Global macro overview for 25/05/2016
May 25, 2016 7:20 amVideo
Latest News
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
- Trading Signals for BITCOIN (BTC/USD) for April 18-20, 2024: buy above $62,500 or $63,037 (4/8 Murray – rebound) April 18, 2024
- GBP/USD. April 18th. Andrew Bailey did not clarify the situation on QE April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 18-20, 2024: buy above $2,375 (6/8 Murray – 21 SMA) April 18, 2024
- Technical Analysis – Netflix stock moves within narrow range ahead of earnings April 18, 2024
Global macro overview for 25/05/2016:
The US house market data has surprised market participants posting better than expected figures. Investors expected lower number of sold houses than a month ago ( 521k vs. 531k prior), but the nice number of 619k leaves no room for doubt, that the house market might be picking up this year. Moreover, last month house sales marked an 8-year high as well. In conclusion, growth in the housing market spurs more consumption, generating demand for goods, services and the employees who provide them. Following the excellent figures release, US GDP is due. The US economic growth might expand in Q1 and the previous GDP report might be revised higher as well.
This strong data is very good for the US dollar and slightly worse for commodities, in particular gold. So let’s take a look how the XAU/USD pair responded to the news release in the daily time frame. As we can see, the golden trend line has been violated and now the yellow metal bears should push the price lower towards the level of $1,208 first and then $1,191. We will wait and see how the price will react to one of these levels before drawing any conclusions.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: