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FOREX News & Overnight Technical Levels - September 26th

Wednesday, 26 September 2007 11:02:48 GMT  |  John Kicklighter, Currency Analyst

Fundamental Headlines

• NZDUSD - August trade deficit widens to NZ$945 million with a downward revision to the previous month’s balance to a NZ$813 million shortfall. The year to August deficit was littled changed at NZ$ 6.34 billion.
• USDJPY - Japan’s merchandise trade surplus tripled to 743.2 billion yen in August on the back of strong demand for auto and steel shipments. Exports to Europe and Asia rose to record highs, though those to the US were sluggish.
•  EURUSD - German GfK consumer confidence survey slips to five-month low 6.8. The Indicator is showing considerable resiliency compared to the ZEW and IFO reports, suggesting the consumer may support the economy.
• GBPUSD - Current account deifict narrows to a 9.1 billion billion pound shortfall in the second quarter with help from income and service components. The services surplus hit a record 8.9 billion pounds, equivalent to 2.6% of GDP.
• GBPUSD - Final revision on second quarter GDP finds an unexpected boost for a 3.1 percent annual pace on the back of strong service and manufacturing sector activity.
• USDCHF - KOF Leading Indicator unexpectedly rises to a 13-month high 2.14, conforming to the SNB’s optimistic outlook on growth.
• Myanmar cracks down on protesters but marches continue - AFP
• China could raise mortgage loan rates this week - report - Forbes
• China's Stocks Drop Most in Two Weeks: World's Biggest Mover - Bloomberg
• UK Banks Will Reduce Company Credit in Q4, BOE Says - Bloomberg

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