– US fiscal cliff concerns depress risk appetite and boost the JPY
– Philippines’ GDP much stronger than expected at 7.1%yoy
– Brazil likely to keep monetary policy unchanged
– US home sales likely to rise to 400k in October
What to watch for today
USD: More good housing news. Housing data are likely to push higher in October, with new home sales expected at 400k today, according to our economists. Consensus is set for a 390K reading.
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