[B]Fundamental Headlines[/B]
• [I]Credit-Card Delinquencies Increase[/I] – Wall Street Journal
• [I]Supreme Court delays Chrysler sale[/I]– Financial Times
• [I]Paris and Berlin plan reforms push[/I]– Financial Times
• [I]JPMorgan Is Among 10 Banks U.S. Will Let Repay TARP in Show of Confidence[/I] – Bloomberg
• [I]BlackRock Said to Offer Cash, Stock for Barclays Unit [/I]– Bloomberg
[B]EURUSD [/B]– The German trade balance report showed that exports plunged by 4.8% as the economy continues to be impacted by slumping global demand. The surplus for the country shrunk from 11.3 billion to 9.4 bilion despite imports falling by 5.8%. Meanwhile, German industrial production unexpectedly dropped by 1.9% in April as capiotal goods fell by 6.4%. ECB rhetoric has left the door open for more easing from the central bank as they continue to refrain from confirming that a floor has been put in place. Discuss the topic and your trade ideas in the EUR/USD Forum.
[B]GBPUSD[/B] – The RICS house price index improved from -58.7% to -44.1% which was the highest reading since November, 2007. A similar rise in the DCLG house price indicator from -13.6% to -13% bolstered the case that the sector is stabilizing which had been mired in its worst downturn since the Great Depression. However, BoE member Tucker cautioned that despite early signs of a recovery it reamisn highly uncertain. Discuss the topic and your trade ideas in the GBP/USD Forum.
