Here is a market update for all you traders out there. The calendar for the upcoming morning U.S. session promises more volatility for the Dollar with many top-tier and mid-tier U.S. data on tap.
At 10:00 am ET: U.S. existing home sales (5.23M expected, 5.19M previous), Philadelphia Fed manufacturing survey (8.0 expected, 7.5 previous), U.S. CB leading indicators m/m (0.3% expected, 0.2% previous), U.S. Flash consumer sentiment (-4.8 expected, -4.6 previous).
The most likely market movers are likely to come from either the existing home sales and the Philadelphia Fed manufacturing survey data. The former is usually seen as a leading indicator for the housing market while the latter is a survey of about 250 manufacturers within the district of the Philadelphia Federal Reserve with regard to the overall business and economic conditions. Both are expected to show improvements, so watch out if the actual data fails to meet or exceeds expectations.
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