[U][B]Fundamental Headlines
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• [B]USDJPY [/B]– Japanese retails sales rose 1.5% in January, for a sixth month, on higher automobile sales. The majority of the gain was inflated by near record fuel costs, which is eroding consumer purchasing power. Inflation and a deteriorating labor market is weighing on the Japanese economy, and leaves only Asian demand to drive the economy. Discuss the topic and your trade ideas in the USD/JPY Forum.
• [B]USDCHF [/B]– Swiss employment rose 2.7% in the 4Q for the 11th straight quarter, as companies are continue to hire to meet strong domestic demand. Despite the fact that the strong labor market is attracting worker from other European nations, the market remains tight and may fuel wage inflation. For more news and resources, visit the new Swiss Franc Currency Room.
• [B]EURUSD [/B]– European retail sales rose according to the PMI gauge which printed at 52.4 above the 50 boom/bust level for the first time in five months, signaling growth. A closer look at the components showed that there were gains in sales, value of goods and employment, all signs that the region is weathering a U.S. slowdown. Meanwhile, the German labor market showed signs of continued strength as their unemployment ranks decreased by 75,000 pulling down the employment rate to 8%-the lowest level in 15 years. This data will give ECB President Trichet all the ammunition he needs to maintain his hawkish stance, and refrain from cutting rates. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [I]Paulson Dismisses Mortgage Rescue Plans[/I] (link) – Wall Street Journal
• [I]Bernanke Hints at More Rate Cuts Amid Multiple Economic Risks [/I] (link) – Wall Street Journal
• [I]RBS Reveals Further £ 450m Losses From Turmoil /I – Financial Times
• [I]Regulator Lifts Cap On Fannie And Freddie /I – Financial Times
• [I]New York Faces Double Whammy As Swaps Compound Failed Auctions /I – Bloomberg
• [I]Sears Fourth-Quarter Profit Declines On Lower Sales[/I] (link) – Bloomberg
