• Foreign exchange market. European session: the U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data

Market news

26 August 2014

Foreign exchange market. European session: the U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

02:00 China Leading Index July +1.3% +1.3%

08:30 United Kingdom BBA Mortgage Approvals July 43.3 44.2 42.8

The U.S. dollar traded mixed against the most major currencies ahead of the U.S. economic data. Durable goods orders in the U.S. are expected to rise 7.4% in July, after a 1.7% increase in June.

S&P/Case-Shiller home price index is expected to climb 8.2% in June, after a 9.3% rise in May.

The U.S. consumer confidence index is expected to decline to 89.1 in August from 90.9 in July.

The greenback remained supported by Friday's comments by Federal Reserve Chair Janet Yellen in Jackson Hole. Janet Yellen said that the U.S. labour market is not yet fully recovered. But she added that the U.S. labour market was improving. The Fed Chair Yellen offered no signal when the Fed will start to raise its interest rate.

Market participants continue to monitor developments in Ukraine. Russian President Vladimir Putin will meet Ukrainian President Petro Poroshenko in Minsk today.

The euro traded mixed against the U.S. dollar in the absence of any major economic reports from the Eurozone.

Friday's comments by the ECB President Mario Draghi still weighed on the euro. The European Central Bank (ECB) President Mario Draghi said in Jackson Hole the ECB could add new stimulus measures should inflation decline further. He also said inflation expectations were showing a significant fall.

The British pound traded mixed against the U.S. dollar after the weaker-than-expected mortgage approvals data from the UK. Mortgage approvals in the UK increased by 42,800 in July, missing expectations for a rise of 44,200, after a gain of 43,200 in June. June's figure was revised down from 43,300.

EUR/USD: the currency pair traded mixed

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

12:30 U.S. Durable Goods Orders July +1.7% Revised From +0.7% +7.4%

12:30 U.S. Durable Goods Orders ex Transportation July +1.9% Revised From +0.8% +0.5%

12:30 U.S. Durable goods orders ex defense July +0.7%

13:00 U.S. S&P/Case-Shiller Home Price Indices, y/y June +9.3% +8.2%

14:00 U.S. Consumer confidence August 90.9 89.1

Market Focus
Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer
Open Demo Account & Personal Page
I understand and accept the Privacy Policy and agree to my name and contact details being used by TeleTrade to contact me about this.