channel resistance line on $1.9240.

--BOE Sees CPI Clearly Below Target On Market, Flat Rate Assumptions
--BOE Sees Risks To CPI To The Upside; Growth Risks To The Downside

The Bank of England forecast that if rates are left on hold, inflation will be below target in two years time, undermining the case for a rate hike and leaving the door open to slight monetary easing. Based on constant 5% Bank Rate, the BOE's August Inflation Report showed CPI clearly falling below 2% in two years' time. On market rate assumptions inflation also falls back to around 1.8% in two years time and continues to fall further in the third year. The BOE's implied rate assumptions showed rates broadly on hold through 2009 before rising by almost 25 basis points from the second half of 2010. Overall, the report is less hawkish than many analysts' had expected.

Resistance 3:$1.5140
Resistance 2: $1.5080
Resistance 1: $1.4970
Current price: $1.4926
Support 1: $1.4810
Support 2: $1.4760
Support 3: $1.4700

Comments: Euro consolidates within the 40-points range above yesterday’s lows on $1.4810 (minor support). Below losses may widen to $1.4760. Strong support remains at $1.4700 (50% of $1.3380 - $1.6040 rise). Resistance is around 23.6% Fibo of $1.5500 - $1.4810 decline. Above the recovery may extend to $1.5080 (38.2%), then – to $1.5140 (Broken channel support line from Jul 15).

EUR/USD: $1.5200

USD/JPY: Y109.50

AUS/USD: $0.8860, $0.8925

NZD/USD: $0.6950

USD/CAD: C$1.0765

GBP/USD dropped from around $1.8967 to $1.8948 on release of UK employment data, but rate quickly corrects back to $1.8980. Main focus remains on 0930GMT BOE Inflation Offers now seen placed to $1.9000, more toward earlier rally highs at $1.9036. Bids $1.8950, more between $1.8925/20 (Asia low $1.8922).

EUR
Bids: $1.4900, $1.4885/00
Offers: $1.4985/95

JPY
Bids: Y108.35, Y108.20/00
Offers: Y108.90/00, Y109.20, Y109.40/50

GBP
Bids: $1.8930/20, $1.8900, $1.8885
Offers: $1.9045/55, $1.9070/80

AUSSIE
Bids: $0.8640, $0.8600/0.8590
Offers: $0.8730/35

The yen rose to a 12-week high against the euro as Japanese investors cut bets on higher- yielding assets abroad.
Investors pared so-called carry trades on concern the global economy is slowing after a report showed Japan's economy contracted last quarter.
The yen climbed to a two-year high against New Zealand's dollar and the strongest in four months versus Australia's, as prices of commodities the nations export extended declines.
The yen also rose for a third day against the U.S. dollar as financial companies led Asian stocks lower.
Japan's economy, the world's largest after the U.S., shrank an annualized 2.4% in the three months ended June 30 after expanding a revised 3.2% in the first quarter, the Cabinet Office said today in Tokyo.

EUR/USDslowlyrosefrom$1.4880 to$1.4950, where it set stable.

GBP/USD challenged strong support around $1.8900 and rebounded to $1.9013.

USD/JPY printed low at Y108.35 before it rebounded to Y108.90. Rate failed to keep bullish momentum and retreated to Y108.60/70.

In Europe UK labor market report will be the major event (at 08:30 GMT). At 09:00 GMT EU Industrial production report is due to come. At 09:30 GMT attention will be on BoE quarterly inflation letter, that may weight on VHC’s rates prospects.
At 12:30 GMT focus will be on US data, including Retail sales numbers and Business inventories. Analysts predict sales rose 0.1% in June after +0.5% month earlier. At 14:35 GMT US energy department will release oil stocks figures.

Japan's stocks fell a second day after the nation's economy shrank for the first time in a year, pointing to dimmer earnings prospects in the second half. The Nikkei 225 Stock Average dropped 280.55, or 2.1%, to close at 13,023.05. The broader Topix index fell 24.94, or 2%, to 1,246.48.

Stock market fixing:
Nikkei 225 -127.31 -1.0% 13,303.60
Topix -8.58 -0.7% 1,271.42
FTSE -7.30 -0.13% 5,534.50
DAX -23.76 -0.36% 6,585.87
CAC -20.01 -0.44% 4,518.48
Dow -139.88 -1.19% 11,642.47
NASDAQ -9.34 -0.38% 2,430.61
S&P -15.73 -1.21% 1,289.59
10yr Note -0.8400 -0.210% 3.918%
NYMEX Crude Oil -1.44 -1.26% 113.01
Gold -13.70 -1.65% 814.60

Japan's stocks fell for the first time in three days on concern steelmakers' earnings will be squeezed and the fastest wholesale inflation in almost three decades will erode profit margins at manufacturers.
JFE Holdings Inc. led producers of the alloy lower on speculation Chinese exports will weigh on prices. Snow Brand Milk Products Co. sank the most in five years as materials costs cut profit. Mitsui Sumitomo Insurance Group Holdings Inc. rose to the highest this month as first-quarter profit reached about half of its annual target.
China's steel exports climbed 38% in July from the previous month, the nation's customs office said yesterday. BHP Billiton Ltd., the world's biggest mining company, raised prices of iron ore by as much as 97% this year, while its venture with Japan's Mitsubishi Corp. tripled coking - coal prices.
Japan's producer prices, the costs companies pay for energy and raw materials, climbed 7.1% in July from a year earlier, the steepest gain since January 1981, the Bank of Japan said. Meanwhile, Japanese consumers became the most pessimistic in June since at least 1982 when the government began compiling the figures, the Cabinet Office said today.
JFE fell 6.1%, while bigger rival Nippon Steel Corp. sank 4.6%. Sumitomo Metal Industries Ltd. dropped 4.6%.
Snow Brand tumbled 13%, the most since February 2003, after net income fell 12%. Ajinomoto Co., the nation's largest maker of food additives, lost 4.4%, after surging materials costs more than halved first- quarter profit. Nikko Citigroup Ltd. lowered its rating on the stock to ``hold'' from ``buy.''

European stocks fell for the first time in three days as a retreat in metals prices sent mining companies lower and investors speculated bank losses will deepen.
BHP Billiton Ltd., the world's largest mining company, tumbled after gold, platinum and copper declined. BNP Paribas SA and UniCredit SpA led banks lower after JPMorgan Chase & Co. signaled it may write down $1.5 billion in mortgage assets. UBS AG, the European bank hardest hit by the collapse of the U.S. subprime market, sank the most in a week. Weir Group Plc, the world's biggest maker of pumps for the mining industry, had its steepest drop since 2006 after sales at its U.S. unit declined.
House prices in Britain fell as the squeeze on credit brought the property market to a ``virtual standstill,'' the Royal Institution of Chartered Surveyors said today. U.K. homebuilders Persimmon Plc and Bellway Plc dropped after Dresdner Kleinwort said investors should abandon the stocks.
BHP dropped 1.3%. Rio Tinto Group retreated 1.2%.
BNP Paribas, France's largest bank, dropped 3.7%. UniCredit, Italy's biggest, slipped 1.2%.
JPMorgan said it will write down the value of mortgage- backed assets by at least $1.5 billion this quarter after the credit-market turmoil and the U.S. housing slump deepened.
UBS sank 2.4%. The bank reported a second-quarter net loss of 358 million Swiss francs ($329 million), and said it doesn't expect the ``adverse economic and financial trends'' to improve in the second half.
Standard Chartered Plc slipped 6.8%. Citigroup cut its recommendation on the stock to ``sell'' from ``hold,'' citing rising inflationary pressure in Asia.
Persimmon sank 5.2%. Bellway, a U.K. homebuilder aimed at first-time buyers, tumbled 5.6%.

Stocks declined Tuesday, retreating after the recent rally as oil prices fluctuated, the dollar fell and more credit market problems surfaced.
The ongoing credit market crisis pressured investor sentiment.

JP Morgan Chase said in a regulatory filing that trading conditions have deteriorated in the third quarter versus the second quarter and that it has written down $1.5 billion in credit market losses in the quarter.
Morgan Stanley said late Monday that it will repurchase $4.5 billion in auction-rate securities after the Attorney General's office said its investigation of the sale of such securities will include the firm.
The repurchase plan won't stop the investigation from continuing, the Attorney General's office said following the news. Also, Moody's cut Morgan's debt rating.
UBS reported its fourth straight quarterly loss Tuesday and said it would split its investment banking unit from its wealth management unit after wealthy clients withdrew substantial sums during the quarter.
BP said Tuesday morning that it shut down a Georgian pipeline for safety reasons. Russia said it has halted its attacks on Georgia but unrest in the region remains after days of fighting.
The U.S. deficit unexpectedly narrowed in June, as an increase in exports overshadowed a surge in oil import prices, the government said. The trade gap narrowed to $56.77 billion in June from a revised $59.2 billion in May.

The dollar snapped a five-day winning streak against the euro on speculation the currency's recent gains are too fast to be sustained.
The greenback has rallied 4.3% versus the euro this month on speculation the U.S. economic slowdown is spreading to Europe and as commodity prices have tumbled.
Germany's economy, the largest in the 15-nation region that uses the euro, probably contracted in the second quarter for the first time in almost four years, according to the median forecast of 41 economists. The government is due to report the data on Aug. 14.

EUR/USDprinted lows around $1.4820, where bids helped the rate to recover to $1.4960. Later rate set stable around $1.4870/$1.4930.
GBP/USD printed lows on $1.8967 before rebounded to $1.9080 after stronger-then-expected UK CPI report. But rate failed to keep bullish momentum and retreated to $1.8945/50.
USD/JPY again tested strong resistance area between the Y110.35/40 levels with offers capped the rally and dollar retreated to Y109.20.

InEuropeUKlabormarketreportwillbethemajorevent(at08:30 GMT). At 09:00 GMT EU Industrial production report is due to come. At 09:30 GMT attention will be on BoE quarterly inflation letter, that may weight on МРС’s rates prospects.
At 12:30 GMT focus will be on US data, including Retail sales numbers and Business inventories. Analysts predict sales rose 0.1% in June after +0.5% month earlier. At 14:35 GMT US energy department will release oil stocks figures

Resistance 3: Y111.80
Resistance 2: Y110.40
Resistance 1: Y109.30
Current price: Y108.66
Support 1: Y108.30
Support 2: Y107.30
Support 3: Y105.70
Comments: USD/JPY declines with support comes at overnight’s lows on Y108.30, below – at Y107.30. Stronger support comes near trend line from Mar 2008 at Y105.70. Resistance is around 50% Fibo of Y110.40 - Y108.30 decline. Strong resistance is around Aug 11-12 highs on Y110.40. Key resistance is around Y111.80 (trend line from Mar 2008).

Resistance 3: Chf1.1080
Resistance 2: Chf1.1000
Resistance 1: Chf1.0940
Current price: Chf1.0843
Support 1: Chf1.0740
Support 2: Chf1.0680
Support 3: Chf1.0520
Comments: Dollar retreats. Support is near Monday’s lows on Chf1.0740. Below correction may dip down to Chf1.0680 and then – to Chf1.0520 (last Thursday’s lows). Strong resistance is around trend resistance line from Mar 17 on Chf1.0940. Above the target comes at 38.2% Fibo (Chf1.3180 - Chf0.9630 decline). Break above that level will open the way to Chf1.1080.

Resistance 3: $1.9240
Resistance 2: $1.9120
Resistance 1: $1.9080
Current price: $1.8971
Support 1: $1.8910
Support 2: $1.8880
Support 3: $1.8820
Comments: Cable holds within the downward channel from Jul 31. Strong support comes at channel line on $1.8910/20. Key support is around trend line from Jan 2002 on $1.8880. Below support is around Nov 12 of 2006 lows on $1.8820. Resistance is near yesterday’s high on $1.9080, above – on $1.9120. Stronger level is around channel resistance line on $1.9240.

Resistance 3:$1.5140
Resistance 2: $1.5080
Resistance 1: $1.4970
Current price: $1.4916
Support 1: $1.4810
Support 2: $1.4760
Support 3: $1.4700
Comments: Euro consolidates within the 40-points range above yesterday’s lows on $1.4810 (minor support). Below losses may widen to $1.4760. Strong support remains at $1.4700 (50% of $1.3380 - $1.6040 rise). Resistance is around 23.6% Fibo of $1.5500 - $1.4810 decline. Above the recovery may extend to $1.5080 (38.2%), then – to $1.5140 (Broken channel support line from Jul 15).

Oil has steadied above $113 (trading $113.17) in Asia, after falling Tuesday to its lowest since May 2 in the wake of official data showing US oil use in its steepest dive in 26 years. The NYMEX September light crude oil contract settled at $113.01 per barrel Tuesday, down from Monday's settlement at $114.45. Earlier, the September contract bottomed out at a low of $112.31.

High Low Close
EUR/USD 1.4962 1.4812 1.4912
USD/JPY 110.35 109.18 109.29
GBP/USD 1.9123 1.8950 1.8956
USD/CHF 1.0924 1.0827 1.0865

EUR/JPY 164.39 162.77 162.97
EUR/GBP 0.7872 0.7791 0.7871
GBP/JPY 210.61 206.98 207.16
GBP/CHF 2.0778 2.0588 2.0595

Change % Change Last
Nikkei 225 -127.31 -1.0% 13,303.60
Topix -8.58 -0.7% 1,271.42
FTSE -7.30 -0.13% 5,534.50
DAX -23.76 -0.36% 6,585.87
CAC -20.01 -0.44% 4,518.48
Dow -139.88 -1.19% 11,642.47
NASDAQ -9.34 -0.38% 2,430.61
S&P -15.73 -1.21% 1,289.59
10yr Note -0.8400 -0.210% 3.918%
NYMEX Crude Oil -1.44 -1.26% 113.01
Gold -13.70 -1.65% 814.60

08:30 UK Claimant count (July) +16.5K +15.5K
08:30 UK Claimant count rate (July) 2.6% 2.6%
08:30 UK Average earnings (3 months to June) Y/Y 3.6% 3.8%
08:30 UK ILO Jobless rate (3 months to June) - 5.2%
09:00 EU(15) Industrial production (June) -2.3% -1.9%
09:00 EU(15) Industrial production (June) Y/Y 0.3% -0.6%
09:30 UK BoE quarterly inflation report
12:30 USA Retail sales (July) 0.5% 0.1%
12:30 USA Retail sales excluding auto (July) 0.6% 0.8%
12:30 USA Import prices (July) - 2.6%
12:30 USA Export prices (July) - 1.0%
14:00 USA Business inventories (June) 0.5% 0.3%
23:50 Japan Tertiary activity index (June) - -0.2%