- Overnight Interest Rate Update 03.10.10 Wed, 10 Mar 2010 05:32 GMT
- Australian Home Loans Drop Most in Nearly a Decade on Rates, Grants Wed, 10 Mar 2010 03:06 GMT
- Australian Consumer Confidence May Fall on Rate Hikes, Says Westpac Wed, 10 Mar 2010 02:06 GMT
- Swiss CPI Fails to Impress Tue, 09 Mar 2010 11:02 GMT
top fx headlines
Article
Previous Articles
Print
- Mar, 09 Declining U.K. Exports Threatens Recovery, Keeping BoE on Alert
- Mar, 08 German Industrial Production Disappoints, As Construction Suffers.
- Mar, 05 Rising UK Factory Gate Prices May Force BoE to End QE
- Mar, 04 BoE Remains on Hold, No Statement Leaves Markets Guessing
- Mar, 02 Euro-Zone Inflation Slows Allowing ECB To Remain On Hold
- Mar, 01 Drop in U.K. Mortgage Approvals Raises Outlook For More QE
- Feb, 26 Stronger Than Expected U.K. Growth Creates Difficult Decision For BoE
- Feb, 24 German Growth Flat as Strong Demand From Abroad Offsets Domestic Weakness
- Feb, 23 U.K. Mortgage Approvals Decline, Opening the Door For More QE
- Feb, 19 U.K. Retail Sales Weaken More Than Expected, Euro-Zone Manufacturing Strengtens in February
- Feb, 17 U.K. Jobless Claims At Highest Since April 1997, Euro-Zone Trade Surplus Widens in December
- Feb, 16 U.K. Inflation Rises to 14-Month High, German Investor Confidence Tumbles for 5th Month
- Feb, 12 Euro-Zone GDP Stalls As Industrial Production Falters
- Feb, 11 ECB Raises Forecasts For Growth and Inflation But Deem Rates Appropriate
- Feb, 10 BoE Leaves Door Open For Further QE
- Feb, 09 U.K. Trade Balance Widens As Imports Outpace Exports
- Feb, 08 European Investor Concerns Grow As Budget Troubles Continue
- Feb, 05 Canadian Employment Soars On Service Sector Hiring
- Feb, 04 BoE Pauses QE efforts, Sees Inflation Falling Back Below Target
- Feb, 03 European Consumers Continue To Retrench
U.K. retail sales rose 0.4% in October as consumer’s continue to open their wallets as the recession comes to an end. Domestic spending increased for a consecutive month led by a 2.1% rise in apparel sales.
Fundamental Headlines
• Fear of Double Dip in Housing – Wall Street Journal
• OECD Sees Stronger Recovery – Wall Street Journal
• Range-bound dollar cools risk rally on global markets - Financial Times
• Stocks Fall, Yen Climbs on Concern Rally Outpaced Economic Growth Outlook – Bloomberg
• Bernanke's Clout in House Will Be Tested as Panel Votes on Audit Measures -Bloomberg
USD/CHF – The Swiss October trade balance surplus rose to 2.46 billion from 1.91 billion as exports rose 0.1%. Demand from abroad rebounded from -0.9% the month prior as the global economy recovery’s from the worst recession since WWII. However, a strong Swiss Franc continues to make Swiss products less competitive in the market place. The Swiss National Bank continues to look to limit the local currency’s appreciation by intervening into currency markets. However, the OECD raised their outlook for growth and recommended that policy makers look to raise rates by the end of 2009.
GBP/USD – U.K. retail sales rose 0.4% in October as consumer’s continue to open their wallets as the recession comes to an end. Domestic spending increased for a consecutive month led by a 2.1% rise in apparel sales. The U.K. is expected to return to growth in the second quarter aided by stimulus efforts. Policy makers added £25 billion to the asset purchase program bring the total to date to £200 billion. Indeed, we saw public spending for October at £11.4 billion which was the most for the month on record. The budget deficit fell from £14.9 billion last month but exceeded expectations of £7.0 billion. The central bank faces difficult decisions over future monetary policy as the country’s AAA ratings is in jeopardy but downside risk remain for the economy. To discuss this and other topics visit the GBP/USD Forum.
DailyFX provides forex news on the economic reports and political events that influence the currency market.
Learn currency trading with a free practice account and charts from FXCM.
Resources
