[U][B] Fundamental Headlines[/B][/U]
• [B] USDCHF [/B]– Swiss retail sales rose 7.4% in May rebounding from a 9.4% decline the month prior, as consumer consumption remained resilient despite the slowing economy. An 8.2% increase in food purchases and a 7.2% improvement in clothing sales after slumping 24.7% in May led to the results beating economists expectations of 3.8%. For more news and resources, visit our Swiss Franc Currency Room.
• [B]EURUSD[/B] – European consumer prices rose to 4.0% from 3.7% the month prior on an annualized basis, which is the highest in more than 16 years. The record setting pace of oil has fed rising gasoline and heating costs. The regions largest economy Germany saw pries rise 3.4%, which has led to investor confidence falling to a record low in July. The European economy is beginning to whither in the face of the headwinds from the U.S. credit crisis and a global slowdown, which has increased fears that the central bank’s raising of credit costs will push the economy towards a recession. Discuss the topic and your trade ideas in the EUR/USD Forum.
• [B]GBPUSD[/B] – U.K. jobless claims rose 15,500 in June after a revised higher 14,300 the month prior. It marked the fifth month that claims rose and was the biggest increase since 1992, the last recession. The slowing global economy, rising inflation and the worst housing slump since the last recession have led to employers cutting jobs as the growth outlook dims,and leaving the BoE on hold. Discuss the topic and your trade ideas in the GBP/USD Forum.
• [I]Goldman is Queried About Bear’s Fall[/I] (link) – Wall Street Journal
• [I]SEC Moves to Curb Short-Selling[/I] (link) – Wall Street Journal
• [I]Fed Charts Tricky Course as Clouds Gather[/I] ([link](Subscribe to read | Financial Times)) – Financial Times
• [I]U.K. Unemployment Jumped the Most Since 1992 in June /I – Bloomberg
• [I]Fannie Mae, Freddie Mac May Halt Dividends on Losses[/I] (link) – Bloomberg
