Fundamental Headlines
• USDJPY – Japanese wages rose for a third month in March marking the fastest hiring pace in 16 years. The increase was infuenced by new regulations that are urging companies to treat part-time employees like full time ones in regards to pay and benefits. Inflation in the country is on the rise and will continued to be pressure by rising wages. For more news and resources, visit our Japanese Yen Currency Room.
• AUDUSD – Australia’s home building approvals fell six times estimates, as a 12 year high in interest rates weighed on the sector. It marked the fourth monthly decline as the economy is cooling as the central bank’s tightening policy takes affect. Meanwhile, manufacturing rose to 52.7 in April as a boom in mining offset declining deman in other sectors. For more news and resources, visit our Australian Dollar Currency Room.
• GBPUSD – The U.K. April manufacturing PMI fell slightly to 51.0 from 51.3 the month prior, but better then the 50.8 that economists expected. Taking a closer look at the breakdown, the factory price index rose to the highest since 1999 at 61.9, up from 60.6 in March, which will create more inflationary pressure. Meanwhile, output, new orders and finished goods declined, signaling that the current housing slump is weighing on growth. The central bank continues to find themselves between a rock and a hard place, as they try and stem rising inflation and promote future growth. Discuss the topic and your trade ideas in the GBP/USD Forum.
• Stock Futures Edge Higher As Focus Shifts Away From Fed (link) – Wall Street Journal
• Fed Cuts Key Rate Signals A Pause (link) – Wall Street Journal
• Bank of Englanmd Signals Worst is Over (link) – Financial Times
• Bond Sales Double in Europe To $147 Billioin April (link) – Bloomberg
• Dollar Rises Versus Euro As Fed Signals It May Pause Cuts (link) – Bloomberg
