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. See our updated Privacy Policy here.

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
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
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
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
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/cKOUmtj7Dj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/TnL91f7sl7
  • Human error in the forex market is common and often leads to familiar trading mistakes. These trading mistakes crop up particularly with novice traders on a regular basis. Learn about the top ten trading mistakes and how you can avoid them here: https://t.co/i8E2AXtzF3 https://t.co/cDcjl3Ue09
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/KWOX5wSipe
  • What is your forex trading style? Take the quiz and find out: https://t.co/YY3ePTpzSI https://t.co/cwSWCpKtaj
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here: https://t.co/mfwJ0sZLTs https://t.co/zu5hMovbz6
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/QMKyTBOKNG
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/aRkGoNvj6D
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/ltVTNO2sjT
  • GBP/USD clears the May low (1.3801) as the Federal Reserve forecasts two rate hikes for 2023. Get your $GBP market update from @DavidJSong here:https://t.co/WdTG2niAKz https://t.co/2j02VyH0wm
Forex: US New Home Sales Fell 0.3% in October; USD/JPY Weakens

Forex: US New Home Sales Fell 0.3% in October; USD/JPY Weakens

Renee Mu, Currency Analyst

THE TAKEAWAY: [US new home sales unexpected declined in October] > [Showing limited progress in housing market recovery] > [USD/JPY Weakens]

Sales of new single-family homes in the U.S. dropped 0.3% to 368,000 in October according to the estimates released jointly by the U.S. Consensus Bureau and the Department of Housing and Urban Development. The median forecast of economists surveyed by Bloomberg News had projected a 0.3% increase to 390,000 in October. September’s figures were revised downwards to a 0.8 percent increase to 369,000, from the initial figures of a 5.7 percent gain to 389,000.

Purchases fell in two of four regions last month. In the Northeast, home purchases dropped 32.3 percent due to a ‘minimal’ effect on the data from superstorm Sandy according to the Commerce Department. Sale in the south fell 11.8 percent to 14,000 the same level as in August. The lower sales at the end of the year add to signs of limited progress in the housing market. At the same time, tight lending standards may prevent a bigger recovery in the market.

USD/JPY 1-minute Chart: November 28, 2012

US_New_Home_Sales_Fell_in_October_body_1128-2.jpg, Forex: US New Home Sales Fell 0.3% in October; USD/JPY Weakens

In the minutes following the data release, the U.S. dollar dropped against the major currencies, falling 6 pips against the Japanese Yen to 81.75. 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. At the time of this report, the USD/JPY was trading at 81.77.

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

DISCLOSURES