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[U][B]Fundamental Headlines[/B][/U]
• [B]NZDUSD [/B]– New Zealand credit card sales fell 0.1%, as record high interest rates and a declining housing market curb consumer spending. The RBNZ has kept their rate at the record 8.25% in order to keep to reign in inflation, which is expected to remain above their target until next year. For more news and resources please visit our New Zealand Currency Room.
• [B]GBPUSD [/B]– The BoE voted 7-2 not to cut rates as John Gieve and eternal dove David Blanchflower dissented. The majority said that the balance of risks didn’t warrant another cut, fearing that it would signal that inflation wasn’t a focus of their attention. The minority Gieve and Blanchflower, voted in favor of further reductions, on fears that current market turmoil increased the downside risks to the economy. Meanwhile, jobless claims fell for the 17th month by 2,800, but less than the 5,000 expected. Current market turmoil will only increase the odds of future easing. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [B]EURUSD [/B]– The Eurozone trade balance deficit widens to 10.7 billion, as exports to the U.S. declined for the first time in four year’s. The largest deficit this decade was fueled by the diminishing competitiveness of European exports, as the Euro has appreciated to record highs against the dollar. Expectations are that exports will continue to decline as the U.S. downturn starts to weigh on the global economy. Will Central Banks intervene to strengthen the dollar? Discuss the topic and your trade ideas in the EUR/USD Forum.
• [I]Credit Worries Ease As Fed Cuts, Hints At More Relief /I – Wall Street Journal
• [I] Firms Wrestle With Loans Stigma /I– Wall Street Journal
• [I] Goldman Sachs and Lehman Lift Gloom[/I] (link) – Financial Times
• [I]BoE Panel Defeated Gieve, Blanchflower Rat e- Cut Votes[/I] (link) – Bloomberg
• [I]Dollar Falls On Speculation Housing Slump To Swell Bank Losses[/I] (link) – Bloomberg
