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  • David Becker

    EURUSD is trading at fresh eight-month lows, hitting 1.3410. Target support is the November lows of 1.3296 which could be hit as yields in Europe continue to tumble. Resistance on the currency pair is seen near the 10-day moving average at 1.3475. The yield differential between Germany and the US continues to favor the greenback

  • H.S. Borji

    US consumer confidence surged in July, rising to the highest level in nearly seven years as faster than forecast job creation helped boost consumers’ assessment of the current economic situation. The Conference Board’s gauge of consumer confidence surged from 86.4 to 90.9 in July, far surpassing estimates calling for 85.5. The June reading was revised

  • David Becker

    The FOMC meeting, a plethora of key data and earnings news, along with a heavy supply calendar could make this coming week a very volatile one. As for the FOMC, it’s unlikely there will be any major surprises in the policy stance or in the forward guidance as a $10 bbillion reduction in QE is

  • James Boston

    The Federal Reserve Bank of Dallas has just released it’s monthly Business Index for the July. This now stands at 12.7 compared to a June reading of 11.4, the market held an expectation of this number coming in at 12.0 for the month. Additionally, Markit Economics have published the preliminary July Purchasing Managers Index (PMI)

  • H.S. Borji

    The US service economy in July remained close to its pre-recession high, although the pace of new business growth eased to a three-month low and employment growth moderated from June’s four-and-a-half year high. Markit Group’s flash estimate of US service activity eased slightly from 61 to 60.9. Economists forecast a sharper decline to 59.8. A

  • H.S. Borji

    The US dollar faces an active and potentially volatile week of trade, as a steady stream of economic data headlined by GDP and nonfarm payrolls influence market sentiment. The US dollar index, a weighted average of the greenback’s performance against six commonly traded peers, broke 81 integer points last Friday for the first time since

  • H.S. Borji

    US durable goods rebounded in June, but weak shipments of core capital goods prompted economists to quickly downgrade their estimates for second quarter growth. Orders for manufactured goods meant to last three years or more increased 0.7 percent in June, following a decline of 1 percent the previous month, the Commerce Department reported today in

  • H.S. Borji
    Forex » US Dollar Firm, Disregards Weak Data
    H.S. Borji - July 24, 2014, 16:43 GMT

    The US dollar was steady against a basket of currencies Thursday, as investors disregarded weaker than forecast home sales and manufacturing data. The US dollar index, a weighted average of the greenback’s performance against six commonly traded peers, climbed 0.04 percent to 80.86 after reaching an intraday high of 80.91. The dollar index has enjoyed

  • James Boston

    There has just been a very mixed bag of data released in the US covering updates on employment, manufacturing and home sales. The headline numbers relate to New Home Sales, this statistic released by the US Census Bureau is showing a month on month fall in June to 0.406M, this is in comparison to the

  • H.S. Borji

    The sale of new US homes declined at a faster rate than forecast in June, adding further to the view the housing recovery will be slow to materialize this year as restrictive lending conditions and weak earnings growth continue to dampen the market. New US home sales declined 8.1 percent to a seasonally adjusted annual

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