Tuesday, April 25, 2017 10:38 AM EDT
US consumer confidence drops to 120.3, a bigger drop than had been expected but still a high score. New home sales jumped by 5.8% to 621K in March, much better than 583K projected. The figure for February was revised down from 592K to 587K.
The US dollar is slightly stronger in the immediate aftermath, rising within the known ranges.
The Conference Board’s consumer confidence measure was expected to settle lower in April: 122.5 points. The measure jumped to 125.6 in March, the highest in many years. However, this is not backed by an increase in retail sales.
New home sales carried expectations for a 0.8% drop to 583K in March after 592K in February (before revisions).
Earlier, the Case-Shiller 20-city HPI showed a rise of 5.85% in house prices y/y in February, marginally above expectations.
The US dollar was on the back foot against the majors but gaining against commodity currencies.
- EUR/USD edged higher in the higher range, enjoying the enjoying Macron’s ascent to the second round of the French elections. A fresh poll still puts him on top with 61%.
- GBP/USD rose to 1.2820. UK GDP data is the next big thing.
- USD/JPY continued its upwards march, buoyed also by the favorable French elections.
- USD/CAD continued advancing. Trump’s feud with Canada over dairy products as well as timber and lumber weighs on the loonie. More: Trump’s timber tax hurts the C$.
- AUD/USD was sliding to around 0.7525
- NZD/USD dipped under 0.70.
Disclaimer: Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader's level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market. Any comments made on Forex Crunch or on other sites that have received permission to republish the content originating on Forex Crunch reflect the opinions of the individual authors and do not necessarily represent the opinions of any of Forex Crunch's authorized authors. Forex Crunch has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: Omissions and errors may occur. Any news, analysis, opinion, price quote or any other information contained on Forex Crunch and permitted re-published content should be taken as general market commentary. This is by no means investment advice. Forex Crunch will not accept liability for any damage, loss, including without limitation to, any profit or loss, which may either arise directly or indirectly from use of such information.
less
How did you like this article? Let us know so we can better customize your reading experience.