Tag Archive: U.S. New Home Sales

New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated.

FX Daily, May 26: Fear is Still on Holiday

2020-05-26

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2020-05-26

Overview: The heightened tensions between the US and China sapped risk-appetites before the weekend, but appear to be missing in action today.  Equity markets have rebounded strongly. Nearly all the equity markets in the Asia Pacific region rose (India was a laggard) led by an almost 3% rally in Australia, which was seen as particularly vulnerable to the Sino-American fissure. 

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FX Daily, November 26: Some Are More Equal Than Others

2019-11-26

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2019-11-26

Overview: Neither optimistic comments from Federal Reserve Chairman, that the economic glass is more than half full, nor a seemingly positive spin on the weekend fall calendar between Chinese and US officials have succeeded in deterring some profit-taking today.

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FX Daily, October 24: Flash PMIs Disappoint Despite Negative Interest Rates

2019-10-24

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2019-10-24

Overview: As the UK awaits the EU's decision on its request, disappointing flash PMI readings Japan, Australia, and Germany have filled the news vacuum. Sweden's Riksbank retained a hawkish tone while keeping rates on hold, and Norway's Norges Bank also stood pat. The market expects Turkey to deliver a rate cut, while the ECB meeting is Draghi's last at the helm.

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FX Daily, April 23: Oil Extends Gains While Markets Await Fresh Incentives

2019-04-23

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2019-04-23

Overview: Financial centers that have been closed for the extended holiday have re-opened, but the news stream is light and market participants are digesting developments and positioning for this week's central bank meetings and the first look at Q1 US GDP. The US decision to end exemptions to the embargo against Iran led to a surge in oil prices, which are extending gains to new six-highs today.

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FX Daily, July 25: Narrow Ranges Prevail

2018-07-25

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2018-07-25

The US dollar is trapped in narrow trading ranges. That itself is news. At the end of last week ago, the US President seemed to have opened another front in his campaign to re-orient US relationships by appearing to talk the dollar down. Contrary to fears, and media headlines of a currency war, the dollar is fairly stable.

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FX Daily, May 23: Dollar and Yen Surge, European Data Disappoints

2018-05-23

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2018-05-23

The US dollar has extended its gains against most of the major currencies. Momentum, positioning, and divergence continue to drive it. The euro briefly traded a little below $1.17, an important technical area and has enjoyed a bounce in late morning turnover in Europe.

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FX Daily, April 24: Stalled US Rates Steal Greenback’s Thunder

2018-04-24

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2018-04-24

The US dollar looked set to launch a new leg higher, but rates stalled, which in turn is unleashing some mild corrective pressures. The US two-year yield has been unable to extend its increase beyond 2.50%, while the 10-year rate has stalled within a whisker of the 3% psychological threshold. The greenback's momentum did indeed carry it, but by late morning on the Continent, a consolidative tone was evident.

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New Home Sales (Predictably) Fall Out of the Boom, Too

2018-02-28

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2018-02-28

US Housing Construction, Jan 1985 - Jan 2018
New home sales were down sharply again in January 2018. For the second straight month, the level of purchase activity fell substantially despite what are otherwise always described as robust or even booming economic conditions. Like the sales of existing homes, the sales of newly constructed units should be both moving upward as well as being significantly more than stuck at this low level.

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FX Daily, February 26: Dollar Slides as Equities Extend Recovery

2018-02-26

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2018-02-26

The US dollar has begun the new week on heavy footing. It is being sold against virtually all the currencies, major and emerging market currencies. There is one exception, and although the local market is not open, the Mexican peso is under some pressure that could be linked to a dispute between the President of Mexico and the US that prompted the former to cancel a visit to the latter.

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FX Daily, January 25: And Now, a Word from Draghi

2018-01-25

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2018-01-25

With a backdrop of concern about US protectionism and a possible abandonment of the 23-year old strong dollar policy, and among the weakest sentiment toward the dollar in at least a decade, the ECB takes center stage. What a turn of events for Mr. Draghi, the President of the European Central Bank.

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FX Daily, November 27: Slow Start to Busy Week

2017-11-27

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2017-11-27

The US dollar is narrowly mixed and is largely consolidating last week's losses as the market waits for this week's numerous events that may impact the investment climate. These include the likelihood of the US Senate vote on tax reform, preliminary eurozone November CPI, a vote of confidence (or lack thereof) in the deputy PM in Ireland, Powell's confirmation hearing as Yellen's successor, the BOE financial stability report, and stress test, and...

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FX Daily, October 25: Sterling and Aussie Interrupt the Waiting Game

2017-10-25

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2017-10-25

Most participants seemed comfortable marking time ahead of tomorrow's ECB meeting, and an announcement President Trump's nominations to the Federal Reserve. However, softer than expected Australian Q3 CPI and a stronger than expected UK Q3 GDP injected fresh incentives. Australia reported headline CPI rose 0.6% in Q3.

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FX Daily, September 26: Weekend Election and North Korea Rhetoric Helps Greenback Remain Firm

2017-09-26

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2017-09-26

The US dollar is firmer against most major currencies today. The implications the Jamaica coalition in Germany is understood to be less likely to support a new vision for Europe in the aftermath of Brexit and the Great Financial Crisis. The euro's low for the year was set at the very start near $1.0340. The first quarter or so was spent consolidating the gains in H2 16. It was trading below $1.06 in early April.

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FX Daily, July 26: Quiet Fed Day without Yellen

2017-07-26

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2017-07-26

By definition, the Federal Reserve Open Market Committee meeting is the highlight of the day. Without a press conference, and following last month's rate hike, there is practically no chance of a new policy initiative either on the balance sheet or the Fed funds target.

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FX Daily, June 23: Dollar Pares Gains Ahead of the Weekend

2017-06-23

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2017-06-23

The US dollar is trading lower against all the major currencies today, which pares its earlier gains. The greenback is holding on to small gains for the week against most of them, except the New Zealand dollar, Swiss franc and Norwegian krone.

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FX Daily, April 25: Euro Consolidates Gains, Bond Market Sell-Off Continues

2017-04-25

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2017-04-25

The US dollar is again at the fulcrum of the foreign exchange market. The dollar-bloc currencies are under pressure, along with the Japanese yen, while the European complex is posting modest gains. The euro is consolidating in the half cent below $1.09. Yesterday's marked up in early Asia saw the euro complete the 61.8% retracement of the losses since the US election, which was found near $1.0935

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FX Daily, March 23: Some Thoughts about the Recent Price Action

2017-03-23

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2017-03-23

The gains the US dollar scored last month have been largely unwound against the major currencies. The dollar's losses against the yen are a bit greater, and it returned to levels not seen late last November. The down draft in the dollar appears part of a larger development in the capital markets that has also seen the US 10-year yield slide 25 bp in less than two weeks. The two-year yield is off 17 bp.

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FX Daily, February 24: Anxiety? What Anxiety?

2017-02-24

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2017-02-24

The US dollar is finishing the week on a mixed note in choppy activity in narrow ranges. It is an apt way to finish this week, which has been largely directionless as investors wait for fresh incentives, and are especially looking toward Trump's speech to a joint session of Congress next week.

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FX Daily, January 26: EUR/CHF collapses to 1.670

2017-01-26

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2017-01-26

FX Performance, January 26 2017 Movers & Shakers
The US dollar is mostly firmer against the major currencies but is confined to narrow ranges, and well-worn ranges at that, but the focus has shifted to the strong advance in equities. Yesterday, the Dow Jones Industrials finally rose through the psychologically-important 20k level, and the S&P 500 gapped higher to new record levels.

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FX Daily, December 23: Markets Edge into Holiday Weekend

2016-12-23

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2016-12-23

FX Performance, December 23 2016 Movers and Shakers
Asian shares trade heavily. The MSCI Asia-Pacific Index ex-Japan fell 0.4%. It is the fourth lower close this week and brings the loss to 1.75% for the week. It is fallen in seven of the past nine weeks. The Dow Jones Stoxx 600 is little changed on the session and is nursing a minor loss on the week and could snap a two-week advance.

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