The strong performance of equity markets today has ensured the USD remains under selling pressure and most major currency pairs remain at elevated levels against the USD in their recent ranges. In Europe, the FTSE is up around +2.1%, DAX +2.4%, and in the US, the S&P is up nearly…
Category Archives: General Forex
USD Lower, Existing Home Sales Rise 10.1%
The USD starts the week sharply lower as equity markets rally and gold trades at a new record high. The initial catalyst for the surge in the equity markets and gold were linked to dovish comments from the Fed’s Bullard. Bullard called for the Fed to extend its asset purchase…
U.S. Market Update
The greenback remained vulnerable throughout the New York morning but managed to stay below the 1.50 level despite continued strength in crude and gold. Comments supportive of the dollar continue to emanate from global officials, although they are having less and less impact on markets. ECB Chief Trichet may have…
U.S. Existing Home Sales Have Increased in Six of Last Seven Months
Sales of existing homes rose 10.1% to 6,100,000 units in October, building further on the strong 8.8% (revised from 9.4%) gain in September. Expectations within financial markets had been for a more moderate 2.3% rise. Existing home sales have now increased in 6 of the last 7 months. Months’ supply…
Canadian Retail Sales on a Roll
Retail sales recorded a second monthly increase, rising 1% in both September and August. The increase in September was almost double the 0.6% gain expected going into the report. The August numbers also provided some good news as the increase represented an upward revision from the previously estimated increase of…