Hi
U.S. Dollar Trading (USD) having shown previous day gains against most majors, the dollar fell on Tuesday to a 2 year low against a basket of currencies. This was largely attributed to soft data released for the housing sector, with existing home sales coming in weaker than expected at 6.12 mil (Previous: 6.68 mil revised). Furthermore a weak consumer confidence did little to provide the dollar with any form of support. In US share markets the NASDAQ was up by 0.87 points (0.03%) whilst the Dow Jones also rose by 34.54 points (0.27%). Crude Oil fell by nearly 2% to $64.57 a barrel. Looking ahead, Durable Goods is out of the US today with expectations of 2.5% (Previous: 1.7%). In other news, with plenty of attention surrounding the Housing Sector, markets will await New Home Sales as economists 890k (Previous: 848k).
U.S. Dollar Trading (USD) having shown previous day gains against most majors, the dollar fell on Tuesday to a 2 year low against a basket of currencies. This was largely attributed to soft data released for the housing sector, with existing home sales coming in weaker than expected at 6.12 mil (Previous: 6.68 mil revised). Furthermore a weak consumer confidence did little to provide the dollar with any form of support. In US share markets the NASDAQ was up by 0.87 points (0.03%) whilst the Dow Jones also rose by 34.54 points (0.27%). Crude Oil fell by nearly 2% to $64.57 a barrel. Looking ahead, Durable Goods is out of the US today with expectations of 2.5% (Previous: 1.7%). In other news, with plenty of attention surrounding the Housing Sector, markets will await New Home Sales as economists 890k (Previous: 848k).