Daily market technical Analysis And outlook By ACFX.com
Posted: Fri Mar 23, 2012 4:43 amMarch 23th, 2012
Currencies
EUR/USD rose up after Federal Reserve Chairman Mr. Bernanke said the U.S. economy is operating below its level prior to the financial crisis, and that increased household spending is needed to sustain the expansion.
Consumer spending is not recovered, it’s still quite weak relative to where it was before the crisis,” Bernanke said yesterday in his speech going in the history of the Fed that he plans to deliver at George Washington University. “In terms of debt and consumption and so on we’re still way low relative to the patterns before.”
Purchases of new homes in the U.S. probably rose in February to the highest level of the year.
Sales, tabulated when contracts are signed, climbed 1.3 % to a 325,000 annual pace, the fastest since December 2010. That would mark the 5th gain in six months.
Existing-home purchases eased to a 4.59 million annual rate last month from a 4.63 million pace in January, the National Association of Realtors reported this week. Even with the decline, January and February sales marked the strongest start to a year since 2007.
USD/CAD Canadian Dollar had weakened against US Dollar for the first time in 2 weeks. It declined for a 3rd day as a report showed January retail sales grew at less than a third of the rate economists predicted. U.S. equities, crude oil and copper fell as the appetite for higher-yielding assets waned.
Canada’s dollar depreciated after reports on manufacturing in Europe and China fueled concern that global growth was slowing, spurring demand for the safest of assets
Currencies
EUR/USD rose up after Federal Reserve Chairman Mr. Bernanke said the U.S. economy is operating below its level prior to the financial crisis, and that increased household spending is needed to sustain the expansion.
Consumer spending is not recovered, it’s still quite weak relative to where it was before the crisis,” Bernanke said yesterday in his speech going in the history of the Fed that he plans to deliver at George Washington University. “In terms of debt and consumption and so on we’re still way low relative to the patterns before.”
Purchases of new homes in the U.S. probably rose in February to the highest level of the year.
Sales, tabulated when contracts are signed, climbed 1.3 % to a 325,000 annual pace, the fastest since December 2010. That would mark the 5th gain in six months.
Existing-home purchases eased to a 4.59 million annual rate last month from a 4.63 million pace in January, the National Association of Realtors reported this week. Even with the decline, January and February sales marked the strongest start to a year since 2007.
USD/CAD Canadian Dollar had weakened against US Dollar for the first time in 2 weeks. It declined for a 3rd day as a report showed January retail sales grew at less than a third of the rate economists predicted. U.S. equities, crude oil and copper fell as the appetite for higher-yielding assets waned.
Canada’s dollar depreciated after reports on manufacturing in Europe and China fueled concern that global growth was slowing, spurring demand for the safest of assets