Euro Falls On Fisher's Comments And Increased German Unemployment

[DailyFx]

Fundamental Headlines

• USDJPY – Japanese retail sales increase 0.1% in April on an annualized basis, which was the slowest pace in nine months. Consumer confidence has sunk to a nine year low ass rising inflation is outpacing wage growth. Sales at department stores, supermarkets and convenience stores all declined. For more news and resources, visit our Japanese Yen Currency Room.
• GBPUSD – Home Prices in the U.K. fell 2.5% in May , the most since at least 1991, according to Nationwide Plc. Banks have continued to tighten lending standards which has weighed on demand. BoE Governor King has predicted that prices will continue to fall, as mortgage approvals dropped in April by 39% from a year earlier. Nevertheless, the central bank’s concern’s over rising inflation are expected to keep them from raising rates in the near-term. Discuss the topic and your trade ideas in the GBP/USD Forum.
• EURUSD – European Retail PMI rose to 53.1 from 41.8 in April, led by purchases of food and clothing, which improved from 40.2 to 69.2 and from 39.8 to 73.9 respectively. Meanwhile, a separate report showed German unemployment increase for the first time since January, 2006 with 4,000 more applicants, which may impact consumer consumption going forward. The improved retail sales will allow the ECB to remain hawkish and increase the chances of a future rate hike. Discuss the topic and your trade ideas in the EUR/USD Forum.

• Oil Exporters Are Unable To Keep Up With Demand (link) – Wall Street Journal
• Study Casts Doubt On Key Rate (link) – Wall Street Journal
• Investors Increase Bets On U.S. Rate Rise (link) – Financial Times
• Dollar Rises to 1-Week High Against Euro On Fisher Rate Signal (link) – Bloomberg
• OECD Boosts Price Outlook For Wheat, Corn On Food Fuel Demand (link) – Bloomberg