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Dollar Gains on Better Orders, Housing, Consumer Confidence

July 25, 2008 by

The  U. S. dollar rose against the euro after the important statistics came out in U.S. today. Although the daily gain is almost absent, EUR/USD went significantly down from its daily maximum at 1.5753 after the news releases and is now trading near 1.5683 level.

Durable goods orders rose unexpectedly in June — they gained 0.6% after 0% change in May and negative (-0.3%) forecast for the last month.

Michigan sentiment index, which measures the consumers confidence, rose significantly in July — from 56.4 to 61.2. It was expected to remain at 56.4 level this month.

New home sales declined 0.6% in June compared to May’s 533k (annual rate), but the May value was revised up from 512k, so the current 530k is actually a good surprise for the market participants.

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