Both NY and UK Sessions: Chief Trader Armando Martinez announces that there are some news coming out of Europe and the UK, but not news we can rely consistently. We will look tomorrow at 10 AM for Existing Home Sales for a deviation of 400K, so the expected number is 4.11 million, while the previous number was 3.38 Million. So if the numbers comes up positive, let’s say 4.5 Million, then we could expect a market that would respond positively to that. We may see the Yen continue to be sold off, and perhaps this provides an opportunity of yen trade, maybe EUR/JPY, or USD/JPY if it gives us an opportunity for a retracement. On the other hand, if the expected numbers comes out lower, like 3.7, then we would look yen to be bought, and the USD lose some strength.
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Filed under: Forex News
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