Currency Updates:
U.S. Dollar Trading (USD) slipped against a basket of currencies as FOMC minutes of the 21st of September meeting confirmed members discussed several approaches to aiding a struggling recovery. The minutes highlighted the fact that policy makers are prepared for another installment of stimulus in the near term. The Minutes also made a concerted effort to adjust its statement that underlying inflation had been below levels consistent with its mandate. In US share markets the Dow Jones moved higher by 10.6 points (0.09%), S& P rose 0.27% and the NASDAQ rose by 15.59 points (0.65%). Fed Reserve Chairman Ben Bernanke is scheduled to talk on Wednesday, with Q& A sessions on the agenda the market will pry into when QE2 will eventuate.
The Euro (EUR) regained its foothold against a broadly weaker dollar following talk of QE2. Adding to Euro strength, ECB& rsquo s Weber declared Europe was on a steady path to recovery, contrary to a widely reported market perception. In data news German CPI figures were released largely on expectation at -0.1% for the month of September.   The EURUSD traded with a low of 1.3774 and a high of 1.3932 before closing the day at 1.3914.
The Japanese Yen (JPY) continues to target record highs of 79.75 versus the dollar, despite household confidence easing to 41.2 on Tuesday and MOF comments that intervention will continue to be an option to prevent excessive JPY strength, the USDJPY continues to trade at 15 year lows. The USDJPY traded with a low of 81.66 and a high of 82.34 before closing the day at 81.83.
The Sterling (GBP) despite reports of 3rd quarter growth being excessively slow, UK CPI figures were released at 3.1%, above the BoE 3% upper limit. Confusion on the outlook of the UK economy remains following poor Retail Sales and House prices on Tuesday, ensuring the GBP was the worst performing currency against a broadly weaker dollar. Overall the GBP traded with a low of 1.5760 and a high of 1.5916 before closing the day at 1.5793.   
The Australian Dollar (AUD) shrugged off negativity of tighter credit conditions in China, following a rise in reserve requirement, seen for much of the Asian session, to take advantage of a battered dollar on speculation of an eventual second round of stimulus in the US. In domestic news, Business confidence fell slightly to 10 from previous 11 on Tuesday. THE AUDUSD traded with a low of 0.9768 and a high of 0.9877 before closing at 0.9863
Oil & Gold (XAU) XAU eased by US$7.70 to trade at US$1,346.70, whilst Oil traded lower for second successive day falling by US$0.54 to trade at US$81.67 as OPEC indicated that output targets will remain steady.
