Monday is a hard day, because you overcome yourself and make senseless attempts to enter the working mode at least half a day. So it is not surprising that the single European currency did not give at least hints of signs of life yesterday. But still, data on sales of new homes in the United States were published in the evening. However, they were published so late that European traders are already tired of hard work and were already rushing home by that time.
However, if the single European currency did not show signs of life at all, then the pound tried to perform a labor feat as soon as it saw data on approved mortgage loans. Not only that, their number was 46.8 thousand instead of 42.5 thousand, but also the previous data was revised up, from 43.7 thousand to 44.1 thousand. As a result, approved mortgage loans were 4.7 thousand more than predicted. Then immediately, everyone remembered that the real estate market is almost the largest part of the UK economy and the main criterion for determining the investment attractiveness of foggy Albion. But after the weekend, there were not so many forces, so the pound was completely exhausted and returned back pretty soon. On the other hand, investors, encouraged by such positive data, suddenly remembered that good real estate market data are expected in the United States. Thus, they reasoned that they got a little excited. Nevertheless, Monday is a difficult day, and in the heat of the moment, you can make the devil know what.
Mortgages Approved (UK):
However, by virtue of Monday, many left work earlier than expected and did not see that sales of new homes in the United States did not increase by 0.8%, but declined by 0.4%. To be completely meticulous, sales decreased from 697 thousand to 694 thousand. Moreover, the previous results were revised downward, from 719 thousand. But it was already late by Monday's standards, and nobody was worried.
New Home Sales (United States):
Today will be incredibly difficult for European traders, since they will have to sit all day almost until the evening to wait for American statistics. At the same time, data on housing prices in the United States can fully compensate for yesterday's data on sales of new homes, as their growth rate should accelerate from 2.2% to 2.6%. So let them buy a little less, since the main thing is more expensive But even before that, data will be published on orders for durable goods, which may increase by 0.6%. This means that there is a possibility that the decline in industry will soon end and its growth will resume. However, today is not Monday, and traders have finally entered the combat mode, which means that the head is also thinking. In addition, the data stored there suggests that a couple of meetings of the boards of central banks will take place in the coming days. First, the Federal Reserve, and then the Bank of England. And given the current uncertainty, at least with regard to traditional English tea parties, no one will run ahead of the engine.
Durable Goods Orders (United States):
The euro / dollar currency pair, showing a stable downward interest, managed to get closer to the psychological level of 1.1000, where there was a slowdown due to strong pressure. It is likely to assume that the characteristic slowdown will be expressed in variable boundaries of 1.0990 / 1.1040, regarding which it is worth working on the breakdown.
The pound / dollar currency pair resumed its downward movement after a local correction, breaking through the minimum of the past day. Thus, it is likely to assume that the quote is directed towards the psychological level of 1.3000, where a stop should already be expected near it.