[U][B] Fundamental Headlines[/B][/U]
• [B]NZDUSD[/B] – New Zealand retail sales fell the most in four years on slumping autonmobile sales. The headline reading dropped 1.2% in May after a 1.0% gain the month prior. Yet, the core reading excluding cars and fuel, rose 0.7% demonstrating the effect of rising oil prices on the economy. Nevertheleess, as the economy aporoaches a recession, the RBNZ may be forced to consider a rate cut despite rising inflation.For more news and resources, visit our New Zealand Dollar Currency Room.
• [B]EURUSD[/B] – European industrial production fell 1.9% in May, which was the most in almost 16 years. A strong Euro and slowing global growth has seen demand for the region’s expoirts diminish. Although the reading was better than the predicted 2.3% decline, it underlines the slowing growth in the economic union. Therefore, the ECB may be unable to continue to hike rates as they tried to maintain price stability. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [B]GBPUSD[/B] – U.K. Prices at the factory gate in June rose 10% from 9.3% the month prior, which was the fastest pace since 1986. Manufacturers are passing on the increased costs of oil and raw materials to consumers, which should keep inflation above the BoE’s 3% threshold for the remainder of the year. The only good news for the central bank was that the pace of input prices slowed to 2.1% from 3.9% the month prior, which may signal that prices may ease in the future. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [I]Treasury and Fed Pledge Aid for Ailing Mortgage Giants /I – Wall Street Journal
• [I]Anheuser, InBev Reach a Deal for $52 Billion[/I] (link) – Wall Street Journal
• [I] A&L Surges on Santander Offer /I – Financial Times
• [I] European Industrial Output Falls the Most Since 1992 /I – Bloomberg
• [I] Petrobras Oil Workers Strike; Production Cut Expected /I – Bloomberg
