Archived IMT (2008.10.31)

US equities seen extending selling on further evidence of softening US inflation and bleak consumer/manufacturing data. Sep personal spending fell 0.3% while Oct Chicago PMI hit a 7-year low of 38. Next week's employment payrolls could show a decline of as much as 250K and the unemployment rate may jump to 6.5% fro, 6.1%. EURUSD attempts recovering towards $1.2780, facing Interim resistance at $1.2830. Downside seen providing foundation at $1.2670. GBPUSDs brief recovery to $1.6230 in last 4 hours is seen tapering off for fresh selling towards $1.61, followed by $1.6030. Fed Chairman Bernanke to speak at 2 pm on "Mortgage Finance".