The euro again yesterday to make up some of its recent losses, as positive German economic data ensured that investors in European trade in riskier assets turned. The EUR / USD pair rose to 1.3340, before the afternoon was a downward correction. Today, the data should provide the U.S. sales of new buildings to house weekly closing down for volatility. An increase in home sales is expected to lead to gains in the USD to other safe-haven currencies.
USD - claims for unemployment benefits point to continued growth in the U.S. labor market
The U.S. dollar posted slight gains yesterday on several of its major currency rivals, as the positive data on unemployment benefit claims to continued growth in the U.S. labor market hindeuteten. Although the notification of the data, the USD / JPY as well as the USD / CAD pair recorded upward movement, led earlier in the day positive economic data from the euro zone to the fact that the dollar against the euro and British pound sterling experienced a downturn. The EUR / USD pair was the biggest part of the day at or above the value of 1.3300 while the GBP / USD pair recovered from the declining trend of the previous day and increased up to 1.5730.
End of the week, traders should pay attention to the data sent to the U.S. sales of domestic buildings, which are published at 15:00 GMT clock. In addition to the labor market statistics of the real estate market is considered one of the priority indicators for the economic health of the U.S.. Increases in the previous month's data are likely to lead to the USD may record its major currency rivals an increase. That being said, could positive notices from the euro zone cause investors to turn to back riskier assets, which could lead to a decline in the dollar.
A short outlook for the coming week shows that traders with announcements of a number of important U.S. economic indicators can be expected. Particular attention should be paid on Tuesday the report on consumer confidence and apply on Wednesday the preliminary gross domestic product. If even one of the indicators are above expectations, the dollar is likely recorded corresponding gains.
EUR - The EUR could not hold the gains of yesterday's trading permanently
A better than expected German Ifo business climate index has led to the start of yesterday's trading to a brief rise of the euro. The EUR / USD pair was increased compared to the previous evening by over 100 pips and rose to 1.3340. Apart from this, led to concerns that the euro zone could fall again this year into a recession, means that the single currency had to leave a day later from earlier gains. The EUR / USD pair traded most of the day below the level of 1.3300, while EUR / CHF pair during European trading down to 1.2044 sank.
Today, the movements of the EUR should likely be determined by notices from the euro zone. Negative news regarding the economic recovery in the euro zone could cause investors to turn away from riskier assets. Consequently, the euro could increase its declining trend. On the other hand, the data should be the U.S. Home Sales on the expected 316 000 new buildings, the euro could benefit from an upswing and recorded against the USD.
JPY - The yen recorded short-term boost to the USD
The Japanese yen saw gains against the USD short-term, after he had fallen the day before on a 7-month low. The downward movement of the USD / JPY pair was profit-taking on the part attributed to investors who saw the pair as overbought. According to most analysts expected a long-term upward trend of this pair will be possible only if the United States increased its key interest rate. The USD / JPY pair fell in European trading up to 80.03 before settling back to the recovered value of 80.25.
End of the week should Yen traders pay attention to the data sent to the U.S. sales of domestic buildings, which are published at 15:00 GMT clock. Analysts predict that the data are higher than those of the previous month. If this is true, should the USD recorded further gains against the yen. However, should the number be less than the expected 316 000, the yen could make up some of its losses.
Crude Oil - Crude oil inventories rise in U.S. crude oil prices led to a decline in
Crude oil prices fell yesterday for the first time in six days, as hinted at an increase of U.S. crude oil inventories to a decline in demand. However, the crude oil price falls below the value of $ 106 per barrel fell, he was given the ongoing tensions between Iran and the West is still relatively high. The raw materials fell in European trading to $ 105.60 per barrel on.
Today the price of crude oil is expected to be re-determined to a large extent by the conflict with Iran. Evidence that Iran will limit oil exports are likely to continue to push the price of crude oil up before the markets close for the weekend. If, however, be released from the Euro zone negative statements about the economic recovery, this could cause a downturn in crude oil prices.
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