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120 yen touched

LONDON (Thomson Financial) - The dollar rose on the news that the median price for an existing home in the US rose in June, the first year-on-year rise for nearly a year.

The existing home price in June increased 0.3 pct from June 2006 to 230,100 usd, the first annual rise for 11 months.

This supported the dollar despite the news that the number of existing home sales fell 3.8 pct in June to a 5.75 mln unit annual pace, much lower than the expected 5.85 mln units. That puts June existing home sales at the lowest pace since November 2002, when the annual pace was 5.73 mln units.

'The sales figures were weak but the market is more focused on house prices rather than turnover figures, so this is proving supportive to the dollar,' said Hans Redeker, head of forex strategy at BNP Paribas.

At 3.12 pm the euro was trading at 1.3717 usd having been at 1.3727 before the data was released, while the pound was at 2.0523 usd, having been at 2.0538 beforehand.

Hi guys - I'm not really with it yet :S

Ladies and Gentlemen: a glance at the Economic Data Release Calendar shows that have resolved my image scaling problems (if not my image problems ;-). Next week's calendar may be a trifle late in appearing over the weekend as I will be in transit betwixt Blighty and California on Friday and there ain't no Internet in the Sky (yet).

And sales of the Fx specs have plummeted....

I'm away now for a couple of weeks and I have small a cable position open with quite a wide stop. And I ain't gonna tell you which way it is. I'll keep an eye on it from a distance.

not much point posting it then....SC


Short cable here....was looking dicey earlier...but getting a nice shine to it now

out of Cable before that rally.....

Small long usd / Yen now...


Nice to be in the quiet backwaters of FX trading...smoother moves overall compared to that index monster..!

DailyFx seem to have changed the Calendar format this week -- in particular, they seem to have abandoned the downloadable Excel spreaddsheet from which we used to produce our header calendar. Needs a bit of thought . . . sorry, everybody.

On edit: To keep the show on the road until we decide on a better solution, I've placed a link to the new DailyFx Global Economic Calendar just below the charts in the header.

Bloody Hell, MM!!!!

Why is it that whenever I go on holiday you break the poxy header?????

:o)

Sorted now with a new fangled real time interactive calendar via the magic of inline frames.

PS. I've filtered the calendar to remove the Aussie and Kiwi news because anyone on the proper side of the world with any self respect is asleep when it's released and doesn't give a toss about it anyway. It also saves a fair bit of space.

There are also a number of clickable links within the calendar that are pretty damn useful.

Blimey, that's posh :)

Hil: Sorry Miss, I tried Miss, but I'm in Palo Alto and didn't have time to sort it out today 'cos I had to go to the beach at Santa Cruz ;-))

But it looks very good, nicely done.

Thanks h and mm for all the bits you do. Pleased to see choc back, hope alls ok. And hope everyone managed to escape worst of the flooding.

Popped back for sons graduation at loughborough on the 20th and got caught on the M5 friday evening, luckily we pulled of at the worcester junction. Had acouple hours kip then headed back up M5 and made our way to the M4 and got back to devon that way, took us 15 hours to get back in the end! Looks like the cricketers could do with the rain!

Made some decent long points these last couple of days - makes up for some crap trading last week - overall just better than breakeven.

And you ask yourself, in these markets, it should be relatively straightforward. But then, if it was that easy everyone would be a winner :))

If you are lurking choccie - hope your feeling a bit better.

Thanks gofe and meggers :)
Still loafing, marooned and morphed :S

Glad to see you're keeping your hand in, meggers ;)

choccie
That sounds like a great name for a bar in Wilmslow - get it trademarked - you'll be swamped with footballer's wives wanting some at a massive mark-uo.

Take it easy - I am :)

Have you been poorly, Chocopops? Every thread I read seems to say welcome back or get well soon. I must have missed something. Anyway, hope you're better now.

I'm not so sure that I like the new calendar - it seems quite unwieldy, imo. It's the best we've got though I'm afraid. I'll be away again from later this week. I may be around w/c 13th August, otherwise not back till early September. Delboy will need to adjust the URL of the inline frame in the header. The weekly calendar appears to start from a Sunday, and I'm guessing that the URL of next week's calendar will be:

http://www.dailyfx.com/calendar/index-print.html?currentWeek=/events-calendar/2007/0805/&direction=none&collector=allInFolderDateDesc&view=week&timezone=GMT&currencyFilter=AUD|NZD|&importanceFilter=|

Unfortunately I can't be sure that will actually be the case.

yen is tanking on that American homes news...

dumping

SM,

I'm not sure that I understand what you're saying there. Surely the Yen has been gaining steadily since yesterday afternoon (125 pips vs USD, 250 pips vs EUR, 375 pips vs GBP). It's nothing to do with a flakey mortgage lender going t!ts up.

It's carry trade liquidation - plain and simple. If the world, his wife and their pet poodle are all short the Yen, there comes a point in time that there's nobody left to short it. That's when it rises, shafting all the mug punters along the way. That's what happening now.