Existing Home Sales report is a leading indicator of housing activity. The indicator is released on a monthly basis, and helps analysts track consumer spending. A higher reading than that expected by the market is bullish for the dollar. Update: the actual number is 5.04 million, above expectations, EUR/USD slides. Here are all the details, and … “EUR/USD: Trading the Existing Home Sales”
Month: July 2014
Fed cannot stop the stock market; ECB would feel relaxed
Stock markets pay little attention to what central bankers have to say, and this also applies to the “stretched valuations” comment heard from the Fed lately, says Simon Smith of FxPro. He explains how this comments counteracts the impact of QE, if it does have influence after all. In the interview below, Smith also talks … “Fed cannot stop the stock market; ECB would feel relaxed”
Dollar Steady amid Monetary Policy Speculations
The US dollar held steady today, rising a little against the Japanese yen, as traders were speculating about possible actions of US policy makers and about geopolitical risks that are driving the Forex market right now. The dollar has the same supportive factor as the UK sterling — the interest rates outlook. While the Federal Reserve was making attempts to downplay rate hike expectations, most market participants believe that the central … “Dollar Steady amid Monetary Policy Speculations”
Britain’s Sterling Shows Resilience Despite Negative Data
The Great Britain pound showed resilience despite negative domestic data. The currency held steady today after a small drop against the US dollar and the euro yesterday. The sterling even managed to rise against the Japanese yen. The Rightmove House Price Index dropped 0.8 percent in July after rising 0.1 percent in June. It looks like the efforts made by the Bank of England to cool the housing market are starting to have an effect. … “Britain’s Sterling Shows Resilience Despite Negative Data”
Rally of NZ Dollar Fails due to Risk Aversion
The New Zealand dollar attempted to rally today with the help of the positive interest rate outlook but failed. The general market sentiment was not supportive for currencies that perceived to be relatively risky. The Reserve Bank of New Zealand conducts its policy meeting on July 24, and most market participants expect the central bank to raise the main interest rate by at least 25 basis points. Such outlook is positive for the New … “Rally of NZ Dollar Fails due to Risk Aversion”
Risk-Negative Sentiment Results in Softness of Aussie
The Australian dollar started the week falling due to concerns about economic slowdown in China as well as because of the general risk-aversion sentiment on the Forex market, which persisted since the last week. Analysts argue that slower economic growth in China, the biggest trading partner of Australia, means falling demand for Australian exports, and this in turn means slower recovery of the Australian economy. Geopolitical risks, which were driving the FX market in the second half … “Risk-Negative Sentiment Results in Softness of Aussie”
Attempted Euro Rally Fizzles
Euro attempted a rally against the US dollar earlier, taking advantage of the frustration many Forex traders have with US yields right now. However, that rally has fizzled out as the focus shifts to safe haven flows. Euro is lower against its low-beta counterparts, even as it gains against currencies like the pound and the loonie. Earlier in the session, the euro looked ready to rally against the US dollar. At one … “Attempted Euro Rally Fizzles”
MetaQuotes discontinues support for build 600
By Andrew Saks-McLeod Following last week’s launch of build 670 which incorporates virtual server hosting and market depth indication, MetaQuotes has discontinued support for build 600. Source: Leap Rate
USDCHF: Rallies, Eyes Further Upside
Dollar/franc: With a strong rally occurring the past week, further bullishness is expected in the new week. On the upside, resistance resides at the 0.9000 level where a break will aim at the 0.9050 level. Further out, a break will retarget the 0.9100 level where breather may occur and turn the pair lower but if broken … “USDCHF: Rallies, Eyes Further Upside”
Risk Aversion Helps Dollar End Week with Gains
The US dollar gained this week with help of geopolitical tensions in Eastern Europe and Middle East that were driving the Forex market by the end of the week. The greenback ended the week flat versus the Japanese yen, another currency that profited from the need for safety. The US currency started the week on a positive note due to speculations about an eventual interest rate hike from the Federal Reserve. Fed Chairwoman Janet Yellen sent … “Risk Aversion Helps Dollar End Week with Gains”