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Existing Home Sales on Tap

Last week was a volatile trading week for the U.S. dollar and overall it saw mixed results with gains against most counterparts besides the EUR. During last week, there was a slight loss against the EUR while a lot of bullishness was seen against the GBP in particular during the end of the market week. With the Sterling’s weak economic data releases including a fall in its GDP compared to previous figure, the USD took the cross down to the mid 1.85’s. In terms of American economic news, there were more ups than downs with the major positive releases coming from the PPI, Unemployment Claims and Bernake’s speech on Friday. The Fed Chairman spoke on Friday and said that the Fed should be able to maintain its low federal funds target rate for a while getting help by the recent drop in commodity prices coupled with reduced demand for resources […]

Original post by Forextvblog

This entry was posted on Monday, August 25th, 2008 at 2:41 am and is filed under Home Sales, currency trading, 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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