Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

U.S. Dollar Shines After Upbeat Unemployment and Housing News

Currencies / US Dollar Apr 23, 2010 - 07:18 AM GMT

By: LiveCharts

Currencies

Two very positive reports on the economy Thursday (April 22) morning have helped strengthen the dollar against major currencies and commodities.  Home sales were relatively strongly during the month of March and last week’s new jobless claims fell by 24,000 from the week before, in line with analyst estimates.


On the “home” front, sales of existing homes climbed a strong 6.8 per cent to a seasonally adjusted 5.35 million in March.  This marked the best month for home sales since December and it ended a streak of three consecutive months of declines, according to the report from the National Association of Realtors.

Thanks largely to government inducements, some of which are set to expire soon, transactions were much more prevalent.  The median sales price was $170,700, which is similar to the same month one year ago.  Falling home prices have been a major concern as well, but some stability has been since of late.

Major federal tax credits for first time home buyers and others are set to expire in late April barring an extension from lawmakers.  While some believe the housing market is headed in the right direction, other top economists say time will tell whether the markets are strong enough to grow once the incentives for buyers disappear.

The decrease in the number of new jobless claims left a seasonally adjusted total of 456,000 according to the latest report from the Labor Department.  While in line, analyst reactions to the new job numbers were mixed.  Some see the decline in initial claims as a positive.  Others point out that the Easter holiday season makes adjustment calculations difficult and the overall pace of declines in initial claims is modest at best.

Following the two generally positive reports, the dollar was up to around 93.5 yen during New York trade Thursday.  The dollar was also stronger against the European currencies with one Euro now fetching only $1.3310 and a British Pound worth $1.5381.

Gold prices were at $1,141.60 with upward momentum stalled this week as growth in economic sentiment picks up.  Gold closed at $1,146.20 in New York on Wednesday, so it has seen a nearly $5 decline thus far Thursday.

Crude oil prices for June delivery were down by $1.05 at $82.63.  Prices have been buoyed by mostly positive earnings this week but economic concerns in Europe and the dollar’s strength have capped any gains.

Neil Kokemuller

LiveCharts.co.uk

Neil Kokemuller is an Associate Professor of Marketing at Des Moines Area Community College in Des Moines, Iowa, USA. He has a MBA from Iowa State University. He is also in house stock market commentator at Live Charts UK, where you can find real time charts and share prices .

Copyright © 2010 Live Charts

Please note: The information provided in this article is intended for informational and entertainment purposes, and not as advice for financial decisions or investments. Actions taken on the basis of the information shared is at the sole risk and discretion of the individual. Currency investment poses significant risk of loss.

Live Charts Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in