According to Conference Board, the US leading economic index lost 0.1% in April, thus reaching 95.5 points. Analysts had anticipated a 0.15 increase.
According to the revised April report, the index gained 0.3% against February’s readings.
The given index is based on a number of economic indexes, including unemployment claims, manufacturing orders, building permits, stock prices etc.
According to the latest report published by the Federal Reserve, the situation with US manufacturing orders improved in April. The given indicator gained 1.1%, thus showing the highest increase since December 2010. As for the US unemployment claims report, the latest US unemployment claims report showed 375K.
According to Masterforex-V Academy, the USD index keeps rallying in the form of wave C of Weekly started at 79.62The closest levels of resistance are 82,14; 82,37 and 82,46. A change of trend will be probable if the price breaks and consolidates below 80,10.
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Yesterday, the common European currency was under pressure exerted by the sellers.
EURUSD started going down since the local high of 1.3218. By the endo of the trading day, the price reached 1.3159. his is still the local low.
Yesterday, we saw positive stats coming from the USA. They concerned the local labor and housing market. In particular, the amount of initial jobless claims shrank from 299 000 down to 298 000 last week, which is definitely a positive sing for those who purchase the US Dollar.
At the same time, the amount of incomplete sales in the local housing market increased up to 3.3% in August. The sales increase took place from 102.5 points up to 105.9 points.
Today, on August 29th, Japan delivered a news block of 4 economic reports during today's Asian trading session. The news block indicates that the economic recovery seen after the recent sales tax increase is unstable and inconsistent. Most likely, the recovery period is going to be longer than expected by the Bank of Japan.
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The strong downward pressure exerted by the sellers of EURUSD weakened a little bit suring yesterday's trading hours. After hitting a local low at 1.3152, the common European currency started regaining some of the lost ground against the US Dollar. The bullish recovery took almost the entire trading day amid a lack of major economic news from the Eurozone and the USA.
The sellers' pressure exerted on the common European currency is still underway. Since the nightly low of 1,3152, the currency pair recovered during the entire European trading session of August 27th but the started going down again. The price level of 1.3188 is still the intraday high.
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In the conditions of unstable global economy more and more citizens are obliged to “tighten their belts”. Especially when salary is never enough, and one has to save almost on everything in order to live normally.
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