The prices gold and silver remained nearly unchanged yesterday and thus they have both continued their unclear trend from last week. Yesterday, President of Federal Bank of Philadelphia commented on the recent decision of the FOMC to launch QE3. He voiced his concern that this plan may not help rally the U.S economy. U.S consumer confidence rose in September by 9 points to reach 70.3. This news may have helped rally some commodities prices. On today's agenda: German 10 Year Bond Auction and U.S New Home Sales.
On Today's Agenda
U.S. New Home Sales: in the previous report, the sales of new homes rose to an annual rate of 372,000 – a 3.6% gain (month over month); if the number of home sales will continue to rise, it may further indicate a sign of some recovery in the U.S real estate market which may also affect the path of the US dollar;
German 10 Year Bond Auction: the German government will issue another bond auction; in the recent bond auction, which was held at the first week of September, the average rate reached 1.42%;
For further reading: