[B][U]Fundamental Headlines[/U][/B]
- [B]AUDUSD -[/B] Reserve Bank of Australia intervenes in the market for the first time in 6 years. Notes that financial markets are “extremely skittish”, but policy makers remain comfortable with recent rate hike of 25 basis points.
- [B]USDJPY -[/B] Japanese June leading economic index prints weaker than expected 72.7% versus consensus estimates of 80%. The disappointing figure was offset by a higher than expected 80% coincident measure.
- [B]Japanese department store sales[/B] plunge 3.9 percent on the year on year comparison as nationwide figures subsequently plummet. Recent figures counter positive growth from last month.
- [B]EURUSD -[/B] Wages rise 0.6 perecnt on the quarter over quarter comparison in France, meets consensus expectations. German July producer prices rise weaker than expected by 1.1 percent.
- [B]US Federal Reserve[/B] makes unscheduled announcement in New York morning. Cuts discount rate by 25 basis points.
-[B] Bear Stearns[/B] makes 240 position cuts at two home lending subsidiaries.
