Chancellor Angela Merkel claimed it is essential to comprise political coalition in Europe to ensure bondholders that euro-region officials are sober about tackling debt turmoil. Merkel emphasized that all 17 euro zone countries should stick to common currency, though serious changes in current policy should be implemented. Chancellor also suggested EU and euro region should grow simultaneously in order to regain bondholders' confidence.
USD
In view of the global economic problems participants of the APEC summit agreed that further liberalization of trade is of critical importance for sustainable growth in future. At summit US president discussed US enlargement plans in Asia-Pacific region and his free-trade agreement, called Trans Pacific Partnership. Other North American countries as Canada and Mexico also are interested in joining Asian-Pacific free-trade zone.
GBP
A slow and painful contraction is forecasted for the UK jobs market, as firms are likely to postpone new recruitment activities, a report released today says. UK employers mostly apply "watch and wait" strategy regarding the economy. On the other hands, CIPD report claimed that fewer companies are planning to relocate from UK or to start lay-offs.
JPY
Japanese economy experienced growth for the first time since earthquake in March 11. Recovery was mainly boosted by increase in exports. According to Cabinet Office in Tokyo, Gross Domestic Product added annualized 6% from July 1 to September 30. Economic output of ВҐ543 trillion reached pre-earthquake level. Nevertheless, Kiichi Murashima, Citigroup Global Markets chief economist in Japan, predicts GDP to slow down in the 4th quarter amid weakening global demand and appreciation of yen.
CHF
Official SNB exchange rate for EUR/CHF is at CHF 1.2375 today; 3-month LIBOR CHF increased to 0.05% (within target range of 0.00-0.25). Yields for 10-year Swiss Confederation bonds rose to 0.94% today. SMI stock index has lost 0.04% since, and is currently fluctuating around 5647 points.