Forex News: National City To Get Cash Infusion


[U][B]Fundamental Headlines[/B][/U]

• [B]USDJPY [/B]– The Japanese Tertiary Index fell 1.7% in February, against expectations of -0.5%. The gauge, which measures consumer spending on services, showed consumers were getting squeezed by rising food and energy costs. Convenience store sales also fell in March as consumer purchasing power is diminishing. For more news and resources, visit our Japanese Yen Currency Room.
• [B]AUDUSD [/B]– Australian producer prices increased by a record 1.9% in the first quarter. Producers had to contend with increasing costs in gasoline, construction and dairy products. The cost pressures are expected to be passed on to consumers, accelerating inflation. The RBA may have to maintain its benchmark rate at its current 12 year high of 7.25% , despite the restraining affect that it is having on the economy. For more news and resources, visit our Australian Dollar Currency Room.
• [B]GBPUSD [/B]– U.K. house prices fell 0.1% in April as sellers succumbed to weakening demand. Homebuyers diminished as tight credit markets made it too formidable to obtain loans. The BoE has announced a plan to bail out the mortgage industry by buying 50 billion pounds in mortgagee backed securities. The move is expected to free up banks to make future loans. Discuss the topic and your trade ideas in the GBP/USD Forum.

• [I]Natcity Close To $6 Billion Cash Infusion /I – Wall Street Journal
• [I]Bank of England’s Swap Plan Aims To Jump Start Lending [/I] (link) – Wall Street Journal
• [I]UBS Details Subprime Losses[/I] (link) – Financial Times
• [I]RBS Plans Fund To Transfer $2.3 Billion Loan Risk, People Say /I – Bloomberg
• [I]Dollar Drop Slows With G-7 Blessing; Shows No Endgame /I – Bloomberg