[U][B]Fundamental Headlines[/B][/U]
[I]• GM in Last Lap to Chapter 11 – Wall Street Journal
• Fed Holds Steady as Rates Rise in Market – Wall Street Journal
• Fiat pulls out of Opel talks– Financial Times
• Bernanke’s Bid to Revive U.S. Housing Scuttled by Climbing Rates, Defaults – Bloomberg
• Indian Expansion, Rise in Japan Production Add to Signs Worst May Be Over – Bloomberg[/I]
[B]EURUSD[/B] – German retail sales in April increased for the first time in four months by 0.5% after a 0.4% decline the month prior. Warmer weather and the Easter holiday helped drive demand which could make this month’s figures misleading. Meanwhile. the Euro-Zone CPI-Estimate fell to 0.0% which was the lowest on record as slowing growth continues to force producers to lower their costs. Deflation concerns remain for the region but ECB officials don’t appear to concerned despite acknowledging that inflation will remain below their 2% target for sometime. Discuss the topic and your trade ideas in the EUR/USD Forum.
[B]GBPUSD[/B] – Nationwide LLC reported that home prices jumped 1.2% in May as thawing credit markets have started to fuel demand. The worst houses downturn since the Great Depression has helped drag the economy into contraction and if we see the sector start to stabilize then the prospects for growth will brighten. However, consumer confidence remained flat at -27 according to the Gfk survey as the deterioration of the current situation is offsetting the increasing optimism of a recovery. For more news and resources, visit the Swiss Franc Currency Room.