[B]Fundamental Headlines[/B]
[I]• Household Wealth Advances by 3.9% – Wall Street Journal
• U.K. Borrowing Soars as Receipts Fall – Wall Street Journal
• Japan moves to trim stimulus budget – Financial Times
• Stocks, Metals Fall as Copper Inventories Rise for 16th Day; Pound Slides – Bloomberg
• Lloyds Says for the First Time It May Exit From Government Debt Insurance -Bloomberg[/I]
[B]
GBPUSD[/B]– Net borrowing by the British public sector rose to 16.1 billion pounds ($26.6 billion) in August, up from 8.0 billion pounds the month prior, and surpassing economists’ forecasts of12.5 billion pounds. Total current government receipts fell 9.1% from a year ago to 34.1 billion pounds, while total current spending rose to 45.6 billion from 44.3 billion pounds. The government saw its deficit rise to 12.8 billion pounds which will raise concerns over the country’s credit rating and the level of future taxes. Discuss the topic and your trade ideas in the GBP/USD Forum.
[B]
EURUSD[/B]– German producer prices rose for the first time in eleven months in August as stabilizing oil prices have started to filter through the economy. The 0.5% rise in during the month of August lifted the annualized reading to -6.9% from -7.8%. Despite evidence that prices are on the rise they still remain well below required levels for stimulating growth. The ECB has maintained that consumer prices will remain below its 2.0% target for the reminder of the year and that interest rates are appropriate for the current environment . Discuss the topic and your trade ideas in the EUR/USD Forum.