U.S. Existing Home Sales Show Another Unexpected Increase In January

Trading 19 Fév 2021 Commentaire »

A report released by the National Association of Realtors on Friday showed another unexpected increase in U.S. existing home sales in the month of January.

NAR said existing home sales rose by 0.6 percent to an annual rate of 6.69 million in January after climbing by 0.9 percent to a revised rate of 6.65 million in December. Compared to the same month a year ago, existing home sales in January were up by 23.7 percent.

The continued growth came as surprise to economists, who had expected existing home sales to tumble by 2.2 percent to a rate of 6.61 million from the 6.76 million originally reported for the previous month.

With another unexpected increase, existing home sales further offset the steep drop seen in November, when sales pulled back sharply off the fourteen-year high set in October.

"Home sales continue to ascend in the first month of the year, as buyers quickly snatched up virtually every new listing coming on the market," said NAR chief economist Lawrence Yun. "Sales easily could have been even 20% higher if there had been more inventory and more choices."

The report also said the median existing-home price in January was $303,900, down 1.7 percent from $309,200 in December but up 14.1 percent from $266,300 a year ago.

Meanwhile, NAR said total housing inventory fell by 1.9 percent to 1.04 million units at the end of January from 1.06 million units at the end of December. Housing inventory is down 25.7 percent year-over-year.

The unsold inventory represents 1.9 months of supply at the current sales pace, unchanged from December but down from 3.1 months of supply a year ago.

The report said single-family home sales edged up by 0.2 percent to an annual rate of 5.93 million in January, while existing condominium and co-op sales jumped by 4.1 percent to a rate of 760,000.

"Home sales are continuing to play a part in propping up the economy," Yun said. "With additional stimulus likely to pass and several vaccines now available, the housing outlook looks solid for this year."

Next Wednesday, the Commerce Department is scheduled to release a separate report on new home sales in the month of January.


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

4th straight positive week for BTCUSD with new all time highs

Trading 19 Fév 2021 Commentaire »

BTCUSD is marching to new all time highs in a parabolic pattern. It is nice riding these waves but traders need to be cautious as the popularity of the specific cryptocurrency has reached the sky as opposed to when price was trading around $6,000-$7,000.

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Red lines -wedge pattern

The phenomenon called Bitcoin is skyrocketing the value of many portfolios. It has become a major trend in our life as price is breaking above $50,000. What is the next price target? Can this trend continue? Yes this trend can continue and betting against it is very risky. Taking into consideration the first big upward move that made Bitcoin popular and using the Fibonacci extension tool, we see something important.

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Bitcoin is approaching the 261.8% Fibonacci extension target. This does not necessarily mean that the trend will stop here, but the fact that there are increased chances of a top at these levels. So traders need to be very cautious.The material has been provided by InstaForex Company - www.instaforex.com

Short-term bullish pattern in EURUSD

Trading 19 Fév 2021 Commentaire »

EURUSD bulls have managed to respect the 61.8% Fibonacci retracement and have now formed a higher low at 1.2025. This is the most important short-term support level. Bulls need to defend this level otherwise we will see a break below 1.1950.

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Red line -resistance

Blue lines - Fibonacci retracement levels

EURUSD is back above 1.21 challenging recent highs. Price broke above the red resistance trend line, pulled back as a back test and bounced off the 61.8% level. This price pattern is bullish. In order to cancel this bullish pattern price must break the recent low. Bulls have the upper hand. They now need to break above the recent highs resistance at 1.2170 area. By doing this we will have a new upside target at 1.2250. If support and recent low at 1.2025 area fails to hold, then we should expect sharp decline.

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

Ichimoku indicator analysis of Gold

Trading 19 Fév 2021 Commentaire »

Gold price made a low at $1,760 today and is now trading at $1,780. Gold price is in bearish short-term trend according to the Ichimoku cloud indicator as price is below the 4 hour and Daily Kumo (cloud).

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Gold price in the 4 hour chart shows some signs of a potential bounce. Price has moved above the tenkan-sen (red line indicator) but is below the kijun-sen resistance (yellow line indicator) at $1,793. Important short-term trend resistance by the cloud is found at $1,818. The Chikou span (black line indicator) is below the candlestick pattern confirming the bearish trend we are in. If the kijun-sen resistance is broken then short-term traders should expect a bigger bounce towards $1,800-$1,815.The material has been provided by InstaForex Company - www.instaforex.com

USDJPY remains inside bullish channel

Trading 19 Fév 2021 Commentaire »

USDJPY after reaching our 106 target has made a reversal to 105.24. Despite this pull back price remains inside the bullish channel that continues to make higher highs and higher lows since January.

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Green lines - bullish channel

Channel support and lower boundary is found at 105. This could be used as stop for any potential long positions. Breaking below this level will increase chances of a break below the recent important low at 104.40. As long as price respects the boundaries of the channel, we should expect more upside to come.

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

*U.S. Existing Home Sales Climb 0.6% In January

Trading 19 Fév 2021 Commentaire »

U.S. Existing Home Sales Climb 0.6% In January


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

USD/CAD : le dollar américain continue de chuter

Trading 19 Fév 2021 Commentaire »
Le billet vert plonge, le dollar canadien se renforce

Eurozone Private Sector Continues To Contract In February

Trading 19 Fév 2021 Commentaire »

The euro area private sector continued to contract in February, as extended lockdown measures weighed on the service sector, flash survey results from IHS Markit showed on Friday.

The composite output index rose to 48.1 in February from 47.8 in January. The expected reading was 48.0.

The score has been below 50.0 for the fourth consecutive month suggesting contraction. The survey revealed that the service sector downturn was offset by faster manufacturing growth.

The services Purchasing Managers' Index fell to 44.7 from 45.4 a month ago. Economists had forecast a reading of 45.9.

On the other hand, the manufacturing PMI surged to a 36-month high of 57.7 from 54.8 in the previous month. This was above consensus forecast of 54.3.

Ongoing COVID-19 lockdown measures dealt a further blow to the eurozone's service sector in February, adding to the likelihood of GDP falling again in the first quarter, Chris Williamson, chief business economist at IHS Markit said.

The deterioration in output was driven by the service sector. In contrast, manufacturing output growth accelerated to the fastest since October.

Business expectations improved to the highest for nearly three years as companies looked ahead to vaccine roll-outs.

However, surging demand and constrained supply contributed to a further marked rise in prices during the month. Average prices paid for inputs by manufacturers rose at a rate not seen since 2011. At the same time, a more moderate rise in costs was seen in the service sector.

Overall average rates charged for both goods and services were unchanged in February. France's private sector shrank at a faster pace in February. The composite output index fell to a three-month low of 45.2 in February from 47.7 in January. Service providers posted another decline in activity, while manufacturers saw a moderate expansion. The services PMI dropped sharply to 43.6 from 47.3 in January. The score was forecast to fall marginally to 47.0.

The manufacturing PMI came in at 55.0 in February, up from 51.6 in January. The expected score was 51.4.

Meanwhile, Germany's private sector expanded further driven by the strong rebound in manufacturing despite increasing supply-side pressures.

The composite output index rose to 51.3 in February from 50.8 in January. Economists had forecast the score to fall to 50.5.

While Covid-19 lockdown measures continued to weigh on activity across large parts of the services economy, factories reported strong and accelerated growth due in part to surging export orders.

The manufacturing PMI surged to a 36-month high of 60.6 from 57.1 in January. The score was above economists' forecast of 56.5.

Meanwhile, the services PMI fell to a 9-month low of 45.9 from 46.7 in the previous month. This was below the expected 46.5.


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

Loonie Little Changed After Canada Retail Sales

Trading 19 Fév 2021 Commentaire »

Following the release of Canada retail sales for December at 8:30 am ET Friday, the loonie changed little against its major counterparts.

The loonie was trading at 1.2610 against the dollar, 83.57 against the yen, 1.5294 against the euro and 0.9908 against the aussie around 8:32 am ET.


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

*Canadian Retail Sales Plunge 3.4% In December

Trading 19 Fév 2021 Commentaire »

Canadian Retail Sales Plunge 3.4% In December


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