The problem that the US has with consistent signs of recovery came through on Monday as two separate reports showing two totally different things were released.
While the manufacturing report showed a steady increase in US production, a clearly positive sign that indicates some semblance of growth, however any bounce that the Dollar took off of this was stifled by a housing report which showed that prices have now fallen – at least in November/December – to the lowest level in years.
The continued duality of this mythical recovery is affecting Forex traders and their ability to adequately trade in any of the USD related pairs. The issue here is misinformation, not necessarily by news organizations, but by the government agencies and private parties that comprise the “independent” review boards for various sectors.
Take the employment numbers for example; ADP which is the largest payroll processor in the US comes out with a report, usually on Wednesdays, that shows the total number of people that they processed payroll for each week. a
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