Global News and Fundamentals

EU & UK Economies Slow, US Consumers Take On More Debt

Thu, May 8 2008, 19:40 GMT
by Andrei Pehar

fxKnight.com


The European Union and United Kingdom both saw figures pointing to a slowing in their economies this week.  In the UK we saw a decline in the services purchasing manager’s index, consumer confidence, industrial production, and manufacturing production.  On the EU mainland, the declines were felt primarily in investor confidence, as well as a slight drop both in German factory orders and industrial production, and a widening negative trade balance in France.  Both the Bank of England and the European Central Bank have left their key interest rates unchanged.

Meanwhile, across the Atlantic in the United States, we saw a large increase in crude oil inventories and even sharper increase in the total amount of outstanding consumer credit ($15.3 billion compared with 6.5 billion the prior month).  Last week’s figures also showed a decline in personal income and at the same time an increase in personal spending. Retailers benefiting the most seem to be ones carrying basic necessities of life.  Pending home sales also declined slightly for another month, but only half as much as the prior month.



Archive

BK Trading  | Goetheplatz 1, Postfach 15 18 23; D-80050 Munich
http://www.fx-knight.com | info@fxknight.com

Legal disclaimer and risk disclosure

Black Knight Currency Trading shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided on this website. The contents of any report provided should not be construed as express or implied investment advice, as a guarantee or implication that clients will profit from the strategies herein, or as a guarantee that losses in connection therewith can, or will be limited. Trades in accordance with the recommendations in an analysis, especially leveraged investments, such as foreign exchange trading and investment in derivatives, can be very speculative and may result in profits, as well as losses, especially if the conditions mentioned in the analysis do not occur as anticipated. Black Knight Currency Trading will not be held legally or morally responsible for trading decisions made by investors on their own trading account. We will not be responsible to compensate for any lawsuit on loss, expenses, costs, and/or damages resulting from trading in the international markets. All trading deals that an investor makes on his/her own trading account are the responsibility of the investor him/herself. The investor guarantees his/her ability to handle any financial losses resulting from trading in the international markets.

Interested in forex trading? forex brokerage firms!


MF Global UK Limited
Contact the broker/FDM
Open a demo account
GFT
Contact the broker/FDM
Open a demo account
GFS Forex & Futures
Contact the broker/FDM
Open a demo account
IG Markets
Contact the broker/FDM
Open a demo account
Advanced Markets
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.