Forex News: Flat Exports Leads To European Trade Surplus

Fundamental Headlines

• USDJPY – The Japanese trade ministry revised earlier industrial production figures for February to an increase of 1.6% from a decline of 1.2%. Metals and robotics had sharp increases, and molds and dies rebounded, which may be a sign of increased future business. The positive numbers have tempered expectations of a recession for the country and reduced calls for a rate cut by the BoJ. For more news and resources, visit our Japanese Yen Currency Room.
• USDCHF – Swiss retail sales more than doubled expectations of a 1.6%, with a 3.3% jump in February. It was the 21st straight month of gains and the highest since September 2007. However, the majority of the gain was in food and beverage sales, which have been the beneficiary of record prices. Despite, economists predictions that sales will increase 1.9% on the year, there remains the fear that rising food prices will force consumers to sacrifice purchases of discretionary items going forward. For more news and resources, visit our Swiss Franc Currency Room.
• EURUSD – The European trade balance recorded a surplus for the first time in three months, as declining imports offset flat exports. The strong Euro, which set another all time high of 1.5981 today, has weighed on exports. The volatility in the currency market, led to European officials expressing concerns at the G-7 meetings, and raising the possibility of future intervention from the ECB. Discuss the topic and your trade ideas in the EUR/USD Forum.

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