Euro extends losses after upbeat U.S. data; U.S. stocks decline

Euro extends losses after upbeat U.S. data; U.S. stocks decline

22 July 2015, 16:36
News
0
918

On Wednesday the greenback strengthened further after fresh data signaled sales of existing homes in the U.S. climbed at the fastest pace since February 2007.

The National Association of Realtors reported that sales of existing homes in the U.S. rose 3.2% in June to 5.49 million units, the fastest pace since February 2007. Analysts had expected the data to show a 1.2% rise - to 5.40 million units.

Boosted by the news, the dollar rose to 124.06 yen, from 123.90 yen before the report.

EUR/USD lost 0.43% and was last at 1.0886 from 1.0910.

In the stock market, U.S. equities traded lower on Wednesday, pressured by a loss in Apple Inc. shares following disappointing results.

The tech giant's shares tumbled 5%, slashing about 4.2 points off the S&P 500.

The S&P 500 gave up 3 points, or 0.3%, to 2,112 with four of its 10 sectors trading lower.

The technology sector dropped 1.2%, as investors sold tech stocks following weaker-than-expected earnings results from Apple and Microsoft Corp.

Late Tuesday, Apple’s sales results for the current quarter missed expectations, while Microsoft posted its biggest quarterly loss ever on a write-down tied to its Nokia purchase.

The Nasdaq Composite lost 42 points, or 0.8%, to 5,158, extending losses from the record close set on Monday.

The Dow Jones Industrial Average dropped 46 points, or 0.3%, to 17,870.

Share it with friends: