[U][B]Fundamental Headlines[/B][/U]
• [B]USDJPY [/B]– Japanese machine orders rose 5.5% in April from a decline of 8.3% the month prior. The rebound was led by a 99.8% increase in oil and coal machinery orders, as record oil prices inspired investment in the sector. Nevertheless, the outlook for manufacturing remains flat as global demand for automobiles continues to decline. For more news and resources, visit our Japanese Yen Currency Room.
• [B]EURUSD [/B]– German wholesale prices rose 8.1% in May after appreciating 6.9% the month prior. It was biggest increase since 1982. The inflation data supports President’s Trichet’s hawkish stance and brings the ECB closer to raising rates at its next meeting. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [B]GBPUSD [/B]– U.K. industrial production rose 0.2% in April from a 0.5% decline the month prior. A weakening pound has made British exports more attractive, especially in Europe. The Sterling hit an all-time low against the Euro in April, its biggest trading partner. Meanwhile, housing remained week as the RICS House Price Balance showed that 92.9 percent more of its members reported falling prices. Discuss the topic and your trade ideas in the GBP/USD Forum.
[I]• Bernanke Unshaken by Jobless Rise[/I] (link) – Wall Street Journal
• [I]More Pain Ahead For UBS?[/I] (link) – Wall Street Journal
• [I] IEA Says High Oil Prices Needed To Cap Demand /I – Financial Times
• [I] Treasuries Slump After Bernanke Fans Speculation Rates To Rise /I – Bloomberg
• [I] German Wholesale Prices Rise The Fastest In 26 Years[/I] (link) – Bloomberg
