Is The EUR/USD now Approaching a Possible Turning Point?
After a lackluster session, the major U.S stock indices yesterday’s trading day in negative territory. Even though Monday’s impressive session had a positive effect on the start of yesterday’s trading day, economic data showed a mixed picture, putting a halt on the rally. The S&P500 finished the day with a mild loss of -0.22%, while the Nasdaq dropped by 0.31%
Economic data has an impact on the session, sending mixed signals. On one hand, the S&P/CS Home Price Indices Composite, showed that the housing sector in the U.S is slowly improving, as it came out at -13.50%, compared to a consensus -14.50%. On the other hand, CB consumer confidence showed a disappointing result, coming out below expectations, at 53.1.
The major mover of the day was CIT Group Inc, increasing by 31.74%. The move came as news headlines reported that the company is planning a unique plan that would eliminate more than 40% of its debt. According to Reuters, the plan will offer bondholders new debt secured by CIT assets, preventing their investments from getting wiped out.
The stock jumped throughout the session, on high volume, breaking resistance of $1.86.
After a lackluster session, the major U.S stock indices yesterday’s trading day in negative territory. Even though Monday’s impressive session had a positive effect on the start of yesterday’s trading day, economic data showed a mixed picture, putting a halt on the rally. The S&P500 finished the day with a mild loss of -0.22%, while the Nasdaq dropped by 0.31%
Economic data has an impact on the session, sending mixed signals. On one hand, the S&P/CS Home Price Indices Composite, showed that the housing sector in the U.S is slowly improving, as it came out at -13.50%, compared to a consensus -14.50%. On the other hand, CB consumer confidence showed a disappointing result, coming out below expectations, at 53.1.
The major mover of the day was CIT Group Inc, increasing by 31.74%. The move came as news headlines reported that the company is planning a unique plan that would eliminate more than 40% of its debt. According to Reuters, the plan will offer bondholders new debt secured by CIT assets, preventing their investments from getting wiped out.
The stock jumped throughout the session, on high volume, breaking resistance of $1.86.
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