Tag: usd

Pound Trades Lower Against Most Majors

The pound traded lower against most major rivals in late Asian trading on Monday.

The pound pared gains to 143.51 against the yen, 1.2565 against the franc and 0.8525 against the euro, from its early highs of 144.20, 1.2616 and 0.8497, respectively. …

U.s. New Home Sales rise Faster Than Market Expectations, Likely to Ease in 2017

New home sales in the United States rose during the month of November, beating what markets had initially expected on higher anticipations of a rise in mortgage lending rates after the Federal Reserve raised interest rates for the first time in a year on December 14.

U.S. new home sales increased 5.2 percent to a seasonally adjusted annual rate of 592,000 units last month. October’s sales pace was unrevised at 563,000 units, data released by the Commerce Department showed Friday. Economists polled by Reuters had forecast single-family home sales, which account for about 9.5 percent of overall home sales, rising 2.1 percent to a 575,000-unit rate last month.

On a regional basis, the picture was mixed, with sales falling for the fourth consecutive month in the South and remaining unchanged in the Northeast. Sales in the West rose 7.6 percent m/m, but the overall gain at the national level was driven by a 44 percent m/m surge in the Midwest.

Unseasonably warm weather in the region may have boosted November sales. Despite the mixed monthly picture, national sales are up 16.5 percent y/y, and at an annual pace of 600k units, new home sales will likely support further improvements in residential investment. The housing market remains healthy.

Meanwhile, the dollar index traded at 102.87, down -0.14 percent, while at 6:00GMT, the FxWirePro’s Hourly Dollar Strength Index remained neutral at -14.80 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex

The material has been provided by InstaForex Company – www.instaforex.com

Chinese Sovereign Bonds Gain As President Xi Jinping Dumps 6.5 Pct Economic Growth Target

The Chinese sovereign bonds gained Monday as President Xi Jinping dumped economic growth target of 6.5 percent in his Friday’s speech, targeting debt bubble and economic outlook. We foresee that bond prices will keep drifting between small gains and losses in quiet trading session.

The yield on the benchmark 10-year bonds, which moves inversely to its price, fell nearly 2 basis points to 3.19 percent, the long-term 30-year bond yield dipped 3 basis points to 3.76 percent and the yield on the short-term 2-year bonds slid 7 basis points to 2.99 percent.

According to Bloomberg’s report, told a meeting of the Communist Party’s financial and economic leading group on Friday that the country may forego its 6.5 percent economic growth objective due to concerns about rising debt and an uncertain outlook for Asia’s largest economy.

Some meeting participants sounded the alarm about unsustainable debt, noting that other nations have experienced crises after borrowing climbed to around 300 percent of GDP, the person said. China’s debt-to-GDP ratio rose to about 270 percent this year, they added.

Meanwhile, People’s Bank of China sets the USD/CNY reference rate at 6.9459, stronger than Friday’s 6.9463. The China’s blue-chip CSI300 index traded flat at 3,307.16 points, while the Shanghai Composite Index traded marginally lower, falling 0.15 percent to 3,105.37 points.

The material has been provided by InstaForex Company – www.instaforex.com

Japan's Oct Leading Index Rises Less Than Estimate

Japan’s leading index climbed less than estimated in October but the score was the highest in almost one year, final data from the Cabinet Office showed Monday.

The leading index, which measures the future economic activity, rose to 100.8 in October…