Corporate foreign exchange news

Foreign currency dealers await US spending data

Monday, 21 December 2009 09:12:39 GMT

Published by Jamie Jemmeson
Foreign exchange markets are anticipating stronger home sales and spending figures for November, a Bloomberg poll has revealed.
Ahead of the publication of the latest figures, the news agency surveyed 60 leading economists and revealed median expectations of 0.7 per cent growth in house purchases and a 0.5 per cent rise in incomes, which would be the largest jump seen since May.
The official income and house sales figures will be made available tomorrow (December 22nd) alongside a raft of additional economic data of varying importance to foreign exchange markets.
A University of Michigan business confidence poll has a high impact potential, as do the latest annualised US gross domestic product figures, which are also due out on Tuesday.
It will also be an important day for foreign exchange trading in sterling, as national gross domestic product and current account figures are also due to be published tomorrow morning.
Daily FX anticipates a 0.1 per cent contraction in gross domestic product for the third quarter, following a 0.3 per cent contract in the second quarter.
For more information on foreign exchange treasury services and risk management, visit our Corporate FX siteADNFCR-2522-ID-19522179-ADNFCR
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