Currency Updates:
U.S. Dollar Trading (USD) was predominantly range traded against a handful of currencies on Monday, before a late session rally in Wall Street pushed many currencies higher on positive risk. Citigroup shares rose more than 5%, following a better than expected earnings report, ensuring that the Dow Jones rose by 80.9 points (+0.7%), S& P up 0.42%, whilst the NASDAQ was also higher by 11.89 points (0.48%). In domestic news, Industrial Production had fallen by -0.2% versus forecast of a +0.2% gain for the month of September. The USD lost further ground as Fed Member Lockhart did indicate a move to easing overnight by stating & ldquo I am leaning in favour of additional monetary stimulus& hellip & rdquo . Housing data is scheduled for release on Tuesday with both Building Permits and Housing Starts due.    
The Euro (EUR) shrugged off selling pressure for much of the Asian session to close the day above last week& rsquo s level. ECB President Trichet said the central bank will continue to purchase bonds, and a possibility of extending the program. The EURUSD traded with a low of 1.3832 and a high of 1.3998 before closing the day at 1.3986. Focus shifts to EU Current account and the German ZEW survey on Tuesday.
The Japanese Yen (JPY) was largely subdued on Monday trading within a tight range, albeit below mid-September intervention levels. The USDJPY traded with a low of 81.13 and a high of 81.47 before closing the day at 81.16.
The Sterling (GBP) remained pressured for much of the trading day, ahead of UK governments spending review on Tuesday, and growing expectation of a third installment of stimulus. The GBP traded with a low of 1.5838 and a high of 1.6003 before closing the day at 1.5934
The Australian Dollar (AUD) began the trading week under pressure in Asia, trading below Friday&rsquo s lows.   The AUD traded with a low of 0.9802 and a high of 0.9944 before closing the day at 0.9933. RBA Minutes on Tuesday have indicated that the decision to keep rates on hold in October meeting was finely balanced, leaving scope for future rate hikes. AUD had once again traded above 0.9950 following the publication of the RBA minutes.
Oil & Gold (XAU) XAU moved higher ending the day at US$1,372.60, doing well to shrug off early day selling pressure. Oil rebounded to take advantage of a weaker dollar, up by US$1.83 to trade at US$83.08 a barrel.
