Fundamental Headlines
• USDJPY – The Japanese Merchandise trade balance surplus shrunk to ¥739.0B from ¥1118.6B . However, it was greater than the expected ¥485.0B, and exports quickened to 4% on an annualized basis. The Japanese economy has benefited from increased demand from Asia, which is offsetting a U.S. slowdown. For more news and resources, visit our Japanese Yen Currency Room.
• GBPUSD – U.K. April retail sales fell 0.2% equaling the revised drop from the month prior, but better than the 0.4% decline predicted by economists. Annualized sales fell to 4.2% as expected from an upwardly revised 4.7% in March. Food retailers led the fall as sales declined 1% in April following a 0.9% drop the month prior. The better than expected results will give policy makers some relief, as they have signaled that inflationary pressures will prevent then from cutting rates in the near-term. Discuss the topic and your trade ideas in the GBP/USD Forum.
• EURUSD – Euro-Zone industrial new orders fell 1.0% in March. It was the first decline in three months and greater than the -0.5% that economists were expecting. German orders fell 0.8% for the fourth consecutive month, as the regions largest economy shows signs of weakening. A strong Euro and rising oil prices is weighing on Europe’s manufacturing sector. Discuss the topic and your trade ideas in the EUR/USD Forum.
• Fed’s Forecast Grows Gloomier (link) – Wall Street Journal
• Energy Watchdog Warns Of Oil-Production Crunch (link) – Wall Street Journal
• Shortage Fears Push Oil Futures Near $140 (link) – Financial Times
• Blame Wall St For $135 Oil On Wrong Way Betting (link) – Bloomberg
• Air France Has Quarterly Los; Annual Profit To Fall (link) – Bloomberg
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