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New Home Sales On Tap

Intra-day gains in the dollar on a better-than-expected U.S. Existing Home Sales report tended to be short lived even though stabilization in the U.S. housing market is seen as critical to ending some of the concerns on the U.S. economy. The dollar finished yesterday’s trading session with mixed results versus the major currencies while staying relatively unchanged against the EUR ultimately closing at 1.4709.
Still, lingering concerns on problems at U.S. mortgage finance companies Fannie Mae and Freddie Mac are keeping housing data at the forefront of investors’ focus for this week. Data on New Nome Sales for July and 2 surveys of Nationwide House Prices are expected to be released today.
Meanwhile, Federal Reserve Chairman Ben Bernanke spoke on financial stability at the Kansas City Fed’s annual Jackson Hole conference. His commentary didn’t necessarily reveal anything new, though he did say that the recent decline in commodity prices, as well […]

Original post by Forextvblog

This entry was posted on Tuesday, August 26th, 2008 at 2:59 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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