"I didn't exclude a further cut in December, depending on the data, depending on the information that will be gathered, depending on the (economic) projections that we could examine at the time, including of course the staff projections." - ECB President Jean-Claude Trichet.
"Market conditions are starting to respond to these policy actions, but even with their rapid implementation, financial stress is likely to be deeper and more protracted than envisaged (in October)." - IMF statement.
"It looks like the financial market crisis that hit us full force in September is starting to have a knock-on effect on Main Street and it's leading corporations to tighten their belts and start to cut staff." - Chris Rupkey, chief financial economist with Bank of Tokyo-Mitsubishi UFJ in New York.

Friday, Nov 7
WASHINGTON - The U.S. Labor Department issues Employment Situation for October at 1300 GMT.
WASHINGTON - The U.S. Commerce Department issues Wholesale Inventories for September at 1500 GMT.
SEOUL - Bank of Korea holds monthly-rate-setting meeting
Release of German September trade data
Release of Swiss October jobless data

(Compiled by World Desk, Asia, +65 6870 3815)

Keywords: SNAPSHOT Financial Crisis 0030 GMT

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