All eyes will be on the UK this morning as Alastair Darling prepares to announce the UK’s pre budget report. The three month cable chart highlights that we are in the middle of the recent trading range, so expect to see some movement later on in the session. The Chancellor is due to speak at 1230


Market News
  - Revised Japanese GDP showed they grew at just 0.3% during the last quarter, worse than expected
  - Greece became the first country in the 16 nation Eurozone to see their debt rating cut to below single A status
  - The euro has fallen to five week lows against the dollar

Major Economic News

1500US wholesale inventories