(Source: FXTrade InfoCenter)
Author and ex-Fed chair Alan Greenspan believes the US housing is on the verge of recovery despite the NAR reporting yesterday that seized properties and foreclosures continue to dominate sales (see below). If anything his comments provide ‘copy’ at least! Companies have entered the race of survival, the one to obtain funds. It’s important to be leading the pack as resources ‘could be limited’. Their actions will dilute future earnings, it’s no wonder analysts have been dragging their feet on earnings revisions!
The US$ is weaker in the O/N trading session. Currently it is lower against 15 of the 16 most actively traded currencies in a ‘volatile’ trading range.
Read the full article by Dean Popplewell “Greenspan Hawking Real Estate!” at OANDA FXTrade InfoCenter (May 13th, 2009).