The dollar strengthened slightly after yesterday's surprise news that home sales in the secondary market rose by 10% in September, but let's face it: you should not rejoice too much to these data. It should be recalled that the sales of homes fell sharply in early summer, after the expiration of tax incentives for property buyers purchased ahead of all other purchases. In truth, housing seems to have stumbled on the rocky bottom, despite an increase in the availability and low cost loans, which should be encouraged to take decisive steps. U.S. dollar index has returned to the level above 77 this morning, largely due to some profit-taking, waiting for the euro longs. Vendors dollar may gravitate to the withdrawal of money from the table before the FOMC meeting next week.Indeed, the euro this morning at a point lower compared with the previous morning.
Euro revolved around the level of 1.40 this month, because it is possible that some consolidation will happen after such a strong movement. Data on German consumer confidence was slightly weaker, although, in general, the picture is still very positive.
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