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Area home sales heated in May

posted by jerome 602 days ago in USD, Housing

"The federal tax credits provided a temporary boost to the housing market," said Amit Batabyal, an economics professor at Rochester Institute of Technology. "These credits did increase demand, they pushed demand forward a couple of months."

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Gold Hits Record High on Safe-Haven Demand

posted by jerome 603 days ago in USD, Gold made popular 603 days ago

Gold rallied to a record high near $1,260 an ounce on Friday as momentum triggered by buying of the metal as a haven from sovereign and financial risk pushed prices through technical resistance to near their previous peak.

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2-Year Yields Touch 3-Week Low as Jobless Claims Increase

posted by jerome 603 days ago in USD, Inflation, Employment

Treasuries rose, pushing two-year yields to a three-week low, as reports showed an unexpected jump in jobless-benefit claims and a drop in consumer prices, spurring bets the Federal Reserve will keep interest rates low.

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House prices edge up in London but confidence weakens

posted by jerome 606 days ago in GBP, Housing

House prices edged up in May, but there appears to be a weakening confidence in the London housing market, possibly due to concerns about the economy and likely budget cuts.

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AUD opens higher after weekend rally

posted by jerome 606 days ago in AUD

The Australian dollar opened more than a cent higher after a weekend rally, although it dipped slightly after Greece was hit with a credit downgrade on Monday.

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Real Money Buys EUR/USD On Dips

posted by jerome 607 days ago in USD, EUR made popular 607 days ago

Traders report US real money accounts (asset managers, pension funds, etc..) buying EUR/USD on the dips this afternoon. In all likelihood, real money is underexposed to EUR relative to their benchmark given the lousy headlines of recent weeks.

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Euro likely to hit dollar parity in 2011

posted by jerome 608 days ago in EUR, Inflation made popular 608 days ago

The euro is set to sink to parity with the dollar in 2011 because of the slow pace of economic recovery in Europe, if it has not broken up by then, a consultancy predicted. In a quarterly report, the London-based Centre for Economics and Business

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USD gains as retail sales slump data

posted by jerome 609 days ago in USD, GBP, Retail Sales

The dollar rose against the euro, Japanese yen and British pound on Friday after a weak retail sales report for the U.S. weighed on stocks and increasing the appeal of the greenback's relative safe haven status.

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USD rebounds in Asia ahead of data

posted by jerome 610 days ago in USD made popular 610 days ago

The dollar rebounded in Asian trade Friday ahead of a fresh batch of US data later in the day and following robust Chinese data that lifted investor confidence in the global economic recovery.

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House prices drop 0.5% in May

posted by jerome 614 days ago in GBP, Housing

Property prices fell by 0.5 per cent in May compared to April, according to the latest figures from Halifax. According to the mortgage lender, the average cost of a home in the UK stood at £167,570 last month.

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Australia boasts trade surplus as exports surge

posted by jerome 618 days ago in AUD, Trade made popular 618 days ago

Australia reported its first trade surplus in 13 months in April as booming exports of iron ore and coal helped lift earnings by over A$2 billion, a dramatic turnaround that is set to fuel economic growth this year.

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Crude Oil Rises as USD Decline Increases Commodity Demand

posted by jerome 621 days ago in USD, Oil, Consumer made popular 621 days ago

Oil declined on May 28 after a decision by Fitch Ratings to strip Spain of its AAA credit grade pushed the euro lower. A report tomorrow in the U.S., the world’s biggest oil consumer, will probably show the nation’s manufacturing expansion slowed

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