European GDP Falls, As Inflation Stabilizes


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Fundamental Headlines[/B]

• [B]USDJPY [/B]– Japan’s service industry decline the most in four month’s. The Tertiary index fell0.8% room May as rising energy and food costs discouraged spending For more news and information visit Japanese Yen Currency Room.
• [B]EURUSD [/B]– GDP declined 0.2% in the second quarter led by declining growth in Germany, France and Italy. Meanwhile CPI remained flat at 4.0% on an annualized basis and fell 0.2% in July. Slowing growth and stabilizing prices could open the door for a ECB rate cut sooner than expected. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [B]USDCHF [/B]– Swiss Consumer confidence fell to the lowest level in four years to -17 from 2. The fastest inflation in fifteen years ahs eroded consumer’s purchasing power and could lead to a pull back in spending. Nevertheless, the SNB is expected to keep rates on hold as they prefer to use other methods to influence the economy. For more news and information visit Swiss Franc Currency Room.

• [I]Walmart Net Rises 17% As Shoppers Seek Deals[/I] (link) – Wall Street Journal
• [I]U.S. Inflation Hits 17Year High [/I] (link) – Wall Street Journal
• [I]BP Opens Georgia Gas Pipeline[/I] (link) – Financial Times
• [I]European Economy Shrinks As Spending And Investment Fall /I – Bloomberg
• [I]ECB Lending To Spain Rises To Record 49 Billion Euros[/I] (link) – Bloomberg