[U][B]Fundamental Headlines[/B][/U]
• [B]EURUSD – [/B]The economic outlook for Germany remains bleak as consumer confidence declined to the lowest level in five years. GfK AG’s index fell to 2.1 for August from 3.6 in July, the lowest level since June 2003. Soaring energy prices coupled with upwards inflationary pressures have diminished consumer purchasing power. Additionally, record food prices and the U.S. housing slump has decreased demand for exports, also squeezing the economy. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [B]AUDUSD – [/B]Australian new home sales rose 4.0 percent in May, fueled by record immigration. Despite an increase in living costs, the resources boom in Western Australia has attracted new workers. Overall home sales have risen just 0.4 percent over the first half of 2008, amid record fuel prices and inflation levels currently at a 12-year high. For more news and resources, visit our Australian Dollar Currency Room.
• [B]NZDUSD[/B] – New Zealand’s trade deficit shrunk to NZ$4.48 billion in the year ending June 30, amid a curbed demand for imports and an unexpected rise in exports. The slight turnaround for the contracting economy was unforeseen, as the Bloomberg survey of economists predicted a NZ$4.64 billion fall. As domestic demand cools, New Zealand has faced slowing growth throughout the first half of the year, dropping the economy into its first recession since 1998. For more news and resources, visit our New Zealand Dollar Currency Room.
• [I]KKR Slates Public Offer to Rescue an Affiliate /I – Wall Street Journal
• [I] SEC Intensifies Efforts to Rein in Short Selling[/I] (link) – Wall Street Journal
• [I]MPs Seek Windfall Tax on Energy Profits[/I] (link) – Financial Times
• [I]European Stocks, U.S. Futures Fall; Banks, Airlines Lead Drop /I](Bloomberg - Are you a robot?)– Bloomberg
• [I] Hedge Funds May Post Worst Month in 5 Years as Bank Bets Sour[/I] (link) – Bloomberg
