Friday’s trade saw USD/JPY within the range of 118.80-119.64. The pair closed at 119.50, gaining 0.56% on a daily basis and 0.59% for the whole week.
Existing Home Sales
The index of existing home sales in the United States probably gained 0.8% to a level of 5.25 million in November compared to a month ago. In October compared to September existing home sales rose 1.5% to 5.26 million, or the highest level since September 2013. The sample of data encompasses condos, co-ops and single-family houses.
BlackBerry reported that revenue in the third fiscal quarter failed to reach analysts’ forecasts due to a steep drop in smartphone sales, signaling the company’s difficulties to gain traction.
Revenue declined by 34% to $793 million in the three months ended on November 29th, falling short of analysts’ projections for revenue of $931 million. Chief Executive Officer Mr. John Chen said that quarterly sales were “not satisfying” and that he needs another couple of quarters for them to pick up. “Sustainable profitability can only come from revenue growth,” he said.
Friday’s trade saw EUR/USD within the range of 1.2382-1.2487. The pair closed at 1.2462, gaining 0.41% on a daily basis and 1.43% for the whole week.
New York Empire States Manufacturing data
The New York Empire State Manufacturing Index probably improved to a reading of 12.00 in December, according to the median forecast by experts, from 10.16 in the prior month. If so, this would be the highest index reading since September, when the indicator was reported at 27.54.
The index is based on the monthly Empire State Manufacturing Survey, which is conducted by the Federal Reserve Bank of New York. About 200 top manufacturing executives respond to a questionnaire, sent out during the first day of the month. They provide their estimates in regard to the performance of several business indicators from the prior month, while also forecasting performance during the upcoming six months.
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