Fundamental Headlines
· GBPUSD – UK home prices fell at its fastest pace in 6 years, heightening downside growth risks for the economy. The average price of homes slide 4.8% in the month of August as banks continued to cutback on lending practices. As a result, the stock of unsold homes rose for the seventh consecutive month, and will be an ongoing concern for the BoE as economic activity deteriorates. For more news and resources, visit our GBP/USD Forum.
· EURUSD – The Euro-Zone trade deficit widened to a 2 year high in June, falling to -3.0B euros from -1.5B in the previous month. Import demands among the 15 European nations rose twice as fast when compared to exports, with the highly appreciated euro dampened the appeal of European exports. Discuss the topic and your trade ideas in the EUR/USD Forum.
· USDCHF - Swiss retail sales rose less than expected to an annual pace of 0.7% in June after rising 7.4% in May. Record high food and energy costs continue to sap purchasing power, and led consumers to cutback spending on discretionary items such as clothing and furniture. For more news and resources, visit our Swiss Franc Currency Room.
• Japan’s Slump Is Likely To Be Shallow but Long (link) – Wall Street Journal • BHP Posts Another Record Profit On Higher Prices, More Output (link) – Wall Street Journal • Gloom to Increase Fears of Global Recession (link) – Financial Times • Dollar Falls Against Yen, Euro Before Housing, Inflation Data (link) – Bloomberg • U.K. House Prices Decline Most Since at Least 2002 (link) – Bloomberg