The dollar’s share of foreign currency reserves fell to its lowest level since the introduction of the euro in 1999. It share is now 62.8% while the euro gained to 27.5%. The dollar obviously is still the main reserve currency, but we are seeing diversification, albeit slowly. Increased willingness by foreign countries to hold the euro will provide for euro strength and dollar weakness long term. The US market is down this morning on the purchasing report concerns, but Lockhart reaffirmed the Fed’s need to keep the status quo in the monetary arena – probably helping to prop up the euro’s continued strength. Looking at employment numbers today and then monitoring for tomorrow: 02:30 SW Sep manufacturing PMI; 04:00 NO Sep unemployment; 04:00 EZ Sep-F manufacturing PMI; 04:30 UK Sep manufacturing PMI; 05:00 EZ Aug unemployment; 05:00 GE Aug retail sales; 08:30 US initial claims and Aug personal income/spending; 10:00 US Sep ISM & Aug construction; afternoon US Sep vehicle sales; 19:30 Aug JP jobless rate.