[B]Fundamental Headlines[/B]
[I]
• ECB Expects No Recovery Before 2010 – Wall Street Journal
• Court clears Chrysler deal with Fiat– Financial Times
• Geithner sees ‘global storm’ abating– Financial Times
• Obama Administration Said to Seek New SEC Powers Over Bank Executives’ Pay – Bloomberg
• Global Confidence Climbs for Third Month on Signs Worst Is Over Unit – Bloomberg[/I]
[B]EURUSD[/B] – There were mixed results for industrial activity in Europe as French output unexpectedly fell by 1.4% while Italian manufacturing rose by 1.1%. Italian output rose fro the first time in a year following a 4.5% decline the month prior. However, the sharp fall in French activity could be a sign that growth will be slow to come by for the region despite the recession slowing. Meanwhile, the final readings fro German CPI remained unchanged from the preliminary print of 0.0%. Disinflation continues in the country which may allow the ECB to continue easing rates in order top help stimulate growth and speed the region’s recovery. Discuss the topic and your trade ideas in the EUR/USD Forum.
[B]GBPUSD[/B] – The visible trade balance in the U.K. unexpectedly widened to -£7003 from -£6471 as rising imports outpaced a slight increase in exports which could be a sign that domestic demand is building. However, the lack of demand for British goods considering the stabilization of the global economy will be a concern for Pound bulls. Yet, we saw industrial output advance for a second month by 0.3% as a rise automobile production boosted manufacturing by 0.2%. Mining and oil activity rose by 2.4% and 2.5% respectively as rising commodity prices are inspiring producers to increase output. Discuss the topic and your trade ideas in the GBP/USD Forum
