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FOREX News & Overnight Technical Levels - September 20th

Thursday, 20 September 2007 12:03:39 GMT  |  John Kicklighter, Currency Analyst

Fundamental Headlines

• NZDUSD – A NZ$2.914 billion, second quarter current account deficit is smaller than the market’s forecast, but annual shortfall grows to NZ$13.6 billion. Ratio to GDP not released by Statistics New Zealand.
• USDJPY – Japan’s business sentiment diffusion index reveals a rebound in optimism among industry leaders, suggesting expectations the economy will climb out of its second quarter contraction. A 6.2 point reading in the second quarter BSI report is the first improvement from the indicator in four quarters.
• USDCHF – August trade surplus comes in below expectations to print a four-month low SFr 0.64 billion balance. Zew Investor sentiment gauge drops to -26.7, worse than expected and just above record lows.
• GBPUSD – Retail sales grow 0.6 percent in August against expectations of no change. Low unemployment and housing continue to carry spending through another rate hike.
• Fukui Says Japan's Economy to Keep Growing at Moderate Pace - Bloomberg
• BOE's King Blames U.K. Law for Foiling Bank Rescue  - Bloomberg
• Mervyn King stuns market with £10bn U-turn - Times Online
• Saudi Arabia holds back from matching US rate cut - Gluf News
• Metals - Gold holds onto gains as dollar continues to languish - Forbes

Written By John Kicklighter, Currency Analyst for DailyFX

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