The US economy is starting to show signs of stress in the housing sector again. After yesterday’s S&P/Case-Shiller index showed that housing prices dropped to their lowest post-crisis (2008) levels, today’s Pending Home Sales reading for April has solidified concerns. From March, sales dropped by 5.5 percent, while on a yearly-basis sales increased by 14.7 percent. According to a Bloomberg News survey, market participants were expecting no change in the monthly reading, but were anticipating a massive 22.0 percent increase year-over-year. Even in comparison to the prior figures, which were revised down to 3.8 percent m/m (from 4.1 percent) and 10.5 percent y/y (from 10.8 percent), it’s clear that this report was all-around disappointing.
US Dollar Technical Positioning Still Warns of Pullback in Days Ahead
THE TAKEAWAY: US Dollar technical positioning continues to warn of a larger corrective pullback in the coming days before the larger bullish trend regains momentum.
S&P 500 – Prices took out resistance at 1325.40 to expose the next upside barrier at 1341.90. A break above this boundary exposes 1358.90. The 1325.40 level has been recast as near-term support, with a push back below here on a daily close basis opening the door for a challenge of 1311.10.
Advantages of the Forex Market
What are the advantages of the Forex Market over other types of investments?
When thinking about various investments, there is one investment vehicle that comes to mind. The Forex or Foreign Currency Market has many advantages over other types of investments. The Forex market is open 24 hrs a day, unlike the regular stock markets. Most investments require a substantial amount of capital before you can take advantage of an investment opportunity.