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Building Permits On Tap - Might Take The USD Further Up.

The greenback completed yesterday’s trading session with mostly bullish trends against its top currency crosses, besides vs. the JPY. The only economic data release that came out of the U.S. was the NAHB Housing Market Index that was released at the exact forecast and didn’t cause much volatility. The USD took advantage of the European currencies as they showed bearishness, but lost momentum to the JPY.
Against the EUR, the USD was traded under 1.47, however it lost strength against the Yen and was traded under 110.
The economic survey of the NAHB Housing Market Index showed a bad outlook for housing starts, but it was released at the exact forecast so there was no big surprise and the USD wasn’t affected much. The USD did lose some momentum because of speculation that the U.S. government will be forced to bail out Fannie Mae and Freddie Mac, the biggest mortgage-finance companies. An […]

Original post by Forextvblog

This entry was posted on Tuesday, August 19th, 2008 at 1:34 am and is filed under Building Permits, currency trading, USD, forex, 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.

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