[U][B]Fundamental Headlines[/B][/U]
• [B]USDJPY [/B]– Japan’s tertiary index –which measures demand for services-declined 0.6% in December. It was the biggest drop in three months as higher oil prices curbed consumer and business spending. Also, pulling down the gauge was a reduction in stock trading. For more news and resources, visit the new Japanese Yen Currency Room.
• [B]USDCHF [/B]– Swiss retail sales expanded by 1.2% in December for the 19th straight month. Consumers are showing signs of tightening their wallets as food sales declined to 3.6% from 14.7% the previous month, and the total sales pace slowed from 2.9%. Swiss consumers are starting to feel the effects of higher inflation and a declining stock market. Therefore, overall economic growth is expected to slow to 2% this year from 2.5% in 2007
• [B]GBPUSD [/B]– U.K. Housing prices increased for the first time in four months, according to Rightmove Plc. Seller’s are anticipating greater demand after the BoE cut the benchmark interest rate two times to 5.25%.Nevertheless, the housing market isn’t showing signs of rebounding as homes are averaging 93 days on the market, an increase from 78 days a year earlier, and seasonal factors are helping to inflate prices. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [I]Northern Rock Takeover Marks Risky Bet For U.K.[/I] (link) – Wall Street Journal
• [I]Declaring Independence, Kosovo Triggers a Storm[/I] (link) – Wall Street Journal
• [I]Wheat Prices Surge To New High[/I] (link) – Financial Times
• [I]Euro Declines Against The Dollar As Noyer Sees Weaker EU Growth[/I] (link) – Bloomberg
• [I]U.K. House Prices Rise For First Time In Four Months /I – Bloomberg
• [I]Japan Service Demand Falls As Consumers Cut Spending /I – Bloomberg
