overnight news and headlines

FOREX News & Overnight Technical Levels - September 28th

Friday, 28 September 2007 11:08:31 GMT  |  John Kicklighter, Currency Analyst

Fundamental Headlines

• NZDUSD - Growth over the second quarter measures 0.7 percent, boosting the annual pace of expansion to a two-and-a-half year high 3.2 percent. Strong domestic demand and housing investment will likely defer any rate cuts.
• USDJPY - Though falling short of expectations, industrial output accelerated to its fastest pace of annual growth in nearly four years at 3.4 percent in August partly due to the recovery from earthquakes the previous month.
• USDJPY - Despite a rebound in the jobless rate from a nine-year low to 3.8 percent, consumer spending jumped 1.6 pecent in the year through August. The recovery further helped retail sales surged 3.9 percent over the month - the single largest month-over-month increase in at least seven years.
• USDJPY - The core consumer price gauge fell 0.1 pecent in the year through August, extending the trend of deflation to seven consecutive months.
• EURUSD - German retail sales drop 1.4 percent in August, keeping the annual gauge in negative territory for a fifth month.
• GBPUSD - A leak takes the edge off a disappointing -7 from the GfK consumer sentiment report.
• China hikes mortgage rates, down payments – MarketWatch
• Greenspan Says Risk of U.S. Recession Has Increased - Bloomberg
• Bank 'gives Rock further bailout' - BBC News




Written By: John Kicklighter, Currency Analyst for DailyFX.com

Resources

• free demo account
• forex courses
• open an account
• forex stream
• free webinars