FX & CFD trading involves significant risk
During the U.S. session, the greenback shows moderate gains against major currencies. Market participants expect the publication of the minutes of the last meeting of the Federal Open Market Committee Federal Reserve, hoping to get more information about the prospects for monetary policy the Fed.
Support for the U.S. dollar has also had a strong statistics on the housing market in the U.S.. The report showed that sales in the secondary market in July rose to the highest level in nearly four years. This may reflect a jump in activity of buyers who want to complete the transaction before the mortgage rates will rise even higher. It reported sales of existing homes in July rose by 6.5% compared with the previous month to 5.39 million homes a year. July was the best month for sales since November 2009, when the tax credit for home buyers spurred activity in the market. Economists had forecast that sales will reach 5.15 million homes a year.
Quite volatile trading pound. Influence on its dynamics have provided the publication of macroeconomic reports. Sterling was able to update the session high against the dollar due to the released data on the balance of industrial orders from the Confederation of British Industry (CBI). The survey recorded 400 manufacturers that balance index of industrial orders in August reached the zero mark against -12 points in July and expectations of improvement to -8 points. The August figure was the highest value in the last 2 years and was another signal that the British economy is gaining momentum.
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