Boeing Co.. The round-the-clock talks with union machinists are aimed at averting a strike like the one that shut down the company's jet production lines for almost a month in 2005, The Wall Street Journal reports.

Investors are increasingly concerned about the possibility of a federal bailout Fannie Mae
that could wipe out holders of common equity. This uncertainty makes getting new financing to buy mortgages difficult.

The world's fifth-largest copper producer Southern Copper Corp was upgreaded to ``neutral'' from ``underperform'' by Merrill Lynch.

The maker of Calvin Klein and Izod clothing Phillips-Van Heusen Corporation lowered its third-quarter profit estimate to $1.07 a share, below analysts’ estimates.

Carves out a fresh low for the session around Y108.14 area as residual stops sub Y108.20 get taken to the cleaners and as the dollar takes another leg lower in a market where yen crosses have wreaked havoc on the day. Dollar bids said layered ahead of Y108.00, techs remind that Y108.03 is the 38.2% retracement of Y103.80/110.65
move. Stops reported in place sub Y107.90 with order books said to get a bit thin down there.

The dollar fell the most against the euro in more than a month on speculation further writedowns at financial firms and an increase in crude oil prices will prolong the U.S. economic slowdown.
The yen rose against all of the other major currencies after the Financial Times reported Lehman Brothers Holdings Inc. failed to sell a 50 percent stake, prompting investors to reduce holdings of higher-yielding assets funded in Japan. The dollar is headed for a 4.8 percent increase versus the euro in August, the biggest monthly gain since May 2001.
The dollar has gained almost 8 percent versus the euro since touching the all-time low of $1.6038 on July 15 and appreciated 0.4 percent against the yen this month as reports showed the European and Japanese economies shrank in the second quarter and crude oil fell almost 20 percent from a record of $147.27 a barrel reached July 11.
Crude oil increased 5.7 percent to $121.55 a barrel today on speculation tension between the U.S. and Russia will disrupt supplies. The euro-dollar exchange rate and oil have had a correlation of 0.9 in the past year, according to calculations based on their value changes. A reading of 1 would mean they move in lockstep.
``Commodities are taking off,'' said Jeff Gladstein, global head of foreign-exchange trading at AIG Financial Products in Wilton, Connecticut. ``Rising commodities reinforced the momentum of dollar selling.''
Futures on the Chicago Board of Trade show a 23 percent chance the Federal Reserve will raise the 2 percent target rate for overnight lending between banks by at least a quarter- percentage point by its Dec. 16 meeting, down from 35 percent odds a week earlier. Policy makers next meet Sept. 16.
``Rate expectations have consolidated some, and oil has rebounded,'' said Benedikt Germanier, a currency strategist at UBS AG in Stamford, Connecticut. ``There's not as much oxygen for the dollar as there once was.'' He still favors the dollar on evidence growth in Europe is slowing.

"Philly Fed at -12.7 continues to paint a more pessimistic picture of manufacturing than some other indicators, such as the ISM. Meanwhile the LEI nosedive should somewhat be discounted as initial jobless claims and building permits -- both currently distorted -- drove it down."

"The underlying behavior of this index is consistent with the notion that the US has been in a recession."

Stocks trimmed losses Thursday morning as financial shares recovered slightly from opening declines. However, any comeback was limited as oil prices jumped nearly $4 a barrel and the dollar weakened.
Fannie and Freddie fears remained in place Thursday, although both stocks managed to bounce after the recent bloodletting. Fannie shares hit a 20-year low before bouncing back and Freddie hovered near an all-time low before rebounding.
Meanwhile, jobless claims fell for the second week in a row, the Philadelphia Fed index showed continued weakness in manufacturing and an index of leading economic indicators fell more than expected.
Concerns about Lehman's solvency were also in focus after a Citi Investment Research analyst cut his third-quarter forecasts for the bank, along with those of Morgan Stanley and Goldman Sachs. The analyst also forecast steep quarterly writedowns related to bad mortgage bets for all three banks.
Lehmanshares dropped nearly 3%, while Morgan and Goldman shares were down just 1% in the early going.
Lehman's money problems led the firm to hold secret talks with South Korean and Chinese investors to try and sell up to half of its shares, the Financial Times reported, although no deal was reached. However, the Chinese firm in question denied any knowledge of talks with the company.
Meanwhile, the Wall Street Journal reported that the Federal Reserve quizzed Credit Suisse last month about a rumor that it had pulled a line of credit from Lehman. However, Credit Suisse reportedly said that it had not done so and had no plans to.
U.S. light crude oil for October delivery rose $3.91 to $119.47 a barrel on the New York Mercantile Exchange, with investors seeing the weaker U.S. dollar and the renewed worries about the economy as a reason to get back into commodities.

Light Sweet Crude Oil, 15 Minute Intraday Chart

The Philadelphia Fed index, a regional manufacturing survey, posted a reading of -12.7 versus forecasts for a bigger drop. The prior month's reading was -16.3. Any reading that is negative suggests weakness, while a positive reading suggests growth.
The index of leading economic indicators (LEI) slumped 0.7% in July, topping forecasts. June LEI was revised to neutral from an initial decline of 0.1%.
The number of Americans filing new claims for unemployment fell last week by more than expected, the government reported. However, the figure remained above the key 400,000 level for the fifth week in a row.
In the bond market, Treasury prices fell, raising the yield on the benchmark 10-year note to 3.83% from 3.79% late Wednesday. Prices and yields move in the opposite direction.
COMEX gold for October delivery rose $21.80 to $834.20 an ounce

"LEI continue to decline rather steadily as it has for the past year, reflecting a soft current economy and a weak outlook indcating softer GDP growth readings likely lie in store for 2H 2008 and early-2009."

Ian Morris of HSBC: "August Philly Fed at -12.7 washe best performance in 7 months, but still in moderate contraction. A ray of hope is that 6 month expectations are high for both new orders (39.4) and shipments (36.3)."

WTI Nymex crude oil earlier hit 10-day highs at $119.94, amid fear that Russia may disrupt oil flows after US plans for a missile shield in Poland and speculation that OPEC will cut output. Traders also note that the weaker dollar has contributed to rise in oil, gold and other commodities as an inflation hedge, but currency traders cite strong commodities as causation for dollar strength. Crude oil prices are now easing off highs following release of weaker than expected US Philly Fed survey, with WTI Nymex crude oil at $118.85, $3.32.

prices paid 57.5 in aug, vs 75.6 July; new orders -11.9 in Aug vs -12.1 in July; employment -1.1 in Aug vs -7.3 in July.

Stocks opened sharply lower, but have pared some of their losses. Only the energy sector (+1.6%) and defensive-oriented utilities (+0.2%) are trading higher.
Oil prices are up sharply to their highest level in about two weeks. Oil is currently trading near $119 per barrel.

Slowly edging its way back toward $1.8700. Rate earlier probed above the figure on two occassions, both times meeting decent supply which repulsed. Offers reported in place between $1.8700/10, a break above to open a move on toward $1.8730 ahead of $1.8780/90.

Stock futures remain depressed. S&P futures vs fair value: -10.0. Nasdaq futures vs fair value: -14.5. An analyst from Citigroup has trimmed earnings per share estimates for Lehman Brothers (LEH), Goldman Sachs (GS), and Morgan Stanley (MS). The analysis contends the institutions may incur further write downs, according to Reuters. Additionally, The Wall Street Journal reported that the Fed contacted Credit Suisse (CS) regarding a rumor that it pulled a credit line from Lehman Brothers; Credit Suisse said there was no truth to the rumor and it had no intention of pulling it.

Fannie shares sank almost 27% and Freddie shares tumbled 22% in Wednesday trading. More than 200 million shares of both Fannie and Freddie changed hands, four times their average trading volume. So far this week, the stock for each of the mortgage giants has plunged 44%.
Wall Street is concerned about Fannie and Freddie's need to raise capital and the possibility of a government bailout. Estimates for the cost of a bailout range from $25 billion to $100 billion.
Earlier this week, Freddie paid a steep borrowing premium when it issued $3 billion worth of five-year debt.
Oil: Higher crude prices could also pressure stocks. U.S. crude for October delivery climbed to $118.00 a barrel in electronic delivery. The September contract expired Wednesday.
Crude futures rose as traders continued to digest a U.S. inventory report released Wednesday. The report showed a build up in crude supplies but showed a bigger-than-expected decline in gas stockpiles.

Rebound off data inspired dip extends to $1.4840 area, setting a fresh high for the session with some extra fuel perhaps
provided by the extended gain in crude oil which is trading around $118.50 now. Dollar offers at $1.4835 absorbed on the move but further supply seen at $1.4850 and ahead of $1.4900.

The yen rose to the highest level in three months against the euro as European and Asian stocks slid on concern that credit-market losses are widening, reducing demand for higher-yielding assets funded by loans in Japan.
The yen advanced versus all 16 of the most-active currencies after the Financial Times reported Lehman Brothers Holdings Inc. failed to sell a 50 percent stake to investors. The dollar fell against the euro before industry and government reports that may show the U.S. economic outlook worsened in July for a third consecutive month and manufacturing in the Philadelphia region contracted.

EUR/USD printed high on $1.4830 before retreating to $1.4730. Later the rate returned to the session high. Bids $1.4735/30, stops below, bids $1.4710/00, offers $1.4835.

GBP/USD failed to break above $1.8700 and retreated to $1.8605. before stabelized at $1.8660.

USD/JPY fell from Y109.70 to Y108.40.

The Fed Bank of Philadelphia's general economic index, due at 14:00 GMT, will be minus 12.6 in August, from minus 16.3 in July, according to a survey of economists. Readings less than zero signal a decline in manufacturing and that would be the longest contraction since 2001.

Was on the rise into release of Canadian CPI, extending the recovery off earlier lows of C$1.0555, touching a high of C$1.0585 post release only to meet profit take supply. Rate currently trades back around C$1.0555, with traders noting the jump higher in the gold price.

Pullback, off earlier highs of $1.4832, extended to $1.4740, with rate currently trading back around $1.4785. Bids had been reported in place at $1.4735/30, with stronger interest noted close behind at $1.4720/10. More seen placed at $1.4700 with stops placed on a break below, which if triggered brings Wednesday's lows at $1.4672 back into view. Offers now reported at $1.4775/80, more between $1.4800/10.

The yen rose to the highest level in three months against the euro as European and Asian stocks slid on concern that credit-market losses are widening, reducing demand for higher-yielding assets funded by loans in Japan.
The yen advanced versus all 16 of the most-active currencies after the Financial Times reported Lehman Brothers Holdings Inc. failed to sell a 50 percent stake to investors. The dollar fell against the euro before industry and government reports that may show the U.S. economic outlook worsened in July for a third consecutive month and manufacturing in the Philadelphia region contracted.
The Federal Reserve Bank of Philadelphia's general economic index will be minus 12.6 in August, from minus 16.3 in July, according to a Bloomberg News survey of economists. Readings less than zero signal a decline in manufacturing and that would be the longest contraction since 2001.
``The yen has risen as concerns tick up about the health of financial companies worldwide and the outlook for the global economy'' said Paul Robinson, a currency strategist in London at Barclays Capital and a former Bank of England economist. ``These concerns are likely to remain simering which is going to keep the yen somewhat supported.''
The euro will rebound against the dollar as recent losses are excessive, said Tohru Sasaki, chief currency strategist at JPMorgan Chase & Co.
``The euro's decline against the dollar was a bit too fast,'' said Tokyo-based Sasaki at the third-largest U.S. bank. ``Investors have also piled up huge short-euro positions against the dollar. The markets are likely to correct those excessive positions.'' A short position is one that bets on a currency falling.
``The market has been showing a lot of complacency toward dollar-negative news and is now beginning to take a more balanced view of the risks,'' said Michael Klawitter, a currency strategist in Frankfurt at Dresdner Kleinwort, the investment bank owned by Allianz SE, Europe's biggest insurer. ``Ongoing concerns about the health of some U.S. financial institutions are harming the dollar.''
The U.S. currency has gained almost 8 percent versus the euro since touching an all-time low of $1.6038 on July 15 and appreciated 0.8 percent against the yen this month. The greenback has advanced as reports showed the European and Japanese economies shrank in the second quarter and crude oil fell around 20 percent from the record $147.27 a barrel reached July 11.
``The dollar has been recently heavily overbought despite deteriorating U.S. economic fundamentals,'' said Keiichi Iguchi, a currency dealer in Tokyo at Resona Bank Ltd., a unit of Japan's fourth-largest lender by market value. ``Weaker economic data could spark sharp dollar-selling'' as traders unwind their positions, he said.

Resistance 3: Y112.00
Resistance 2: Y110.70
Resistance 1: Y110.20
Current price: Y108.74
Support 1: Y108.40
Support 2: Y107.20
Support 3: Y106.60

Comments: Today the dollar fell against the yen on speculation credit- market losses will prompt the Federal Reserve to hold off from raising interest rates. Support at 6-days channel line on Y109.40 was broken and now rate targets Wednesday’s lows on Y108.35/40 and then – to Y107.20 (Aug 01 lows). Resistance comes on Y110.10 (the upper bound of the channel from Jul 15). Above there is a chance of testing Friday’s highs on Y110.70. Key resistance is around Y112.00/10 (channel line from Mar 2008).

Resistance 3: Chf1.1180
Resistance 2: Chf1.1080
Resistance 1: Chf1.1030
Current price: Chf1.0970
Support 1: Chf1.0880
Support 2: Chf1.0600
Support 3: Chf1.0720

Comments: Dollar corrects down Thursday after yesterday’s rally. Philadelphia Fed index is schedule to release today at 14:00 GMT with analysts predict index rebounded to -12.6 in August after -16.3 month earlier. In general, techs picture hasn’t changed. Support is near Tuesday/Wednesday’s lows on Chf1.0880/90 with stronger – on Chf1.0800 (23.6% of Chf1.0030 - Chf1.1030 rise). Channel support line from Jul 16 also passes here. Resistance is near yesterday’s highs on Chf1.1040 with a break above will open the way to Chf1.1100. Next band of resistance is around Jan 07 high on Chf1.1180/90.

Resistance 3: $1.8840
Resistance 2: $1.8780
Resistance 1: $1.8700
Current price: $1.8654
Support 1: $1.8620
Support 2: $1.8510
Support 3: $1.8300

Comments: GBP/USD following the euro in upward move after it held near multiyear’s lows Wednesday. Bearish tone of the Aug MPC’s minutes dragged the pound down yesterday as it said the inflation risks weakened recently. It cut market expectations as to the possible rate hike in the future. Rate breaks above the upper bound of the triangle pattern on hourly charts and getting close to $1.8700. Break above will target Aug 14 highs on $1.8780. Strong resistance may be mentioned around 23.6% Fibo on $1.8840 (of the $1.9930 - $1.8510 move). Support is around session low on $1.8600 with a break under will target the lower bound of the triangle at $1.8540. Stronger level is still near $1.8300 (38.2% of the rally from Jun 2001 lows at $1.3670 to Nov 2007 highs at $2.1160).

Resistance 3:$1.4950
Resistance 2: $1.4880
Resistance 1: $1.4820
Current price: $1.4775
Support 1: $1.4680
Support 2: $1.4630
Support 3: $1.4460
Comments: EUR/USD rebounds Thursday after yesterday’s sell-off amid German Minister of economy said the growth is “contained”. Last week’s report showed EU economy contracted 0.5% on quarterly basis in the second quarter, the first time for the last four years. Today’s resistance is near Wednesday’s high on $1.4820. Above than level the rise may extend to $1.4860/80 and $1.4950 (23.6% of $1.6030 - $1.4630 decline). Interim support comes near 2-days channel line on $1.4680 with stronger one – on Tuesday’s low at $1.4630. Key support comes at channel line from Jul 15 on $1.4460.

EUR/USD: $1.4750
USD/JPY: Y110.00, Y110.40, Y109.75, Y109.35/30, Y109.00
GBP/USD: $1.8650, $1.8710
USD/CAD: C$1.0625

EUR
Bids: $1.4750, $1.4720
Offers: $1.4825/30, $1.4850

JPY
Bids: Y108.60/40
Offers: Y109.50/60, Y109.80/85

GBP
Bids: $1.8620/00

Offers: $1.8700, $1.8725/35, $1.8750

AUSSIE
Bids: $1.8680/70

Offers: $0.8795/00

The dollar fell the most in more than a month against the yen on speculation a manufacturing industry contraction and credit-market losses will prompt the Federal Reserve to hold off from raising interest rates.
The U.S. currency also slid against the euro.
The yen climbed against the euro as faltering global growth and falling Asian stocks prompted traders to pare holdings of higher-yielding assets funded in Japan.

EUR/USD printed high on $1.4830 before retreating to $1.4788.

GBP/USD failed to break above $1.8700 and retreated to $1.4789.

USD/JPY fell from Y109.70 to Y108.60 before recovered a bit.

The Fed Bank of Philadelphia's general economic index, due at 14:0 GMT, will be minus 12.6 in August, from minus 16.3 in July, according to a survey of economists. Readings less than zero signal a decline in manufacturing and that would be the longest contraction since 2001.

Japan's benchmark stock indices ended Thursday's session lower. The benchmark Nikkei 225 was 99.48 points, or 0.77%, to stand at 12752.21. The broader-based TOPIX was lower by 8.84 points at 1224.53.

Stock market fixing:
Nikkei -13.36 -0.1% 12,851.69
Topix -2.17 -0.2% 1,233.37
FTSE +51.40 +0.97% 5,371.80
DAX +35.37 +0.56% 6,317.80
CAC +33.08 +0.76% 4,365.87
Dow +68.88 +0.61% 11,417.43
NASDAQ +4.72 +0.20% 2,389.08
S&P +7.85 +0.62% 1,274.54
10yr Note -0.4300 -0.112% 3.799%
NYMEX Crude Oil +0.45 +0.39% 114.98
Gold -0.50 -0.06% 816.30

Japan's stock on Wednesday falls, led by shipping lines. Japan's Topix stock index fell as a drop in transportation fees dragged down shipping lines, overshadowing a gain by oil explorers as crude rebounded.
Nippon Yusen K.K. tumbled 2.7% and led a gauge of shipping companies to its biggest drop in two weeks. Sony Corp. slipped 2.8% after the fewest U.S. home starts in 17 years sapped confidence in a recovery in the world's largest economy. Inpex Holdings Inc., Japan's biggest oil explorer, jumped to the highest in a month after crude rose a second day.
Nippon Yusen, Japan's biggest shipping company, slid 2.7%, while closest rival Mitsui O.S.K. Lines Ltd. sank 2.5%. Kawasaki Kisen Kaisha Ltd. tumbled 1.5%.
Sony retreated 2.8%, while Matsushita Electric Industrial Co., the world's biggest maker of consumer electronics, slumped 2.4%. Canon Inc., the largest digital-camera maker, dipped 2%.
Inpex added 2.5%, the highest since July 22. Sumitomo Metal Mining Co. surged 4.3%, after gold climbed for a third day.

European stocks rose for the first time in three days as mining shares near their cheapest in seven months lured investors and Hewlett-Packard Co.'s earnings spurred gains by chipmakers.
BHP Billiton Ltd. and Rio Tinto Group rose the most since Feb. 1. Infineon Technologies AG, Germany's largest semiconductor maker, climbed after Hewlett- Packard reported profit that topped analysts' estimates. Yara International ASA led chemical makers higher on Israel Chemicals Ltd.'s more than fivefold surge in profit.
BHP Billiton, which reported record earnings this week, rallied 6.7%. Rio Tinto, the world's third- largest mining company, gained 7.4%.
Infineon climbed 1.8%. STMicroelectronics NV, Europe's biggest chipmaker, rose 2.4 percent to 8.301 euros.
Yara, the world's largest fertilizer maker, climbed 3.9%, while K+S AG, Europe's largest producer of potash used in fertilizers, jumped 6.4%.
Israel Chemicals, which harvests minerals from the Dead Sea to make fertilizers and chemicals, said second-quarter profit rose more than fivefold on soaring potash prices.

Equities jumped as oil prices erase losses and turn lower. HP's earnings news overshadows Fannie and Freddie fears.
Stocks had fallen in the first hour of trade as oil prices jumped and Fannie Mae and Freddie Mac concerns overshadowed HP's earnings.
But the tone improved after the release of the government's weekly oil inventories. That report showed a stronger-than-expected jump in crude inventories, sending oil prices lower.

Hewlett-Packardreported higher quarterly sales and earnings that topped forecasts late Tuesday. The company also forecast that fiscal fourth-quarter earnings would top current expectations.
Mortgage finance companies Fannie Mae and Freddie Mac slumped for a third straight session on worries that a government takeover of the two companies is unavoidable.
Additionally, Goldman Sachs cut third-quarter and full-year earnings estimates on five brokerages, according to published reports, saying that more writedowns are on the way.

The euro fell to near the lowest level against the dollar in six months as Germany's economic outlook deteriorated and crude oil prices declined.
The pound approached a two-year low versus the dollar as minutes of the Bank of England's August meeting indicated British inflation risks may have ``eased a little'' while the outlook for the economy worsened. The dollar has risen 8 percent versus the euro from the record low set in July.
The British pound dropped on the Bank of England's economic outlook.
BOE policy makers split three ways when they kept the target lending rate unchanged earlier this month, minutes of the Aug. 7 meeting showed today.
The dollar briefly erased its gain versus the yen after the Wall Street Journal reported that executives of mortgage-finance company Freddie Mac are scheduled to meet with U.S. Treasury Department officials today.
The euro fell as Germany's Economy Ministry said in its monthly report that growth will remain moderate.

EUR/USD failed to break above $1.4800 and retreated to $1.4690. Later rate rebounded to $1.4760/65, but again retreated to new session lows around $1.4670. Later rate recovered amid dollar’s weakness to $1.4750.
GBP/USD was dragged down from $1.8680 to $1.8635 before recovered to $1.8640.
USD/JPY rose from Y109.60 to Y110.10 before set back at Y109.70.

UK retail sales report is due to come at 08:30 GMT, while Canada is set to release its inflation data at 11:00 GMT.
US Jobless Claims traditionally comes at 12:30 GMT.
ButmainfocuswillbeonPhillyFed’sindex. Analysts expect index rebounded to -12.6 in Aug after -16.3 month earlier.

Resistance 3: Y112.00
Resistance 2: Y110.70
Resistance 1: Y110.20
Current price: Y108.80
Support 1: Y108.40
Support 2: Y107.20
Support 3: Y106.60
Comments: Today the dollar fell against the yen on speculation credit- market losses will prompt the Federal Reserve to hold off from raising interest rates. Support at 6-days channel line on Y109.40 was broken and now rate targets Wednesday’s lows on Y108.35/40 and then – to Y107.20 (Aug 01 lows). Resistance comes on Y110.10 (the upper bound of the channel from Jul 15). Above there is a chance of testing Friday’s highs on Y110.70. Key resistance is around Y112.00/10 (channel line from Mar 2008).

Resistance 3: Chf1.1180
Resistance 2: Chf1.1080
Resistance 1: Chf1.1030
Current price: Chf1.0917
Support 1: Chf1.0880
Support 2: Chf1.0600
Support 3: Chf1.0720
Comments: Dollar corrects down Thursday after yesterday’s rally. Philadelphia Fed index is schedule to release today at 14:00 GMT with analysts predict index rebounded to -12.6 in August after -16.3 month earlier. In general, techs picture hasn’t changed. Support is near Tuesday/Wednesday’s lows on Chf1.0880/90 with stronger – on Chf1.0800 (23.6% of Chf1.0030 - Chf1.1030 rise). Channel support line from Jul 16 also passes here. Resistance is near yesterday’s highs on Chf1.1040 with a break above will open the way to Chf1.1100. Next band of resistance is around Jan 07 high on Chf1.1180/90.

Resistance 3: $1.8840
Resistance 2: $1.8780
Resistance 1: $1.8700
Current price: $1.8684
Support 1: $1.8620
Support 2: $1.8510
Support 3: $1.8300
Comments: GBP/USD following the euro in upward move after it held near multiyear’s lows Wednesday. Bearish tone of the Aug MPC’s minutes dragged the pound down yesterday as it said the inflation risks weakened recently. It cut market expectations as to the possible rate hike in the future. Rate breaks above the upper bound of the triangle pattern on hourly charts and getting close to $1.8700. Break above will target Aug 14 highs on $1.8780. Strong resistance may be mentioned around 23.6% Fibo on $1.8840 (of the $1.9930 - $1.8510 move). Support is around session low on $1.8600 with a break under will target the lower bound of the triangle at $1.8540. Stronger level is still near $1.8300 (38.2% of the rally from Jun 2001 lows at $1.3670 to Nov 2007 highs at $2.1160).

Resistance 3:$1.4950
Resistance 2: $1.4880
Resistance 1: $1.4800
Current price: $1.4779
Support 1: $1.4680
Support 2: $1.4630
Support 3: $1.4460
Comments: EUR/USD rebounds Thursday after yesterday’s sell-off amid German Minister of economy said the growth is “contained”. Last week’s report showed EU economy contracted 0.5% on quarterly basis in the second quarter, the first time for the last four years. Today’s resistance is near Wednesday’s high on $1.4800. Above than level the rise may extend to $1.4860/80 and $1.4950 (23.6% of $1.6030 - $1.4630 decline). Interim support comes near 2-days channel line on $1.4680 with stronger one – on Tuesday’s low at $1.4630. Key support comes at channel line from Jul 15 on $1.4460.

High Low Close
EUR/USD 1.4798 1.4670 1.4741
USD/JPY 110.26 109.60 109.85
GBP/USD 1.8685 1.8537 1.8611
USD/CHF 1.1041 1.0900 1.0987

EUR/JPY 162.58 161.42 161.95
EUR/GBP 0.7933 0.7896 0.7919
GBP/JPY 205.15 204.08 204.44
GBP/CHF 2.0494 2.0359 2.0447

Change % Change Last
Nikkei -13.36 -0.1% 12,851.69
Topix -2.17 -0.2% 1,233.37
FTSE +51.40 +0.97% 5,371.80
DAX +35.37 +0.56% 6,317.80
CAC +33.08 +0.76% 4,365.87
Dow +68.88 +0.61% 11,417.43
NASDAQ +4.72 +0.20% 2,389.08
S&P +7.85 +0.62% 1,274.54
10yr Note -0.4300 -0.112% 3.799%
NYMEX Crude Oil +0.45 +0.39% 114.98
Gold -0.50 -0.06% 816.30

08:30 UK Retail sales (July) -0.3% -3.9%
08:30 UK Retail sales (July) Y/Y 1.7% 2.2%
11:00 Canada CPI (July) - 0.7%
11:00 Canada CPI (July) Y/Y - 3.1%
11:00 Canada CPI excluding food and energy (July) - 0.0%
11:00 Canada CPI excluding food and energy (July) Y/Y - 1.2%
12:30 USA Jobless claims (week to 16.08) 435K 450K
14:00 USA Leading indicators (July) -0.3% -0.1%
14:00 USA Philadelphia Fed index (August) -15.0 -16.3
20:30 USA M2 money supply (09.08), bln - -8.8
23:50 Japan BoJ meeting minutes (14-15.07)