FTN Financial Comments Productivity Report One More Reason Not To Worry About Wage Inflation []

FTN Financial Comments Productivity Report One More Reason Not To Worry About Wage Inflation []
Chris Low from FTN Financial commented on Wednesday morning that in the US, productivity grew 4.9% in the third quarter, enough to lift the year-on-year rate of growth from 0.7% to 2.4%. He stated that FTN has reservations about the accuracy of the official productivity statistics, noting that they are so often at odds with the evidence in corporate profits data.

Greenback Falls Towards Three-Month Low Versus Kiwi [NZD/USD]
The greenback slipped sharply against the New Zealand dollar in mid-morning trading. The U.S. currency slipped at around 9:45 a.m. ET and has moved to 0.7878, just off a three-month low.

Dollar Little Changed Versus Euro Minutes After Energy Inventories Data; Stays Near Record Low [EUR/USD]
The dollar saw little movement versus the euro after the release of Wednesday morning's highly anticipated US energy inventories data at 10:30 am ET. Crude inventories fell by 826,000 barrels, less than expected by analysts. The dollar was at 1.4672 at 10:33 am, having firmed up from a 9 am record low of 1.4729.

European Markets Rise, Led By Banks - European Commentary []
The European markets rose on Wednesday, as banking stocks rallied after Deutsche Bank reported higher third quarter earnings and reiterated its 2008 pre-tax earnings forecast.

Citigroup Slays The Bulls - U.S. Commentary []
Citigroup (C) continues to act as a drag on financials and the broader market on Monday after the investment bank warned of additional write-downs of assets due to the turmoil within the credit and housing markets.

Swiss Franc Mostly Strong In Wednesday's Trading [USD/CHF]
The Swiss currency was mostly strong against its counterparts in trading on Wednesday morning in New York. The currency saw strength against its American and European counterparts, but moved little against the yen. The franc traded with little economic news from the area.

Sterling Races Above $2.10 For First Time Since 1981, Snaps Back Versus Euro And Yen [GPB/USD]
The sterling moved above the 2.10 mark versus its embattled US counterpart Wednesday morning in New York. The sterling raced higher in early dealing, peaking at around 9 am ET before the release of much-anticipated US energy inventories data.