Daily review of the market. by OpenForex.com

Daily review of the market.

07:04 07/27/2004

Daily review of the market. Market activity was rather low on Monday due to expecting series of important data on the U.S. Investors are looking forward to the release of Consumer confidence index, durable goods index in the U.S. and U.S. GDP in the second quarter. Analysts forecast that all of the expected indicators might produce insignificant effect on the market, as the majority of index will reflect June state, the month that Grrenspan characterized as the month of “short-term and temporary” trends. As National Association of Realtors reports, Home ales on the secondary real estate market of the U.S. rose by 2.1% to 6.95 million homes in annual estimation in June compared to 6.81 million in May. Analysts had looked for 2.2% dip in sales to 6.65 million homes from the earlier reported May level of 6.8 million homes. Sales have been rising for the second straight month. Sales have been exceeding the mark in 6 million homes for the twelfth straight month. Secondary market takes up about 85% of the total real estate market in the U.S. Quarterly report of Confederation of British Industry, CBI, notes that processing industry is recovering in Britain, though at a slow pace. Quarterly balance of new orders for July rose by +2% against +18% in April, domestic orders stand –2% against +12% in April. CBI report points that rise in new orders practically stopped, as Central Bank is expected to raise discount rate.

The forecast was created by trans1.