State of the market

• Pending home sales  (m/m) (July), fact-2.5%, forecast 0.1%.

U.S. real estate sales have slowed, indicating a slowdown in the US real estate market.

Fig. 1.Pending home sales chart in the US real estate market

General market dynamics remains upward on the growth of optimism and the positive dynamics of the background indexes in Europe. This provides support for risky and commodity currencies. Safe haven currencies were under the pressure: the Swiss franc and the Japanese yen.

The US dollar index also found a support on optimism and growth in the US government bonds yield, updating the high at 98.40, aided by previously published data on the United States. In the conditions of optimism, we can expect a test of the resistance level 98.50. Support are the marks: 98.20-10.

Fig. 2. The US dollar index chart. Current price – 98.40 (10-year US government bonds yield – blue line)

Read also: “Sanctions against Iran
their aggravation and impact on the world market”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. What does the US Fed Chairman Powell statement mean for the US dollar
2. ECB is preparing a stimulus package
3. The national currency exchange rate as an advantage in trade talks

Current Investment ideas:

1. Selling Alcoa shares makes a profit! Three reasons to connect now!
2. The trade war for Boeing: good or bad and how can we make money from it!