[B]Fundamental Headlines[/B]
• [B]USDJPY [/B]– Japanese consumer prices appreciated at its fastest pace in a decade on higher energy costs. Core prices validated inflation concerns by increasing by 1% since February. Additionally , the jobless rate unexpectedly rose to 3.9%. This will leave the BoJ in a difficult position as they consider cutting rates at the expense of rising inflation. For more news and resources please visit our Japanese Yen Currency Room.
• [B]GBPUSD [/B]– The U.K. economy grew slower than expected as GDP increased 2.8%, for the three months ending in December, falling short of the 2.9% expected. Manufacturing was flat, and financial services slowed to 0.6% from 1.3%. Recession fears are mounting as credit turmoil and a declining housing market has begun to weigh on consumer confidence. Speculation is gaining that the BoE will cut rates at their upcoming policy meeting, despite inflation potentially rising above their 3% threshold. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [B]EURUSD [/B]– The Retail PMI gauge fell to 48.2 from 52.2 in February. A strong Euro , record energy costs and rising inflation have eaten into consumer’s disposable income, leading to retailers missing targets throughout the region. Despite the slowdown in consumer consumption, the economy has proved resilient with confidence, manufacturing and labor markets holding strong. Theses factors have allowed President Trichet and the ECB to focus on battling inflation, but for how long.
• [I]Europe’s Central Banks Inject More Funds[/I] (link) – [I]Wall Street Journal[/I]
• C[I]onsumer Spending in the U.S. Probably Slowed in February[/I] (link) – [I]Bloomberg[/I]
• [I]Chinese exporters shun flagging dollar /I – [I]Financial Times[/I]
• [I]EU Expects Slowdown to Be Mild[/I] (link) – [I]Wall Street Journal[/I]
• [I]Crude oil prices rise after Iraq attack /I](Subscribe to read | Financial Times)– [I]Financial Times[/I]
