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Fundamental Headlines • USDJPY – The Japanese labor market is showing signs of weakening as the number of jobs per applicant fell to 0.98 in December from 0.99 the previous month. Although, unemployment remained unchanged at 3.8% , companies are reducing their demand for labor as they factor in a U.S. slowdown and higher oil prices. For more news and resources, visit the new Japanese Yen Currency Room. • USDCHF – The Swiss trade balance unexpectedly fell to a two year low, as the surplus narrowed in December to 0.1981 billion francs from 1.810 the month prior. Additionally, domestic consumption showed signs of weakening as the UBS consumption indicator remained unchanged as rising commodity prices slowed consumer spending. Nevertheless, conditions in the Swiss economy remain fairly resilient as the UBS Consumption Indicator is still well above its average of 1.50. • EURUSD – The Euro-zone current account showed a 0.7 billion surplus, which was greater than expected but down from November, which was revised higher from 1.3 billion to 3.1 billion. An increase in the services surplus keep the current account from approaching a deficit. Discuss this and other topics related to the Euro in our EUR/USD Forum. • Bush Aims to Ease Worries And Burnish Legacy (link) – Wall Street Journal • US Bond Insurer Rescue Takes Shape (link) – Financial Times • Fed May Cut Rate to Below Inflation, Risking New Asset Bubbles (link) – Bloomberg • Japan’s Long-Awaited Inflation Saps Spending, Growth (link) – Bloomberg • Societe Generale Blew chances To Nab Trader (link) – Wall Street Journal