German Business Confidence and U.K. Retail Sales Sink

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

• [B]GBPUSD [/B]– U.K. retail sales fell 3.9% in June from a record high 3.6% the month prior, the most since at least 1986. The decline was led by a 6.9% drop in apparel purchases as many Britons started buying seasonal items in May due to abnormally warm weather. Food sales also declined 3.6% as costs for basic staples like rice remains at record levels. However, as long as inflation concerns remain the BoE may leave rates unchanged for the remainder of the year. Discuss the topic and your trade ideas in the GBP/USD Forum…
• [B]EURUSD [/B]– The July German IFO –business indicator fell to 97.5 from 101.3 the month prior, as rising inflation, higher interest rates and a slowing global economy weigh on business leaders. It was the lowest reading in almost three years for the survey of 7,000 executives. Meanwhile, the regions economy continues to show signs of slowing down as the Euro-Zone PMI composite fell to 47.8 from 49.3, the lowest level since March 2006. The downside risks of the economy may keep the ECB from another rate hike, especially with oil prices easing. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [B]USDJPY– [/B]Japan’s adjusted merchandise trade balance surplus decline to ¥138.6 billion from 362.2 billion as exports fell 1.7%. Slowing demand for cars and electronics worldwide saw demand fall to the lowest in more than four years. Rising inflation across Asia is weighing on emerging market demand which has been the source of growth for the country. Discuss the topic and your trade ideas in the USD/JPY Forum.

• [I]Housing Bill Will Extend Federal Role In Markets /I – Wall Street Journal
• [I] States Slammed By Shortfalls[/I] (link) – Wall Street Journal
• [I]Crude And Food Falls Help Lift Equities[/I] (link) – Financial Times
• [I]Euro Declines To Two-Week Low Against Dollar As Confidence Falls /I](Bloomberg - Are you a robot?)– Bloomberg
• [I] Credit Suisse Earnings Beat Analysts’ Estimates; Shares Climb[/I] (link) – Bloomberg