Corporate foreign exchange news

US housing figures to impact forex traders?

Tuesday, 19 July 2011 09:04:23 GMT

Published by Mark Smith-Halvorsen
Forex dealers may be impacted by the latest indicators suggesting the US economy is struggling to make a recovery.
According to the median figure of research conducted by Bloomberg, during June the number of building permits issued is likely to have tumbled to 595,000, a 2.3 per cent fall and a sign that less projects may be planned in future.
BMO Capital Markets in Toronto's senior economist Jennifer Lee said: "The housing market is one of the weaker links in the economy."
Official figures are set to be released this morning (July 19th) by The Commerce Department, with prediction from experts of between 500,000 and 610,000.
Federal Reserve Bank of Atlanta president Dennis Lockhart recently told Fox Business that the US economy could be negatively impacted in the near future if the debt ceiling is not raised.
"The time has come to deal with this issue and get it behind us," he added.
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