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The Nationwide data on housing prices in the UK turned out to be worse than forecasts, and the rate of their growth slowed from 2.9% to 2.1%. But, despite the fact that the state of the real estate market is an important factor in determining the investment appeal of the British economy, the pound continues to rise. Apparently, the slowdown in housing prices is not enough to change the mood in the market after Janet Yellen's speech on Friday.
Today, S&P/Case-Shiller also publishes US housing prices, whose growth rates should remain at the same level of 5.7%. Given the mood of investors, it will not impress them much, and the dollar will continue to lose its positions. Only a rise in prices can help the dollar a little.
Today we can see the attempt of the euro/dollar pair to overcome the psychological level of 1.2000 with reaching 1.2030/1.2050, where, perhaps, we will face excessive overbuying and, as a matter of fact, the appearance of attractive short positions.
The pound/dollar currency pair, without reducing the bullish interest, continues the upward movement, where, probably, the quotation will try again to get closer to the level of 1,3000, forming a stagnation near it.
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