What’s Happening With Currencies – August 23rd
US dollar weakness continues to prevail as relationships with riskier assets are supporting demand for major currencies. The sentiment is helping to drive EURUSD and GBPUSD higher on the session – by 0.4% and 0.23% respectively.
U.S. new home sales slightly fell again in July 2011
Today, the U.S. Census Bureau issued its monthly report on US new homes sales for July 2011 and didn’t shows much improvement from June.
US Datastream Remains Negative with New Home Sales, Richmond
We have another batch of weak economic data coming from the US, this time from the housing and manufacturing sectors. New home sales fell for a 3rd straight month, and are at the weakest level in 5 months, while the Richmond Fed Index fell to -10
GBP Slides vs Other Yielders Despite Better Second-Tier Data
In the UK, we saw fundamental data come in a bit better than expected, which helped the GBP to rally against the USD, but it fell back against the EUR, AUD, NZD, and JPY, showing that while it was better than the laggard USD, the GBP was shedding
US existing home sales fell in July 2011
The US existing homes sales rate fell in July 2011 by 3.5%; this news serves as a good indicator of the economic slowdown in the US housing market.
US Dollar Preview: Canadian Housing Continues Climb
There isn’t much scheduled for the US session. But, what is scheduled will be important to both USD and CAD major currencies.
What Happens If US Debt Gets Downgraded?
(Dow Jones via #eFXnews.com)In the event that US debt actually gets downgraded, Rochdale Securities' Dick Bove looks at what's at stake.
Some entitlement programs will be slashed, taxes may be increased and government agencies will likely
Raising Rates Quickly Could Transform Spanish Debt Crisis
Spain is the largest of the Eurozone’s “troubled” economies. One of the key reasons that the country is in its current fiscal condition is the housing sector. The Spanish housing market had experienced a decade-long boom, when housing starts surg
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China: 4 Sore Spots To Keep An Eye On
I mentioned in my blog last week that China's resilience during the 2008 financial crisis has made it the envy of many nations. However, it seems like big ol' China has a few sore spots in its economy too! Here are four of them
NA Equities Extend Gains Post Existing Home Sales, CAD Gains
The tenor of recent US data has been very soft and while today’s existing home sales reading was in line with Bloomberg’s forecast, other outlets including Reuters and Dow Jones Newswire saw expectations for today’s release worse, with forecast o


