Market news – New home construction slips during the month of July

Home builders started fewer single-family houses during the month of  July as  new home construction remains at depressed levels. The Commerce Department reported Tuesday that builders began work on a seasonally adjusted 604,000 homes last month, a 1.5 percent decrease from June. That’s half the 1.2 million homes per year that economists say must be built to sustain a… read more

Market report – The U.S dollar is trading lower vs. other major currencies after S&P downgrades it AAA rating.

The U.S. Dollar continues to trade lower against most major currencies after Standard & Poor’s downgraded U.S. top credit rating from AAA to AA+ on Friday. The decision raised concerns over the fiscal issue of the world’s biggest economy. Although the Federal Reserve Open Market Committee is scheduled to meet tomorrow, traders didn’t wait and… read more