Weekly Fundamental Outlook
American Session

For progressing weekly session of foreign currency exchange, both the US and Canadian dollars are projected of minor gains against most of their major counterparts as optimistic figures are assumed in their economic indicators. Last week in the foreign exchange, the US dollar saw negative results in its trading as two major impact indicators showed worse-than-expected results in the releases last week, which affected their currency valuation. The release of the US New Home Sales showed a worse-than-expected figure of 250 thousands as compared to its prior reading of 301 thousands; this negative figure shows signs of contraction in the US housing market. Likewise, the Core Durable Goods Orders report demonstrated pessimistic results in its figure as low growth was seen ending its consensus by -0.6 percent, slowing down the US dollar in the process. However, the US Unemployment Claims saw a sharp rise in its reading ending its consensus by 382 Thousand lower than its prior figure of 387 thousands. This means that more jobs were created for the previous week as compared to the week prior. Continue reading →