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Forex News: BoJ Leaves Rates Unchanged, EZ Inflation Eases
Wednesday, 30 April 2008 11:11:03 GMT  |  John Rivera, Currency Analyst
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Fundamental Headlines

•    USDJPY  –   The BoJ left their benchmark interest rate unchanged at 0.50%,but warned that the downside risks to the economy were greater than the upside. The central Bank cut its growth forecast to 1.5% from 2.1% for 2008. Meanwhile, Industrial production slowed at its fastest pace since in at least five years at -3.1%. For more news and resources, visit our Japanese Yen Currency Room.
•    EURUSD  –   The Eurozone CPI-Estimate fell to 3.3% from 3.6% the month prior, but still remains at extreme levels. The region also saw business confidence fall to a 2 ½ year low of 97.1 from 99.6 in March. Meanwhile, the German labor market showed signs of weakening when jobless claims only fell by 7K against expectations of a decline of 30K.None of the data is significant enough to influence the ECB’s current hawkish bias. Discuss the topic and your trade ideas in the EUR/USD Forum.
•    GBPUSD –U.K. house prices declined on a annualized basis fro the first time since 1996 according to Nationwide Building Society. The average home value fell 1.1% in April bringing the12 month average to -1.0%. The slumping housing industry has weigh on consumer confidence which posted it lowest reading at -24, according to the Gfk survey. This has leas to growing recession fear and BoE member David Blanchflower to call for immediate action.  Discuss the topic and your trade ideas in the GBP/USD Forum.

•   Strike Hits GM Earnings (link) – Wall Street Journal
•    Iraq Oil Revenue May Top Outlook (link) – Wall Street Journal
•    U.S. Watchdog Presses For Mortgage Rescues  (link) – Financial Times
•    Bernanke May Need To Do More To Ease Jump in Bank Funding Costs (link) – Bloomberg
•    U.S. Economy Probably Expanded At Slowest Pace In Five Years  (link) – Bloomberg

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