Tuesday, December 22, 2015

lower lows and lower highs

The straight decline from last week finally stopped at 200 level but what we can see from the chart is that we are consistently seeing lower lows and lower highs. Consistent with the data as the economy is slowing down:

The Existing Home Sales, released by the National Association of Realtors, provide an estimated value of housing market conditions. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD. Generally speaking, a high reading is positive for the Dollar, while a low reading is negative.

Previous Revised from -3.4%

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