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Daily FX Wrap For Tuesday June 26, 2007Overview The U.S. dollar traded mixed Monday following disappointing economic news, while the British pound briefly broke the $2 mark.
Economic reports in the U.S. showed that sales of existing homes fell in May to the lowest level in four years, while the median home price dropped for a record 10th consecutive month. The data, largely in line with expectations, had little sustained effect on currency markets.
Traders are looking ahead to several other doses of economic news from the U.S. this week, starting with the Conference Board's monthly Consumer Confidence Index later today. The durable goods orders report is due on Wednesday, followed by final first-quarter gross domestic product report on Thursday and May personal income and spending figures on Friday.
Data for Today US: Consumer Confidence For today Buy EUR/USD on a dip towards 1.3440, with stops below 1.3410 For more ideas please email: tradingdesk@pinnacleforex.com |
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