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
Oil - US Crude
Bullish
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Bearish
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/5uSWKoLkd6 https://t.co/5fpiYso1Cd
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 100.00%, while traders in Germany 30 are at opposite extremes with 65.58%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/ZRDJ40Pm7N
  • Commodities Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.71% Silver: 0.20% Gold: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/zqmOlNxmzC
  • Forex Update: As of 11:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.13% 🇨🇦CAD: -0.01% 🇪🇺EUR: -0.05% 🇦🇺AUD: -0.08% 🇨🇭CHF: -0.09% 🇬🇧GBP: -0.10% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/0T6Gdfci9d
  • Indices Update: As of 11:00, these are your best and worst performers based on the London trading schedule: Germany 30: 1.41% France 40: 0.99% FTSE 100: 0.54% Wall Street: -0.06% US 500: -0.18% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/9YQNC5TRy0
  • Heads Up:🇧🇷 BCB Copom Meeting Minutes due at 11:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-01-26
  • Defensive stocks have proven critically important when navigating stock market volatility. Find out what are the most defensive stocks here:https://t.co/TMcbMALtbw https://t.co/gEojx3lvZH
  • 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/GIR5NQK5G7
  • Italian PM Conte confirms to cabinet that he is resigning - government source https://t.co/tYi5sjp79w
  • BoJ's Kuroda says monetary policy does have some limits in trying to achieve inflation target $JPY
US Jan New Home Sales Jumps to Highest Since 2008; USDJPY Bullish

US Jan New Home Sales Jumps to Highest Since 2008; USDJPY Bullish

Renee Mu, Currency Analyst

THE TAKEAWAY: [US New Home Sales rose in January to the highest level since July 2008; February Consumer Confidence beat forecast ] > [ Americans adjusted to new payroll tax; housing market continues recovering ] > [USD/JPY Strengthened]

Sales of new homes in US surged in January to the highest level since July 2008, indicating that the demand for homes purchases continue increasing. According to a report released by the Commerce Department today, the sales rose 15.6 percent to 437,000 following a revised decline of 3.8 percent in previous month. The consensus forecast of economist in a survey polled by Bloomberg News had called for an increase of 3.0 percent to 380,000. The near-record low mortgage rates and a stronger job market help to attract more buyers and improve the demand for new home sales.

Another report today showed that confidence among U.S. consumers increase more than expected in February. The confidence index climbed to 69.6 following a revised 58.4 in January. It was the first improvement in four months and the biggest since November 2011. The economist surveyed by Bloomberg had projected a median forecast of 62.0. Positive readings signal that Americans have adjusted to a higher payroll tax and gained confidence as housing market continues picking up. In addition, more jobs are available on labor markets and thus households can keep their income. Rising property values also add wealth to home owners, helping to spur faith on their future spending.

USDJPY 1-minute Chart: February 26, 2013

US_Jan_New_Home_Sales_Jumps_to_Highest_Since_2008_USDJPY_Bullish_body_Picture_1.png, US Jan New Home Sales Jumps to Highest Since 2008; USDJPY Bullish

Chart created using Market Scope – Prepared by Renee Mu

In the minutes following the reports released, the U.S. dollar soared against the major currencies, rallying 27 bps versus Japanese Yen to 92.34. At the time of this report written, the USD/JPY was trading at 91.77.

--- Written by Renee Mu DailyFX Research

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

DISCLOSURES