News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Wall Street
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Bearish
More View more
Real Time News
  • Technical analysis of charts aims to identify patterns and market trends by utilising differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/RSHYD7kI4B
  • The London trading session accounts for around 35% of total average forex turnover*, the largest amount relative to its peers. The London forex session overlaps with the New York session. Learn about trading the London forex session here: https://t.co/dWaWQ0MK1V https://t.co/BAUGbFNJ9d
  • IHS Markit “Services have once again been especially hard hit, but manufacturing has seen growth almost stall, blamed on a cocktail of COVID-19 and Brexit, which has led to increasingly widespread supply delays, rising costs and falling export" https://t.co/4lzdYJNqLu
  • 🇬🇧 Markit/CIPS UK Services PMI Flash (JAN) Actual: 38.8 Expected: 45 Previous: 49.4 https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇬🇧 Markit/CIPS Manufacturing PMI Flash (JAN) Actual: 52.9 Expected: 54 Previous: 57.5 https://www.dailyfx.com/economic-calendar#2021-01-22
  • 🇬🇧 Markit/CIPS Composite PMI Flash (JAN) Actual: 40.6 Expected: 45.5 Previous: 50.4 https://www.dailyfx.com/economic-calendar#2021-01-22
  • Litecoin IG Client Sentiment: Our data shows traders are now at their most net-long Litecoin since Nov 25 when Litecoin traded near 81.55. A contrarian view of crowd sentiment points to Litecoin weakness. https://www.dailyfx.com/sentiment https://t.co/48NRtK0I8O
  • Heads Up:🇬🇧 Markit/CIPS UK Services PMI Flash (JAN) due at 09:30 GMT (15min) Expected: 45 Previous: 49.4 https://www.dailyfx.com/economic-calendar#2021-01-22
  • Heads Up:🇬🇧 Markit/CIPS Manufacturing PMI Flash (JAN) due at 09:30 GMT (15min) Expected: 54 Previous: 57.5 https://www.dailyfx.com/economic-calendar#2021-01-22
  • Heads Up:🇬🇧 Markit/CIPS Composite PMI Flash (JAN) due at 09:30 GMT (15min) Expected: 45.5 Previous: 50.4 https://www.dailyfx.com/economic-calendar#2021-01-22
U.S. New Home Sales in January Beat Forecast, Suggests Signs of Stabilization

U.S. New Home Sales in January Beat Forecast, Suggests Signs of Stabilization

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [Sales of new U.S. single-family homes in January higher than forecast, December’s print revised upwards by 17,000] > [Adds to signs of stabilization of housing market] > [USDollar weakens]

Sales of new single-family homes in the U.S. dipped to a seasonally adjusted annual rate of 321,000 in January, according to estimates released jointly by the U.S. Consensus Bureau and the Department of Housing and Urban Development. Although January’s print of 321,000 exceeds the consensus forecast of 315,000 per a Bloomberg news survey, the unexpected fall in sales was due to revisions to December’s figures. December’s figures were revised upwards to a 1.9 percent increase to 324,000, from the initial figures of a 2.2 percent decline to 307,000. Based on the revised figures, sales of new homes declined in January for the first time in five months.

The higher sales at the end of the year add to signs of stabilization in the housing market, while the better-than-expected January sales should bolster further consumer spending in the near-term. Further supporting these signs of stabilization in the housing sector are the better-than-forecast January prints for building permits and new housing starts that were released last Thursday.

USD/CAD 1-minute Chart: February 24, 2012

U.S._New_Home_Sales_in_January_Beat_Forecast_body_Picture_1.png, U.S. New Home Sales in January Beat Forecast, Suggests Signs of Stabilization

Chart created using Strategy Trader– Prepared by Tzu-Wen Chen

In the minutes following the data release, the U.S. dollar tumbled against the major currencies, falling 17 pips against the Canadian dollar to a low of $0.9972. However, as markets corrected, the greenback quickly pared most of its losses, though it remained at lower levels than those seen prior to the data release. Despite the better-than-expected sales in January, the revisions to December’s figures indicated a slight cooling of the housing market. At the time of this report, the U.S. dollar was trading at $0.9981 against the loonie.

--- Written by Tzu-Wen Chen DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES