** YoY = Year over Year ** MoM = Month over Month | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
USD The Dollar fell broadly on Monday as a rise in US new-home sales last month boosted risk appetite at the expense of the Dollar’s safe-haven appeal. Investors sold the dollar after data showing sales of new single-family homes in the United States rose 11 percent in June from the prior month. Analysts said data shows further evidence that the housing sector, which led the economy into the current recession, was starting to rebound. On a three-month moving average, the report suggested that new home sales may have hit a bottom in January, and are starting to increase slightly. At 10:45PM GMT, the Dollar was down .21% to the Euro to 1.4232, down .4% to the British Pound to 1.6487, down .5% to the Canadian Dollar to 1.0823, down .7% to the Australian Dollar to .8219, down .02% to the Kiwi to .6557 and down .11% to the Swiss Franc to 1.0706. The Dollar did rise to the Japanese Yen to 135.45. Chart: EURUSD EURUSD - the persistent fake-outs continue, as EURUSD touches to a new local high today, only to dive back down into the range. Technical trading has been frustrated at almost every turn lately as we await a bigger expansion in volatility and move out of the range before trying to draw a bead on the technical’s. Important tactical downside confirmation level for a possible bigger move lower comes in around 1.4200/1.4180. Otherwise, the 1.4338 looms as the obvious upside barrier for now. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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