Thursday, December 5, 2013

Daily Currency Report Thu Dec - 5

Forex Market Update

This morning, the USD is trading mostly lower against the basket of major currencies, as profit booking prevailed among traders, after upbeat employment and housing market report in the US yesterday propelled the greenback higher. The ADP employment report indicated that more than expected jobs were created in the private sector in November. Additionally, the new home sales recorded their biggest increase in nearly 33-1/2 years in October, indicating that despite higher mortgage rates the house market recovery has not dampened. Additionally, the Federal Reserve's (Fed) Beige Book reported that the US economy grew at a modest to moderate pace from early October to mid-November. However, the ISM report revealed that the growth in the non-manufacturing sector slowed in November. - See more at:
Daily Currency Report Thu Dec - 5

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