Evening review EURUSD 06/23/2020

Trading 23 juin 2020 Commentaire »

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EURUSD: The euro has overcome 1.1300, reached 1.1355 and is consolidating above 1.1300 - now the technical retracement is normal.

You can buy the euro from 1.1300.

We keep purchases from 1.1255, stop at 1.1230 - the first target is 1.1420.

The material has been provided by InstaForex Company - www.instaforex.com

WTO Estimates 18.5% Fall In Global Trade In Q2

Trading 23 juin 2020 Commentaire »

Global trade volumes shrank around 18.5 percent year-on-year in the three months to June when the coronavirus pandemic and the subsequent lockdown restrictions were at their peak in most countries, the World Trade Organisation said Tuesday. In the first quarter, the merchandise trade volume decreased 3 percent. "These declines are historically large, but could have been much worse," the WTO Director-General Roberto Azev?do said. The trade body said its economists now believe that while trade volumes will register a steep decline in 2020, they are unlikely to reach the worst-case scenario of a 32 percent slump projected in April.

In April, the WTO also forecast an optimistic scenario that saw a 13 percent decline this year. To achieve this, world trade only need to grow 2.5 percent per quarter for the rest of the year.

Looking ahead to 2021, adverse developments, including a second wave of COVID-19 outbreaks, weaker than expected economic growth, or widespread recourse to trade restrictions, could see trade expansion fall short of earlier projections, WTO said.

World trade was forecast to grow 21.3 percent next year, under the optimistic scenario, while it was projected to increase 24 percent in the pessimistic scenario. "For output and trade to rebound strongly in 2021, fiscal, monetary, and trade policies will all need to keep pulling in the same direction," Azev?do said.


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U.S. New Home Sales Spike Much More Than Expected In May

Trading 23 juin 2020 Commentaire »

New home sales in the U.S. showed a substantial increase in the month of May, according to a report released by the Commerce Department on Tuesday.

The report said new home sales spiked by 16.6 percent to an annual rate of 676,000 in May from a significantly downwardly revised rate of 580,000 in April.

Economists had expected new home sales to jump 2.7 percent to an annual rate of 640,000 from the 623,000 originally reported for the previous month.

The downwardly revised data for April indicates new home sales plunged by 5.2 percent during the month compared to the previously reported 0.6 percent uptick.

New home sales in the Northeast skyrocketed by 45.5 percent to a rate of 32,000, home sales in the West soared by 29.0 percent to a rate of 169,000 and home sales in the South surged up by 15.2 percent to a rate of 402,000.

Meanwhile, the report showed a notable decrease in new home sales in the Midwest, which tumbled by 6.4 percent to a rate of 73,000.

The Commerce Department said the median sales price of new houses sold in May was $317,900, up 4.9 percent from $303,000 in April and up 1.7 percent from $312,700 in the same month a year ago.

The estimate of new houses for sale at the end of May was 318,000, representing 5.6 months of supply at the current sales rate.

On Monday, the National Association of Realtors released a separate report showing existing home sales in the U.S. tumbled by much more than anticipated in the month of May.

NAR said existing home sales plunged by 9.7 percent to an annual rate of 3.91 million in May after plummeting by 17.8 percent to a rate of 4.33 million in April. Economists had expected existing home sales to slump by 4.8 percent to a rate of 4.12 million.

However, NAR chief economist Lawrence Yun expressed confidence home sales will rise in the coming months as the economy reopens.


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*U.S. Dollar Slides To Near 2-week Low Of 0.9425 Against Franc

Trading 23 juin 2020 Commentaire »

U.S. Dollar Slides To Near 2-week Low Of 0.9425 Against Franc


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*U.S. Dollar Declines To 106.21 Against Yen, Lowest Since May 7

Trading 23 juin 2020 Commentaire »

U.S. Dollar Declines To 106.21 Against Yen, Lowest Since May 7


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Little Changed Following U.S. New Home Sales

Trading 23 juin 2020 Commentaire »

After the release of U.S. new home sales for May at 10:00 am ET Tuesday, the greenback changed little against its major counterparts.

The greenback was trading at 106.28 against the yen, 0.9434 against the franc, 1.2490 against the pound and 1.1334 against the euro around 10:03 am ET.


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*U.S. New Home Sales Spike 16.6% In May

Trading 23 juin 2020 Commentaire »

U.S. New Home Sales Spike 16.6% In May


The material has been provided by InstaForex Company - www.instaforex.com

Dollar Falls Ahead Of U.S. New Home Sales

Trading 23 juin 2020 Commentaire »

The US Commerce Department will release new home sales for May at 10:00 am ET Tuesday.

Ahead of the data, the greenback dropped against its major counterparts.

The greenback was worth 106.31 against the yen, 0.9436 against the franc, 1.2490 against the pound and 1.1334 against the euro as of 9:55 am ET.


The material has been provided by InstaForex Company - www.instaforex.com

*Global Trade Volumes Unlikely To Reach Worst-case Scenario Seen In April: WTO

Trading 23 juin 2020 Commentaire »

Global Trade Volumes Unlikely To Reach Worst-case Scenario Seen In April: WTO


The material has been provided by InstaForex Company - www.instaforex.com

*Extraordinary EU Council Meeting On July 17-18 On Recovery Package And Long-term Budget

Trading 23 juin 2020 Commentaire »

Extraordinary EU Council Meeting On July 17-18 On Recovery Package And Long-term Budget


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