Archived IMT (2008.11.11)

Global market fallout extends from Asia to Europe, favoring JPY across the board, with USD being the second best performer as the credit crisis forces broadening layoffs in and out of the US, further curtailng demand and dimming the earnings outlook. AUDUSD eyes 0.6580 and 0.6540, while GBPUSD eyes $1.5530. GERMANY's ZEW SURVEY due at 5 am EST is expected to show a slight in improvement to -60.5 from Octobers -62.7, which is well below the historical average of 27.5 points.