Flash: US data provides evidence of recovery – Investec

FXstreet.com (New York) - According to Lee McDarby, Corporate Treasury at Investec, “Stronger US data yesterday provided further evidence of a continuing economic recovery with higher home prices and new home sales at a five-year high buoying consumer sentiment.”

In addition, overnight the dollar has strengthened to push gold prices to almost a three year low with the greenback being well brought against both the Euro and Sterling, despite this morning’s better than expected German Consumer Confidence number. “One pair bucking the trend is the USD/JPY where the pair has given back gains, after briefly breaking through the 98.00 level, which seems quite a ways from the 100.00 figure that is all but a distant memory.” McDarby adds.