GBP/USD and EUR/USD

U.S. housing recovery losing steam, pending home sales fall again


http://s1.reutersmedia.net/resources...=CBRE98P14RW00


WASHINGTON | Thu Sep 26, 2013 10:40am EDT


(Reuters) - Contracts to purchase previously owned U.S. homes fell for the third straight month in August, a sign that rising mortgage rates are taking the steam out of the U.S. housing market recovery.

The National Association of Realtors said on Thursday its Pending Homes Sales Index, based on contracts signed last month, decreased 1.6 percent to 107.7. Economists polled by Reuters had forecast a -1.0 decline.

Mortgage rates are hovering near a two-year high and a drop in demand for existing homes is pushing potential home buyers out of the market and slowing the momentum in the recovery in real estate.

Contracts fell across most of the country, with gains only in the Northeast.

The U.S. housing market was battered by the 2007-09 recession but appeared to turn a corner early last year when home prices began to rise again.


(Reporting by Margaret Chadbourn; Editing by Krista Hughes)



http://www.reuters.com/article/2013/...98P0NH20130926

Pending Sales of Existing Homes in U.S. Decreased 1.6% in August

By Jeanna Smialek - 2013-09-26T14:00:00Z


http://www.bloomberg.com/image/ifog3ahYhagI.jpg

A "For Sale" sign hangs in front of a townhouse in the Carroll Gardens neighborhood of the Brooklyn borough of New York.


Fewer Americans signed contracts in August to buy previously owned homes, a sign that rising mortgage rates may have slowed housing market momentum.

The index of pending home sales fell 1.6 percent, after a revised 1.4 percent decrease in July that was bigger than initially reported, figures from the National Association of Realtors showed today in Washington. Economists forecast a 1 percent decline in the gauge from the month before, according to a median estimate in a Bloomberg survey.

Mortgage rates that hit their highest in August since July 2011 and a limited number of existing homes may have caused some prospective buyers to hold back, slowing the real estate recovery. Employment growth and gains in income could help buyers to afford houses, fueling the broader economy.



http://www.bloomberg.com/news/2013-0...in-august.html

Jobless Claims in U.S. Unexpectedly Decline to 305,000

By Victoria Stilwell & Shobhana Chandra - Sep 26, 2013 9:31 PM GMT+0700


http://www.bloomberg.com/image/i1pbpDlmKW0A.jpg

Employees assemble Motorola Solutions Inc. Moto X smartphones at the Flextronics International Ltd. factory in Fort Worth, Texas, on Sept. 10, 2013.



The number of Americans filing applications for unemployment benefits unexpectedly declined last week, showing further progress in the labor market.

Jobless claims decreased by 5,000 to 305,000 in the week ended Sept. 21, a Labor Department report showed today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for an increase to 325,000. The four-week average of initial filings fell to the lowest since June 2007.

Fewer dismissals may be a sign employers are optimistic about the demand outlook in the U.S. Further gains in employment and improved income growth will be necessary to spur bigger advances in consumer spending, which accounts for about 70 percent of the economy.

“The decline in claims is encouraging and suggests ongoing labor-market improvement,” said Gennadiy Goldberg, a strategist at TD Securities USA LLC in New York. “Employers are little bit more positive about the economic outlook.”



http://www.bloomberg.com/news/2013-0...last-week.html

Cable in H1 Chart...


NOTE :
AQUA Candle and PINK Candle in 'Background' = Daily Candle

Euro-Area Economic Confidence Rises as Recovery Takes Hold

By Corina Ruhe - Sep 27, 2013 4:40 PM GMT+0700


http://www.bloomberg.com/image/iDp9mMk3gmpo.jpg

Confidence in the retail sector increased to minus 7 from minus 10.6.


Economic confidence in the euro-area increased more than economists forecast in September, adding to signs the single-currency bloc’s recovery is gaining momentum.

An index of executive and consumer sentiment rose for a fifth month to 96.9 from a revised 95.3 in August, the European Commission in Brussels said today. That beat the median estimate of 96 in a Bloomberg survey of 26 economists.

Signs of resurgence in the euro-area economy since it returned to growth in the second quarter after an 18-month contraction have boosted equities, with the Stoxx Europe 600 Index up more than 4 percent in the last two months. Yet Europe continues to struggle with the legacy of the debt crisis now in its fourth year, including falling industrial production and a jobless rate at a record 12.1 percent.



http://www.bloomberg.com/news/2013-0...s-hold-1-.html

European Stocks Decline Ahead of U.S. Confidence Report

By Inyoung Hwang - 2013-09-27T09:36:34Z



European stocks declined before a report on U.S. consumer sentiment, amid concern that budget wrangling in Washington will lead to a government shutdown. U.S. index futures retreated, while Asian shares were little changed.

Vallourec (VK) SA plunged 9.5 percent after warning that slower drilling in Brazil and a weak real may hurt profit. Vestas Wind Systems A/S (VWS) surged to its highest price since June 2011 after Mitsubishi Heavy Industries Ltd. and the Danish turbine maker agreed to form a venture to develop offshore wind energy. SEB (SK) SA climbed 4.3 percent after Societe Generale SA lifted its rating on the shares.

The Stoxx Europe 600 Index slipped 0.4 percent to 311.93 at 10:29 a.m. in London. The gauge has lost 0.7 percent so far this week amid concern that U.S. politicians will fail to approve a federal budget for the new financial year. Standard & Poor’s 500 Index futures lost 0.4 percent, while the MSCI Asia Pacific Index gained 0.1 percent.



http://www.bloomberg.com/news/2013-0...fore-data.html

Shutdown Would Shave Fourth-Quarter U.S. Growth as Much as 1.4%

By Jeanna Smialek & Ian Katz - 2013-09-27T04:00:01Z


http://www.bloomberg.com/image/iRmYH1ya8E30.jpg

The combined prospect of a budget standoff between the White House and Congress and haggling over the debt ceiling could have a bigger impact on the economy as businesses hold off on investment and households delay spending.


A shutdown of the U.S. government would reduce fourth-quarter economic growth by as much as 1.4 percentage points depending on its length, economists say, as government workers from park rangers to telephone receptionists are furloughed.

Mark Zandi of Moody’s Analytics Inc. estimates a three-to-four week shutdown would cut growth by 1.4 points. Moody’s projects a 3 percent rate of growth in the fourth quarter without a closure. A two-week shutdown starting Oct. 1 could cut growth by 0.3 percentage point to an annualized 2.3 percent rate, according to St. Louis-based Macroeconomic Advisers LLC.

A shutdown would slow the expansion because output lost when workers are furloughed subtracts from gross domestic product. The combined prospect of a budget standoff between the White House and Congress and haggling over the debt ceiling could have a bigger impact on the economy as businesses hold off on investment and households delay spending.



http://www.bloomberg.com/news/2013-0...h-as-1-4-.html

Special Report:
Pimco shook hands with the Fed - and made a killing


http://s1.reutersmedia.net/resources...=CBRE98Q0RXN00


By Carrick Mollenkamp and Cezary Podkul

NEW YORK | Fri Sep 27, 2013 6:17am EDT


(Reuters) - Through the second half of 2011, debate raged in financial markets over whether the U.S. Federal Reserve would embark on a third round of massive bond purchases, known as "quantitative easing," to shore up an anemic economy. Pacific Investment Management Co wasn't waiting to find out.

The giant fund-management firm, led by co-founder Bill Gross, started buying tens of billions of dollars in mortgage-backed securities guaranteed by federally sponsored agencies like Fannie Mae and Freddie Mac. In the third quarter of 2011 alone, Pimco's flagship Total Return Fund, the world's largest mutual fund, doubled its holdings of these securities to $80 billion, according to a Reuters review of trading and other data.

While Pimco was building its hoard, the Fed, in a surprise move long before any word on quantitative easing, said it would start buying more of the same kind of debt, known in the trade as "agency MBS." The U.S. central bank would acquire as much as $30 billion of the securities a month by reinvesting proceeds from its earlier purchases. Prices rose.



http://www.reuters.com/article/2013/...98Q0E620130927

EUR in H4 Chart...


Price 1.3538 as Critical Point

Found Dark Cloud Signal in Daily Chart
Potential will BEARISH Trend later.


NOTE :
AQUA Candle and PINK Candle in 'Background' = Weekly Candle

Euro zone moving from economic to political crisis

Published: Sunday, 29 Sep 2013 | 7:30 AM ET

By: Michael Ivanovitch | President, MSI Global


http://fm.cnbc.com/applications/cnbc...g?v=1379578677



Washington's political stunts and Italy's government crises are nothing new. But what looks like a difficult search for a governing coalition in Germany, and,possibly, another round of parliamentary elections, could soon be a sight to behold.

Last Friday, the 250 delegates of the German Social Democratic Party (SPD -- with 25.7 percent of the popular vote in last elections) gave the mandate to their leadership to open exploratory coalition discussions with Chancellor Merkel 's Christian Democrats (CDU), who got 41.5 percent of the vote and were only 5 seats short of the absolute parliamentary majority.

Reflecting a deep cleavage between the SPD's base and its leadership, the negotiating mandate came with a tough rider.



http://www.cnbc.com/id/101071178

House Republicans defy Obama on funding bill; government shutdown nears

By Thomas Ferraro and Richard Cowan
WASHINGTON | Sun Sep 29, 2013 1:49am EDT


http://s1.reutersmedia.net/resources...=CBRE98S0E9C00


(Reuters) - The House of Representatives early on Sunday brought the federal government closer to a shutdown as it voted to delay President Barack Obama's landmark healthcare law for a year as part of an emergency spending bill.

By a mostly partisan vote of 231-192, the Republican-controlled House approved the "Obamacare" amendment, despite a veto threat from the White House.

It also voted 248-174 to repeal a medical device tax that aims to help fund healthcare programs under the 2010 law.

And in a sign that lawmakers might be resigned to a government shutdown beginning Tuesday, the House unanimously approved a bill to keep paying U.S. soldiers in the event the government runs out of money to run many programs.



http://www.reuters.com/article/2013/...98N11220130929

Gbpusd still bullish trend, but the price is at the top of the envelope! Possible price correction.

http://s2.ipicture.ru/uploads/20130929/wDI4S113.png

Yup. Agreed with you

Use Weekly Chart...
Keep watching Price 1.6367 as SUPPLY Area. Btw, in Price 1.6269 posible SLIP

EURO in Daily Chart...

Hi,

whats the indicator you used below?

Hi nfga,

That's Murrey Math and Regression indie.

Try it...


Best Regards,
Tsar

Obama, congressional leaders still deadlocked on shutdown

By Jeff Mason and Thomas Ferraro

WASHINGTON | Wed Oct 2, 2013 7:57pm EDT



(Reuters) - President Barack Obama met with Republican and Democratic leaders in Congress on Wednesday to try to break a deadlock that has shut down wide swaths of the federal government, but there was no breakthrough.

After more than an hour of talks, House of Representatives Speaker John Boehner said Obama refused to negotiate, while House Democratic Leader Nancy Pelosi and Senate Democratic Leader Harry Reid accused Republicans of trying to hold the president hostage over Obamacare.

Reid said Obama told Republicans "he will not stand" for their tactics.

As hundreds of thousands of federal employees faced a second day without pay, leaders of the Republican-controlled House of Representatives and the Democratic-led Senate offered token concessions that were quickly dismissed by the other side. Obama, meanwhile, scaled back a long-planned trip to Asia.



http://www.reuters.com/article/2013/...98N11220131002

Dollar pressured by U.S. politics, global stocks flatline

By Wayne Cole

SYDNEY | Wed Oct 2, 2013 8:37pm EDT


http://s1.reutersmedia.net/resources...=CBRE97M01B300



(Reuters) - The U.S. dollar stayed under pressure on Thursday while share markets flatlined as the U.S. government shutdown dragged on with no obvious end in sight, stirring unease about the country's economy and its debt ceiling.

With investors choosing discretion as the better part of valor, MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was barely changed, after a flat performance on Wednesday.

Japan's Nikkei .N225 slipped 0.5 percent, while Australian shares .AXJO added 0.2 percent.

A meeting between President Barack Obama and congressional leaders produced nothing but blame and counter-blame, dimming hopes of an early end to the impasse.

So far investors have been wagering that a deal would be reached in time to avoid lasting damage to the economy, although another fight over the debt ceiling still looms.




http://www.reuters.com/article/2013/...96S00E20131003

Obama to Wall Street: This time be worried

Published: Wednesday, 2 Oct 2013 | 9:38 PM ET

By: John Harwood | CNBC Chief Washington Correspondent


http://fm.cnbc.com/applications/cnbc...g?v=1380741418


Wall Street needs to be genuinely worried about what is going on in Washington, President Barack Obama told CNBC in a White House interview Wednesday.

While gridlock in D.C. is nothing new, "this time I think Wall Street should be concerned," Obama said.

"When you have a situation in which a faction is willing to default on U.S. obligations, then we are in trouble," Obama said.

U.S. stock-index futures pointed to a lower open on Wall Street Thursday. Click here to get the latest futures action.



http://www.cnbc.com/id/101081257

Asian Stocks Rise as Investors Watch U.S. Negotiations

By Yoshiaki Nohara - Oct 3, 2013 8:59 AM GMT+0700


http://www.bloomberg.com/image/ilLAezUiE5zE.jpg

Pedestrians walk past an electronic stock board outside a securities firm in Tokyo.



Asian stocks rose, led by material and energy shares, as investors watched for progress on ending a budget impasse that has shut down the U.S. government.

Iluka Resources Ltd. advanced 3.1 percent in Sydney as material shares gained the most among the 10 industry groups on the benchmark regional index. Leighton Holdings Ltd., an Australian developer, slumped 8.8 percent after saying it’s unaware of any new allegations or ethics breaches in a statement responding to newspaper reports.

The MSCI Asia Pacific Index added 0.4 percent to 139.22 as of 10:54 a.m. in Tokyo with nine of 10 groups rising. Hong Kong shares opened higher after a gauge of China’s services industry rose. The U.S. government has been in partial shutdown for two days after lawmakers failed to agree on a federal budget. President Barack Obama summoned the top four leaders of Congress to the White House for the first high-level talks on reopening the government and raising the debt ceiling.



http://www.bloomberg.com/news/2013-1...own-talks.html