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Fundamental Headlines
• AUDUSD – Australian Business confidence fell to the lowest since 9/11 due to rising interest rates and a slumping stock market, as the index dropped nine points to minus 4 - the first negative reading in six years. For more news and resources, visit the new Australian Dollar Currency Room.
• GBPUSD – UK consumer prices declined 0.6 percent from December, but rose to 2.2 percent from a year earlier. The fall in inflation was due in part to the mass discounting of apparel during the post Christmas shopping season. Regardless, UK consumers are battling record food and oil prices which should keep inflation above the 2 percent target level for sometime and should prevent the BOE from quickening its pace regarding rate cuts. Discuss the topic and your trade ideas in the GBP/USD Forum.
• EURUSD – The German ZEW Survey showed that investor confidence regarding future prospects improved as the index unexpectedly printed higher at minus 39.5, up from last month’s 15 year low of minus 43. The data suggests that the European economy may be more resilient than expected. However, the current situation survey dropped sharply to 33.7 from 50, as the ECB remains hawkish despite mounting downside risks to growth. Discuss the topic and your trade ideas in the EUR/USD Forum.
• Student-Loan Issues Under Stress (link) – Wall Street Journal
• Microsoft Stands by Yahoo Bid (link) – Wall Street Journal
• [I]AIG Puts Two-Month Subprime Loss at $5bn /I – Financial Times
• German February Investor confidence Unexpectedly Rose (link) – Bloomberg
• U.K. January Inflation Quickens to Seven-Month High (link) – Bloomberg
Podcast by Terri Belkas, Currency Analyst, Forex Capital Markets LLC, DailyFX.com
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