FedEx announcement on Wednesday:
- plans to cut between 1,700 and 2,000 jobs in Europe
- pursues further cost reductions in a weak demand environment
Developments at FedEx are often cited as a leading indicator of economies. I guess its not breaking news that the demand picture in Europe is not overly bright, though. Perhaps news such as this will hasten further ECB rate cuts though.
Source is here if you'd like more.
EUR/USD update, wild swings on the CPI and Fed. Asia digesting it all it seems.
