« European shares turn mostly lower as banks pressure
U.K. April mortgage approvals rise from March low »

US New Home Sales On Tap

Yesterday was a relatively volatile session for greenback pairs. Because of Memorial Day in the US, banks remained closed during the day, and as a result an extremely low volume was observed within USD trading. The EUR\USD saw volatile behavior from the beginning of the trading week until the end of the day yesterday, as well as the USD\JPY. The GBP\USD started the day with bearish momentum, dropping as low as 1.9768, but than made a reversal and rose back up to 1.9825. In observance of Memorial Day no data was released yesterday from the US regarding the USD. As for today, a basket of data is scheduled for the USD. At 12:15 (GMT) Federal Reserve Governor Kroszner will deliver a speech titled “prospects for recovery and repair of mortgage markets”, in Sao Paolo. In his speech, clues regarding future monetary policy might be scattered. Later on, the National Home […]

Original post by Forextvblog

This entry was posted on Tuesday, May 27th, 2008 at 4:53 am and is filed under gold price, exchange rate, currency rate, Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply