The dollar is currently trading with mixed results against its major competitors Wednesday. The U.S. currency is holding onto gains against the Japanese Yen and the Euro, but is down against the British pound.
After reporting a sharp increase in U.S. existing home sales in the previous month, the National Association of Realtors released a report on Wednesday showing that existing home sales saw further upside in June to reach their highest level in over eight years.
NAR said existing home sales climbed 3.2 percent to an annual rate of 5.49 million in June from a downwardly revised 5.32 million in May. Economists had expected existing home sales to edge up to an annual rate of 5.40 million in June from the 5.35 million originally reported for the previous month.
Investors will be watching for the release of weekly jobless claims data on Thursday, as well as the leading economic indicator. New home sales are also expected to be announced on Friday.
The Greek parliament is preparing for another vote on the final bailout negotiations on Wednesday as Prime Minister Alexis Tsipras seeks to close the third bailout deal that will offer up to EUR 86 billion debt, after Greece repaid money due to the International Monetary Fund and the European Central Bank.
The Greek government expects the final bailout deal by August 20, which is the deadline for a EUR 3.6 billion debt due to the ECB ahead of the EUR 1.5 billion due to IMF in September.
The dollar slipped to an early low of $1.0966 against the Euro Wednesday, but has since climbed to around $1.0910.
French manufacturing confidence improved more-than-expected in July, after falling in the previous month, figures from the statistical office Insee showed Wednesday. The manufacturing confidence index rose to 102.0 in July from 100.0 in June. Economists had expected the index to increase to 101.0. In May, the reading was 103.0.
Policymakers of the Bank of England unanimously decided to keep the monetary policy unchanged at the meeting held early this month, but more rate-setters moved closer to vote for a rate hike.
The Monetary Policy Committee voted 9-0 to retain its key rate at a record low 0.50 percent and asset purchase programme at GBP 375 billion. For all members, the policy decision this month was clear cut, the minutes said.
“For a number of members, the balance of risks to medium-term inflation relative to the 2 percent target was becoming more skewed to the upside at the current level of Bank Rate,” the minutes said.
The buck dropped to a low of $1.5646 against the pound sterling Wednesday, but has since bounced back to around $1.56.
UK households’ finance outlook dropped to the lowest level in a year in July, results of a survey by Markit Economics and financial information provider Ipsos Mori revealed Wednesday.
The household finance index rose to 45.3 in July from 43.8 in the previous month. A score below 50 suggests pessimism regarding finances among the U.K. households. However, the latest score was slightly above the average recorded in the second quarter this year.
The greenback slipped to an early low of Y123.569 against the Japanese Yen Wednesday, but has since rebounded to around Y124.030.
Japan’s all industry activity declined at a slower-than-expected pace in May, after rising in the previous month, figures from the Ministry of Economy, Trade and Industry showed Wednesday. The all industry activity index fell 0.5 percent month-over-month in May, in contrast to April’s 0.1 percent slight increase. Economists had expected a 0.6 percent decrease for the month.
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