JPY Trading Outlook (28-05-2014)
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Foreign Exchange |
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US Dollar was firm against most of its major counterparts on Tuesday. On the US economic data front, durables good orders rose 0.8% MoM (-0.7% expected) in April after an upwardly revised 3.6% gain the previous month. FHFA House Price index increased 0.7% MoM (+0.5% expected) in March while the Conference Board consumer confidence index jumped to 83.0 as expected in May from 81.7 the previous month. Finally, Richmond Fed manufacturing index was unchanged at 7 (8 expected) in May while Dallas Fed manufacturing activity dropped to 8.0 (9.5 expected) from 11.7 the prior month. The Australian Dollar pared most of its earlier gains against its major counterparts. |
