[U][B]Fundamental Headlines[/B][/U]
• [B]USDNZD [/B]– New Zealand retail sales rose 0.9% in June on higher automobile and fuel sales . Purchases rose from a 1.1% decline May, however the quarterly report minus inflation showed a 0.7% decline, which was the biggest decline in 13 years. The New Zealand economy is rapidly heading into a recession, which led to the RBNZ cutting their benchmark rate by a quarter point at their last meeting. Falling commodity prices will weigh further on the economy and may force the central bank to cut deeper at their next rate decision. For more news and information visit New Zealand Currency Room.
• [I] World Economy Shows New Strain[/I] (link) – Wall Street Journal
• [I]Data Raise Questions On Role Of Speculators /I – Wall Street Journal
• [I]Gold Slumps Below $800 As Dollar Extends Rally[/I] (link) – Financial Times
• [I]Pound Declines 11th Day Versus Dollar, Sliding For Fourth Week[/I] (link) – Bloomberg
• [I] Drivers Spend More On Fuel Than Cars For First Time Since 1982 [/I] (link) – Bloomberg
