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Forex · News · USMarketNEWS / USMarket |
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Market’s daily review
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10:14 11/29/2005
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Trading week has begun favorably for dollar. The tendency of strengthening of the American currency proceeded on Monday.
Dollar was supported by the data testifying to high volumes of retails on the first Friday after Thanksgiving Day, which is considered the beginning of a season of Christmas sales in the USA, and also by reduction of oil prices.
However, subsequently the American currency has dipped against the basic world currencies.
Dollar falling has been provoked by data on sales of existing houses in the USA, together with a number of technical factors.
Dealers notice that in conditions of sluggish activity some investors have started to lock the long positions at dollar rate, it led to act stop-orders on dollar sales that has strengthened movement.
According to the given data, in October the sales volume in the secondary housing market in the US reduced on 2.7 % to 7.09 million
Tenant houses sales decreased on 4.4 %, and sales of houses for 1 family decreased on 2.5 %. Sales have decreased practically in all regions.
In its turn reduction in sales assumes that the housing market will influence negatively GDP.
Moods of German consumers will decrease in December after small improvement in November.
According to data of monthly market research GfK, published on Monday, in November the consumer climate index picked up to 3.3 in comparison with the revised October value of 3.2.
The last month GfK forecast on consumer confidence made up 3.4 in November.
Now the institute expects that in December the drop of Ifo business sentiment index for November and small letdown of indicators of ZEW research, give the new bases to assume that buoyancy of the largest economy of Europe is still very fragile.
The prices for houses in Great Britain did not change in November, having stemmed the sixteen months falling.
In October of the price decreased on 0.1 % in comparison with September.
In comparison with the same period of the last year, the prices for houses decreased on 2.5 % in November after falling on 3.5 % in October.
According to the statement of the Ministry of Economics, Trade and the Industry of the country, a sales volume in Japan, total amount of sales of wholesale and retail trade, grew on 1.9 % in October concerning the similar period of the last year
The forecast was created by trans2.
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