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US Open Preview – Dollar broadly weaker ahead of Powell’s testimony; Stoxx 600 hits 3-week high
February 26, 2018 1:26 pmVideo
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Here are the latest developments in global markets:
Day ahead: US new home sales and New Zealand trade data due
The economic calendar is light on Monday, with some data out of the US and New Zealand attracting attention.
US new home sales for the month of January will be made public at 1500 GMT. Sales are expected to increase by 3.2% after declining by 9.3% m/m in December, this constituting their largest drop in around 1½ years. It should be mentioned though that December’s fall was likely attributed to a fading out of the boost in sales from the replacement of flood-damaged houses in parts of the US hit by the hurricanes.
New Zealand trade data – on January’s imports and exports – are scheduled for release at 2145 GMT. Kiwi/dollar last traded 0.5% higher at 0.7325. It would be interesting to see if the figures lend additional support to the pair.
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