[U][B]Fundamental Headlines[/B][/U]
• [B]USDJPY [/B]– Japanese supermarket sales rose 1.4% in March, for the second consecutive month. Last month’s 1.9% increase was the first gain in two years. Despite the recent rebound, expectations are that Japanese consumers are starting to curb their spending as they battle rising food and energy costs. This has been evident with convenience store sales and demand fro services declining. The BoJ is expected to keep their benchmark rate unchanged, despite the growing effects of the credit crisis and U.S> downturn on its economy. For more news and resources, visit our Japanese Yen Currency Room.
• [B]USDCHF [/B]– The Swiss trade balance surplus contracted slightly to 1.25 billion from 1.50 the month prior. Despite seeing declines in both exports and imports, the Swiss economy has remained one of the strongest. Expectations are the country will experience above average growth in the first quarter, as its product specialization and strong currency allow it to navigate through the current global downturn. For more news and resources, visit our Swiss Franc Currency Room.
• [B]EURUSD [/B]– German bank Duesseldorfer Hypothekenbank has been taken over by the German banking association until the lending institution can be sold. The move follows the comments from ECB President Trichet that the financial market crisis is far from over. Meanwhile, the Italian trade balance in March narrowed to -1212 from a revised -1313 the month prior. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [I]New Threat Loan Losses /I](New Threat: Loan Losses - WSJ)– Wall Street Journal
• [I]RBS Takes Further Write-downs, Plans $23.78 Billion Rights Issue /I – Wall Street Journal
• [I] Opec Supply Concerns Push Oil Above $117[/I] (link) – Financial Times
• [I]SunTrust Quarterly Profit Falls 45% on Provisions For Bad Loans /I – Bloomberg
• [I]Duesseldorfer Hypo Rescued by Bank Group After Crisis /I – Bloomberg
