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Yesterday, the greenback saw bullish trends against most of its major counterparts. The EUR\USD went as low as 1.5670, gaining additional 90 pips vs. the EUR. Accordingly, the USD gained against the rest of the major currencies. A large portion of data was delivered yesterday from the US markets. The National Home Price Index decreased by 14.4% to the 172.12 level concluding a 15 straight months of yearly declines. However, the New Home Sales report reflected a 3.3% increase, from 509K on March to 526K on April. The report also showed that the median price of new homes in April was $246,100, up 9.1% from March. Later on, the Consumer Confidence plunged to a 16-year low, after dropping to 57.2 reading point.

Today two major indicators are scheduled on the U.S. calendar. The most crucial is the Core Durable Goods Orders, which is expected to come in at -0.4%. The second indicator is the Durable Goods Orders that should mark -1.3%. Both indicators are forecasted to be lower than their previous printings. Later, Minneapolis Fed President Stern is expected to deliver a speech. Traders are advised to look closely for clues regarding future monetary policy. Given the fact that today’s U.S. fundamental data is expected to see a declining trend, the greenback may decline as well.

From where we stand, there might be a great day to check out the calendar for the rest of the week. Additional important indicators are scheduled to be published. The Prelim GDP , Fed Chairman Bernanke Speech, Chicago PMI, Personal Spending, Core PCE Price Index and many more. Analyzing them properly may contribute to investors’ possible profits.

Though the forthcoming indices are expected to establish a falling USD trend, the decreasing Oil prices might as well have a stronger affect on the greenback. Therefore, traders should follow today’s events with extra caution.

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