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Fundamental Headlines

•    USDCHF  –  Swiss consumption rose to its highest level in eight months, according to the UBS consumption indicator. The index improved to 2.32 from a revised 2.15 in January. The forward looking gauge stayed above its long-term moving average of 1.50 for a 24th month. The lowest unemployment in six years is poised to fuel domestic spending and become a source of growth for the economy. The SNB is expected to keep rates unchanged going forward, as a U.S. slowdown is expected to weigh on overall growth and inflation.  For more news and resources please visit our Swiss Franc Currency Room.
•    GBPUSD – The Conference of British Industry has revised its growth expectations for 2008 down to 1.8% from 2%. The country’s largest business lobby forecasted that growth will continue to decline in 2009 to 1.7%, prompting three future rate cuts from the BoE. Despite expectations of inflation rising above the 3% threshold level, they expect the benchmark interest rate to be as low as 4% by year’s end. Discuss the topic and your trade ideas in the GBP/USD Forum.

•    Wave of Foreclosures Drives Prices Lower, Lures Buyers (link) – Wall Street Journal
•    J.P. Morgan Quintuples Bid to Seal Bear Deal (link)– Wall Street Journal
•    Medvedev Warns Against Expanding Nato East (link) – Financial Times
•    CBI Reduces U.K. Economic Growth Forecast for 2008 (link) – Bloomberg
•    Stocks in Europe Asia Rally  as Bear Stearns Bid Lifts Confidence in Banks  (link) – Bloomberg