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Fundamental Headlines
• AUDUSD – Australia’s trade deficit widened in January, posting the second largest gap in history at -2.72 billion. Strong import demand driven by a rising exchange rate and booming economy outpaced slumping exports. Bottlenecks and heavy rains disrupted shipments and will begin to weigh on the economy, which grew at its slowest pace in a year last quarter. For more news and resources please visit our Australian Dollar Currency Room.
• USDJPY – Japan’s Leading Economic Index declined sharply to 30% from a revised 45.5% in December. Expected reductions in factory orders on declining demand due to a U.S. slowdown and waning domestic consumer confidence., is slowing the economy. Japanese officials concerns are growing, which may lead to a rate cut by years end. For more news and resources please visit our Japanese Yen Currency Room.
• GBPUSD – The BoE keep their benchmark interest rate unchanged at 5.25, the highest among G-7 members. Rising inflation prevented the MPC from trying to spur growth and stem the decline of their slumping economy. Where further liquidity is needed, U.K. house prices resumed their downward trend after stabilizing the past two months. Buyers are having trouble getting loans as banks have been reluctant to pass on lower interest rates. How long can the BoE go without another rate cut. Discuss the topic and your trade ideas in the GBP/USD Forum.
• Carlyle Capital Adds To Fears Of Forced Sales (link) – Wall Street Journal
• Gifts Case Nabs A Star (link)– Wall Street Journal
• Ambac Tumbles On $1.5bln Stock Plan (link) – Financial Times
• Euro Advances To Record High Against Dollar Before ECB Meeting (link) – Bloomberg
• Cooper Rises TO Record AS Weaker Dollar Spurs Investment Demand (link) – Bloomberg
Podcast by Terri Belkas, Currency Analyst, Forex Capital Markets LLC, DailyFX.com
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