[U][B]Fundamental Headlines[/B][/U]
• [B]USDJPY[/B] – The BoJ released a balanced statement in their minutes from their last policy meeting, citing concerns fro slowing growth and the upside risks of inflation. Meanwhile, department store sales fell for a third month at -2.7% led by clothing and household goods. Discuss the topic and your trade ideas in the USD/JPY Forum.
• [B]USDCHF[/B] – The Swiss Zew survey of investor confidence fell to -63.8 from -60.4 in May. Slowing global growth and expectations of increasing interest rates in Europe, the country’s largest export market dimmed the outlook for the next six months. Additionally, rising inflation is expected to weigh on domestic growth leaving the SNB in a tough situation. They are expected to leave their benchmark interest rate unchanged at tomorrow’s policy meeting. For more news and resources, visit our Swiss Franc Currency Room.
• [B]GBPUSD[/B] – The BoE voted 8-1 to leave interest rates unchanged at their last meeting with dove David Blanchflower the lone dissenter. The MPC warned of the upside risks of inflation which breached their 3% threshold. Meanwhile, the CBI industrial trends report rebounded from -10 to 1 as the sector shows some life after consecutive double digit declines. Improvements in export orders and output lead the way. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [I]Fed Faces Dilemma As Costs Soar, Activity Slows[/I] (link) – Wall Street Journal
• [I]EU Rethinks Farm Subsidies, Seeks More Production[/I] (link) – Wall Street Journal
• [I]US Floods Hit Food Prices[/I] (link) – Financial Times
• [I]Swiss Investor Confidence Falls on Expectations of Rising Rates[/I] (link) – Bloomberg
• [I]BOE Voted 8-1 for 5% Rate; Some Considered Increase[/I] (link) – Bloomberg
