Existing home sales: sales on cusp of turning positive YoY, prices negative
By: New_Deal_democratYesterday's report of existing home sales is in line with what I've laid out as the sequence in which the housing market turns: Read more

Home > XE Currency Blog > XE Currency Blog - Market Analysis & Forex News
Yesterday's report of existing home sales is in line with what I've laid out as the sequence in which the housing market turns: Read more
Trade was fairly subdued through the London morning session, as EUR-USD found ongoing support into the 1.3450 support region. A lack of EU data kept traders in check through the session, while Bund and Gilt futures moved higher on the day, as stock markets advance amid receding risk aversion.The pairing touched fresh trend lows of 1.3455, before bouncing back toward 1.3475 in light trade. Read more
The dollar firmed up against the European majors while suffering marginally versus the yen in N.Y. trade on Tuesday, taking EUR-USD to eight-month lows of 1.3460. The pairing made little attempt to rally through the remainder, able to touch just 1.3472 highs into the close. Read more
The yen was the main mover in otherwise subdued conditions in pre-Europe trade in Asia. The Japanese currency sank as stocks and investor risk appetite rose, following the currency's normal correlation, which saw USD-JPY and EUR-JPY rise to respective five-day highs of 101.56 and 137.34. Read more
Every month, the ECB issues a report on EU economy. It's full of great detailed information. It also highlights underlying reasons why the EU is experiencing such slow growth, starting with the very weak M3 situation. M3 is the largest monetary aggregate, encompassing all other monetary base measures. Read more
Major dollar pairings were range bound in very quiet N.Y. dealings on Monday. There was no major data to drive markets, though geopolitically backed risk-off conditions weighed on equities and Treasury yields. EUR-USD was stuck inside a 1.3515-25 range through virtually the entire session, as USD-JPY managed a 101.27 to 101.35 trading band. Read more
The dollar recovered after an Asia session bout of weakness, which saw EUR-USD extend Friday's rebound from sub-1.35 level to a peak of 1.3549. The pair subsequently settled back to near net unchanged levels in the 1.3520s. Most other pairings remain comfortably within Friday's ranges, with market participants wary about the geopolitical tensions, which saw stocks trade lower in Europe. Read more
The dollar traded with a softer bias in generally light early-week trade, correcting some of the advances seen last week. EUR-USD recovered above 1.3540, but stalled shy of 1.3550. This followed the five-month low that was seen on Friday at 1.3491. Cable was also firmer, in the 1.7090s after seeing a 1.7036 low on Friday. Read more
Monthly June data included weakly positive retail sales and industrial production, and improving Empire State manufacturing. Capacity utilization declined slightly. University of Michigan consumer sentiment declined. There was a "hot" reading of producer prices. Read more
Let’s start this week on the far side of the globe, with Australia and Japan, largely because the news flow was light. For Japan, the big event was the BOJ keeping interest rates at .1%. They also released their latest meeting minutes, which had the following commentary regarding the consumer’s observed snapback from the recent sales tax increase: Private consumption remained resilient as a trend with improvement in the employment and income situation, although a subsequent decline in demand following the front-loaded increase prior to the consumption tax hike had been observed. Read more