Dollar Hovered Against Rivals on Home Sales Growth

Daily Update - 24th April 2019

Yesterday’s Market

• USD Housing Price Index, New Home Sales

Yesterday’s Explained

New Home Sales resulted positive spiking support to the Dollar & additional economic activity around it. Similar to existing homes. Further political support on the currency did cause all the rivals to lose ground against the Dollar.

 

Today's Market

• EUR Economic Bulletin & IFO Business Climate
• CAD BOC Monetary Policy & Interest Rate Decision

Today’s Focus

On Wednesday, Two mid-tier reports from Europe and Canada are due to released. EUR Economic Bulletin and IFO business climate. It is expected to be the same, it will not affect the euro market much.

Corporate earnings will also influence through the day, though European corporates will need to really impress to support the EUR.

The Bank of Canada recently made a dovish tilt, following the lead of other central banks. Officials see a potential of growth without inflation. In addition, the fresh BOC Business Survey showed a deterioration in economic conditions.Bank of Canada is not expected to cut interest rates at this juncture, but Governor Stephen Poloz may provide further comments on the next policy moves in his press conference. The Ottawa-based institution also releases new forecasts.