EUROPEAN Trading Newsletter

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US EXISTING HOME SALES

Friday Notes - Germany can't dance alone forever by HVB Group

The underlying situation is not healthy, and sellers are being compelled to cut prices substantially. However, industry sources suggest that sales of existing homes would have been even worse but are being lifted somewhat by transactions associated with foreclosed properties. (For example, in San Diego CA, hard hit by the subprime crisis, over a third of home sales this year involve foreclosures, up from just 5% a year ago).

• HIGHLIGHTS Outlook of US economic indicators to be released in the coming week (Thomson Financial News)

Top Market Movers Review

Switzerland PRODUCER AND IMPORT PRICES

Swiss Producer and import prices index accelerates in March on energy prices (FXstreet.com)

Metal and petrol products have pushed the Swiss producer and import prices up in March, according to the latest survey by the Swiss statistics office.

• Read the Producer and Import Prices data at Swiss Statistics
• Switzerland Mar Producer and Import Prices up 0.6%; 3.9% up year on year (FXstreet.com)

Australia PRODUCER PRICE INDEX

Daily Forex Technical Report − Aussie Surges on Strong Producer Price Inflation by ActionForex.com

The Australian dollar surges across the board today after the release of much stronger than expected Producer Price Index. PPI jumped 1.9% qoq in Q1, which was the biggest quarterly rise since 98. On a year to year basis PPI rose 4.8%, highest since 2000.

• Read the Producer Price Index report at Australian Bureau of Statistics
• Australia's producer price index rises 1.9 pct in Q1, 4.8 pct in year to March (Thomson Financial News)
• Australian 1Q Final PPI Rises 1.9% Vs 4Q; Up 4.8% On Year (Dow Jones)

Japan TERTIARY INDUSTRY INDEX

Japan METI: Feb All Indus Activity Down 1.7% On Month (Dow Jones)

Japan's service sector activity in February fell a seasonally adjusted 1.7% from the previous month, the government said Monday, marking the first decline in two months. The Ministry of Economy, Trade and Industry said its tertiary activity index stood at 108.4 February. In January, it stood at 110.3.

• Read the Tertiary Industry Index report at Japan Ministry of Economy, Trade and Industry
• Japan's tertiary index down 1.7 pct in February as sentiment remains weak UPDATE (Thomson Financial News)
• Japan's tertiary index falls 1.7 percent in February on weak financial spending (Thomson Financial News)

UK RIGHTMOVE HOUSE PRICE INDEX

DATA SNAP: Rightmove: UK Apr House Price Growth At 3−Yr Low (Dow Jones)

The average asking price for a home in the U.K. posted its weakest annual gain in almost three years in April and prices could crash unless there is immediate action to improve mortgage liquidity, online estate agent Rightmove said Monday. It said buyers and sellers needed more positive news on interest rates and mortgage liquidity and urged the government, the Bank of England and lenders to be more energetic on the issue.

• Read the House Price Index report at Righmove website
• UPDATE: Bank Of England To Unveil Mortgage Bailout (Dow Jones)
• 3rd UPDATE: UK Darling: BOE To Announce Help For Mortgage Market (Dow Jones)

Asia Market Update - Asian stocks rally on Citigroup, £50B U.K. mortgage plan by TradeTheNews.com

The Trading Week - The Trading Week: Apr. 20 − Apr. 25 by AllThingsForex