• [I]Details Set for U.S. Financial Revamp[/I] – Wall Street Journal
• [I]Citi and IFC in global trade funding alliance[/I] – Financial Times
• [I]G8 finance ministers see crisis easing[/I] – Financial Times
• [I]Kudrin Shows Dollar Has No Rival as World Currency While BRIC Leaders Meet[/I] – Bloomberg
• [I]Bank of England May Need to Print More Money as Economy Stalls, CBI Says [/I]– Bloomberg
EURUSD – Euro-zone employment in the first quarter fell by 0.8% which was the biggest drop since record keeping began in 1995. The sharp drop dragged the annualized reading to -1.0% as companies continue to layoff workers in the face of the current recession. The troubles in the region are forecasted to continue which raised questions at this past weekend’s G-8 meeting of whether European banks were capitalized enough to meet the challenges. European governments are resisting calls to perform a stress test similar to the U.S. for fears that the different structures will make it difficult to from a comparison. These concerns could be a weighing factor if the economy continues to show signs of contraction. The Discuss the topic and your trade ideas in the EUR/USD Forum.
USDCHF – Swiss producer & import prices fell 5.0% in May on an annualized basis which was the most in more than two decades. Energy products fell by 113.% as oil prices are still 50% lower than a year ago despite its recent rise. However, the uptrend in commodity prices may start to lead to an increase in inflation which was a concerned expressed by global leaders at the G-8 meeting. Discuss the topic and your trade ideas in the GBP/USD Forum.