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FX4.20

Fundamental Headlines

• Greek Auction Meets Strong Demand– Wall Street Journal
• In SEC v. Goldman, The Committee Is Key – Wall Street Journal
• Goldman first-quarter profits nearly double - Financial Times
• Stocks, Commodities Rebound on Economic, Earnings Confidence; Yen Declines - Bloomberg
• Coca-Cola First-Quarter Profit Rises 20%, Bolstered by Latin America Sales - Bloomberg



EUR/USD –  The German Zew survey jumped to 53.0 from 44.5, surpassing estimates of 45.1, as investor confidence soared on an improving labor picture and a weaker euro. Demand from abroad has fueled Europe’s largest economy’s recovery and a weaker single currency should makes it products more attractive. Sustained German growth may be enough to drive the broader region which will continue to put upward pressure on prices. The ECB make it first recognition of the potential of inflation risks stating that they will act in a “timely” and “appropriate” manner if they emerge. To discuss and other topics, please visit the EUR/USD forum.


GBP/USD –  U.K. consumer prices accelerated faster than expected by 3.4% from a year earlier against expectations of 3.1%. It is the second time this year that inflation breached the government’s 3.0% threshold which may force the BoE to bring an end to their asset purchase program. The central bank following the first breach stated that it was its goal to maintain low inflation and interest rates, but if price growth continues, tighter monetary policy may be unavoidable. Energy  rising 8.2% from a year ago continue to drive inflation, but a higher food and housing costs will be concerning for policy makers as it could threaten consumer spending. To discuss and other topics, please visit the GBP/USD forum.