[B][U]Fundamental Headlines[/U][/B]
• [B]USDCHF[/B] – The February Swiss SVME-PMI gauge- which measures-manufacturing- declined to 60.5 from 61.6 the month prior. Swiss manufacturing growth is slowing due to declining global demand and record energy costs. The SNB is forecasting that the slowdown will reign in inflation, which may lead to them cutting the benchmark interest rate by year’s end. For more news and resources please visit our Swiss Franc Currency Room.• [B]GBPUSD[/B] – U.K. manufacturing as measured by the PMI gauge rose more than expected to 51.3 from 50.7 in January. Manufacturers received a boost from the pound’s decline against the Euro, making their goods more competitive. This should allow the BoE to keep rates unchanged at their Mach 6th meeting, as expected. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [B]EURUSD[/B] –European Manufacturing growth slowed in February, as the PMI reading fell to 52.3 in February from 52.8 the month prior. Record energy costs and a soaring Euro have made European exports less competitive. Additionally, inflation remained at a record pace, as the CPI estimate printed at 3.2% for a second month, keeping pressure on the ECB to keep rates unchanged despite their slowing economy. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [I]Tokyo Stocks Slip Following Yen Rally[/I] (link) – Wall Street Journal
• [I]Wall St Gears For Its New Pain[/I] (link)– Wall Street Journal
• [I]London And Europe Join Global Equity Sell Off[/I] (link) – Financial Times
• [I]Trichet Rate-Cut Resistance Empowered by Eastern European Trade[/I] (link) – Bloomberg
• [I]Auction Supply “Tsunami” Foreshadows Deeper Municipal Losses[/I] (link) – Bloomberg