Take Trading to a New Level.

Forex, abbreviation for foreign exchange market has got the potential that can facilitate you to bring in huge profits. This is the main reason behind many people investing their hard earned money in the Forex market. To become a good Forex trader you need to have a trading platform. With the growing technology, various software makers have come up with Forex robots that are automated Forex trading platforms. These trading robots trade automatically for the Forex trader and they make your, buying and selling of currency much easier as well as they allows the trader to trade automatically even if you are miles away from your, trading desk.
Forex trading robots are supported by an extensive range of trading tools that endow you with a few techniques that can be incorporated in the trading kit of the trader. While there is a little problem faced by the traders using the traditional platforms, Forex robots bring hearty latent that alleviates the trading pressure of the traders.
For the trader there are lot of jobs to be performed such as keeping an eye on the market, evaluating the movements of the market, reading the indicators and signals and finally placing the orders to the broker to continue the trade. However, with the help of the trading robots the trader can just settle down for the reason that all the jobs of the trader are being done by the robot.

What Are Forex Robots

Forex market is a highly competitive market whereby buying and selling of foreign currency takes place. Thus, in this extremely competitive market, its not only traders or investors who want to grow but also the brokers wish to offer their services to the maximum investors and the traders.With an intention of attracting more and more clients, these brokers offer various trading platforms to the traders that provide several trading facilities. Forexbots or Forex robots are the programs that are being designed for the trader to carry on his trade in the market by using the data and the arithmetical representations thus; it evaluates each and every move in the trade and gives the trader a profit making deal.

Work Wonders in the Forex Market

If you are beginner in the forex market and dream of making handsome results, it is very important to go for the forex robots. They will help you a lot in the forex market if you are not aware of the facts of the forex market.
These forex robots are the automatic trading platforms which perform the trading moves in the forex market. These platforms are programmed by the developers and they know the good and the bad time for trading. So if you are new to the market and don't have much knowledge to find out the right trading opportunity to trade they will certainly work wonders for you and you can make good profits. It is also beneficial in those conditions when you are not present for trading and very good opportunity falls your way. These robots will take the advantage of the change in the market and will take the trading decision on their own thus protecting you from eventually loosing the profit move.
Forex market is a 24 hour market thus anything can happen anytime but you cannot be there to watch the market position all the time and, hence in your absence you risk losing those important moves of your forex trading. This problem is greatly resolved by these automated trading platforms and, hence proved a wonder in the world of forex for both the beginners as well as the experienced traders so that they can earn well and can pay attention to other priorities as well at the same time.

Making Trading Easy

Seeing the popularity and potential of forex market, several software developing companies have entered the arena to make automated trading platforms. Basics requirements that a trader need to satisfy for entering forex trades is a trading platform and of course a forex trading account. Forex trading platforms are used to gaining access to your account and place the orders of trades to your forex broker. However, these platforms were not automated but now hi-tech trading platforms are available in the markets. Such automated platforms for currency trading are called as forex robots.
A forex robot can trade automatically without making any error throughout the day. Another advantage that makes trading with a robot very interesting is that it is based mathematical models and therefore is able to judge the beneficial trades in advance and enter and win it. Such software is designed in such a way that could control your, trading. Just turn on trading on this robot and relax. This software could enter and exit trades automatically thereby eliminating your job to keep a watch over market updates, trends, forex charts, signals, indicators and a lot more.

Revamping Currency Trading

Forex market has, time and again proved itself as a superior means of earning good income. This trading market is the biggest financial market in terms of liquidity. On an average, each day, forex market gathers about three trillion dollars trade, which is much bigger than other financial market. Due to this wide popularity of this market among investors, more and more service providers and software developers have entered the market and have made several developments. One such development in forex market is the availability of software that has transformed the way trading was done earlier.
Forex trading is done online and market remains open for 24 hours a day. However, it is physically not possible for a trader to keep on trading for the whole day and this is why they were missing a lot of potential trading opportunities. However, software like Forex robot has completely eliminated this problem. With a forex robot, traders could trade currencies round the clock without any hassles.
Forex robots are automated trading platforms that could trade automatically on behalf of trader. So, now, whether it's nighttime or daytime, a trader would never miss a trade opportunity. Even, he is not required to sit on his trading table. He just has to turn on his forex robot and he could enter forex trades and do nothing else.
Such platforms are based on mathematical models and therefore could assess potential of any upcoming opportunity. Since it is a computer program human errors will never arise. And emotions, that are considered the biggest enemy of a forex trader, shall never affect his/her trading.

New forex trading platform launched

MUSCAT -- With an average volume that ranges between $800 billion to $1.5 trillion per day, the forex market holds as much potential for large scale traders such as central banks and commercial companies as as it does for individual investors, an industry expert said.

"Our goal is to give investors in the region a convenient way by which they can engage in forex trade and benefit from the wide gamut of advantages and opportunities the market offers, especially during this financial downturn," Amani Choudhry, CEO, Mayfair Wealth Management, said in a statement.

Mayfair Wealth Management (MWM), one of the leading financial and investment advisory services providers based in the Cayman Islands, has launched its foreign exchange (Forex) trading platform. For a minimum investment of $25,000 an individual can invest in the largest and most liquid financial markets in the world, which has not been affected by the ongoing crisis.

"The global economic slowdown has significantly affected global investments, with a majority of individuals and corporations putting their investment plans on hold. While investments in other financial markets are witnessing a steady decline, we are advising investors to place stake in Forex due to high liquidity and trading volume, in addition to price volatility in this market," Choudhry said.

In addition, the company is also set to conduct free training sessions on the alternative investment avenue to educate traders on how to open a real live account as well as buy and sell on 'Forex' professionally and confidently.

"By using our newly-launched Forex trading platform and availing of our free training sessions, investors can get a better understanding of the forex world, what their trader is doing on a day to day basis with their money or learn to trade themselves," she added.

The unveiling of the new financial trading platform, which will also be offered via 'Ameerah', the first truly bespoke wealth management service targeting female investors in the Middle East, is in line with the company's aims to provide an asset class that will allow investors to stop trading and 'cash in' at any given time.

The training will include lectures on the origins and evolution of 'Forex', where and how brokers execute orders for clients, how to use the platform and start trading, and the advantages of 'Forex' over other investment instruments.

Classes on the currencies quotation system, trading margins, main currency markets, and trading strategies will be provided as well.

Furthermore, classes for lady investors will also be made available through Ameerah.

Offering online currency trading and phone dealing from Sunday to Friday using a proprietary trading software that guarantees competitive pricing and execution, MWM's 'Forex' trading platform offers low spreads interest point. The software offers four online trading platforms for maximum flexibility, and allows instant access from the investor's home, office or anywhere with an Internet connection.

Company officials also revealed their optimism that the seminars which are set to take place in Dubai, Abu Dhabi, Sharjah and Bahrain will generate good response from investors, and that they are open to offering training to other markets as the demand arises.

MWM was created to meet the investment needs of high net worth individuals around the world and provides investment advice on products, appropriate investment vehicles and investment strategies.

Forex marketing has a strategy that many traders overlook.

Forex marketing has a strategy that many traders overlook. The prime strategy, which many forex traders believe is the key to profiting in the forex industry is the buying low and selling high strategy. Unfortunately, these traders are wrong, since it is a key to loosing instead.

Support in forex industry is when chronological value or pricing comes in from traders who “Buy.”

The mission behind buying is to provide support for the forex market exchange, as well as to analyze, examine, experiment, investigate, etc, the markets in forex currencies and exchange. Each time the traders test forex, it authenticates support.

Resistance becomes sizeable in the forex industry only when the levels of “resistance” is charted, i.e. at what time the levels of forex value, or pricing refuses to give in to jumping to a higher listing.

For this reason, at what time forex traders venture on buying low and selling high, they are making a big mistake. Traders who delay in forex trading markets will often recoil, or retract at the time some of the biggest deals transpire in the forex industry.

In short, the trends are what traders want to stay aware to, yet most traders will resist. Why, because the traders often feel uneasy at the times when other traders resisting buying and selling in forex.

Now, if you want to get ahead in forex trading and use strategies to win, I recommend you to visit Forex Success Tips. There you will discover some magic to beat the forex.

Forex Signal

Whether you are a beginner or a seasoned trader, we have a service to fit your needs. Do you have a hard time understanding when to get in the market, or is your exit points that need help? There are hundreds of forex signals services on the market, but most are not worth a dime. We only work with the best. We screen them with the strictest parameters - ensuring their performance is real.

These signal providers may send signals by e-mail, voice, cell phone, or a live trading room. We will provide you with a list of the best Forex services available to best suit your trading needs.
Some traders prefer an auto trade type of system which does the trading for you, like FX-System Center, an excellent way to go. We work with a number of providers of auto-trade services which include state of the art software that will execute trades in the Forex market for you. You can learn to trade many different styles throughout the trading day. You can join live chat sessions with live calls in voice chat rooms with professional traders and learn how to trade the Forex market yourself. The options are all available, and now you know where to look.
Forex Brokers
Finding the right Forex Broker may be the difference in coming out ahead in the long run. FX brokers are your sole connection in this huge market and you have to put a lot of faith in them. We provide you with the top forex brokers and broker reviews to help you decide during this selection process.

Forex Rebates
What are Forex Rebates? FX Rebates are a payout for the volume of trading you run through your Forex Broker. These rebates can add up to a significant amount capital if you are trading in the Forex Market. If you are going to trade, you might as well get paid to trade. You are going to pay a spread or commission either way you look at it, so it only makes sense to earn Forex Rebates as you continue your trading.

Forex news trader

Forex News Trader was developed to give traders the edge they need to learn how to trade based on economic news events from around the world. The same edge the institutions use to make hundreds of millions and even billions of dollars in profit each year.

Forex News Trading will provide you with the information you need to give you a true insider’s understanding of the Forex markets. You will feel confident in your trading, and never doubt your trades again.

Does this mean you will win every trade? No, of course not, but armed with the knowledge Forex News Trader will provide you, you will never be afraid to take that next trade - as the odds will now be tipped in your favor.

Each and every month there are a tremendous number of news releases for the Off Exchange Retail Foreign Currency Market (FOREX). Many of these events and announcements move the markets considerably. But how do you properly capitalize on these moves? Get it wrong and you could be wiped out. Get it right and you can be in a small group of trading elite, consistently pulling pips out of the market each and every week.

USD/JPY Daily Commentary for 5.4.09

The USD/JPY is trying to build on Friday’s bounce, flirting with the idea of retesting 100 while the S&P futures battle their own demons at 900. Unfortunately, yesterday’s run was backed by light volume, meaning the currency pair’s current upswing could be short-lived. The USD/JPY encounters its first test in our 3rd tier downtrend line, followed by March highs. We notice a head and shoulders formation with the USD/JPY on its right shoulder as we type. Therefore, bulls will be looking for any near-term upward movement to be supported by heavy volume if the currency pair is ready to surpass 100 and April highs.
While the upside has its apparent hurdles, the downside is backed by our 2nd tier uptrend line and the resilience the uptrend has shown thus far in 2009. The USD/JPY’s re-approach of 100 comes with the S&P futures attempting to climb above their critical 900 level. Therefore, the significance of the moment is relayed by each as investors await Thursday’s ECB meeting and the release of America’s stress test results.
Fundamentally, we find resistances of 99.79, 100.56, 101.43, 102.14, and 103.15. To the downside, we see supports of 99.20, 98.56, 97.98, 97.11, and 96.33. The 100 level serves as a key psychological barrier with 95 acting as a psychological cushion. The USD/JPY is currently exchanging at 99.42.

Trade Idea: USD/JPY - Sell At 95.50

Despite rising to 95.90 last week, the subsequent sharp retreat from there on Friday suggests a top has been formed there and correction to 94.01 support is likely, however, the greenback should find renewed buying interest above 93.81 (50% Fibonacci retracement of 91.73 to 95.89) and bring a rebound later but said resistance should continue to hold and bring another decline.

In view of this, we are still trading both sides of the market, buy on further fall towards 94.01 or sell on recovery to 95.40. Only a clear break of 96.15/20 (the confluence of 100% projection of 91.73 to 94.80 measuring from 93.09 and 61.8% Fibonacci retracement of 101.45 to 91.73 at 96.16) would extend recent upmove to 96.60/70. Below 93.81 would indicate the rise from 91.73 is over, then decline towards 93.09 support would follow.

Trade Idea: GBP/USD - Buy At 1.6665

Recent upmove gathered momentum after breaking 1.6587 resistance last Friday and the British pound rose to as high as 1.6780 this morning before easing. Friday’s rally caused the Tenkan-Sen to cross above the Kijun-Sen, providing a buy signal and although pullback to 1.6665/70 cannot be ruled out, the Tenkan-Sen (now at 1.6626) should hold and bring another upmove later towards 1.6830/40 but price should falter well below 1.6915 (100% projection of 1.5983-1.6587 measuring from 1.6338)

In view of this, we are still looking to buy cable on pullback and only a clear break below 1.6627 (50% Fibonacci retracement of 1.6474 to 1.6780) would defer this bullishness and risk correction towards the Kijun-Sen (now at 1.6559) which is likely to hold from here.

BSE Picks Up 15% in United Stock Exchange

The Bombay Stock Exchange (BSE) has revealed that it has purchased 15% stake in the United Stock Exchange (USE), a new entrant in the currency derivatives space.

The sources said that the company, which is having a paid up capital of Rs 150 crore, will now function as a BSE group company. BSE's investment will be Rs 22.5 crore, a 15% of the paid-up capital.

The sources further added that HDFC, Bank of Baroda, Federal bank, Union Bank of India, Allahabad Bank and Bank of India are existing shareholders of USE.

BRITISH POUND / US DOLLAR

EURO / US DOLLAR

Until Dollar Traders Take in the NFPs, the RBA, ECB and BoE will Guide the Market

There is a lot of data scheduled over the coming week; and much of it holds the kind of market moving impact that could trigger breakouts. This is fortunate for those that love volatility; because many of the majors are resting on major anti-dollar support levels. All these individual releases aside though, the dollar will be put on the spot light immediately upon the open of Monday’s session in the Far East.

The benchmark currency ended Friday with its lowest close since September 30th. Traders will demand either a retracement or breakout to relieve tension; but it is very likely that this may be based upon pure speculation or risk appetite. This means the US Non-Farm Payrolls report will not lead the symbolic breakout or reversal; but it will likely still have a considerable impact. Ensuring the dollar isn’t the only fundamental mover for the week, we will see two general themes from the calendar. In addition to US payrolls, there are employment change numbers scheduled for Canada, Australia and New Zealand. The other commonality will be rate decision. The RBA, BoE and ECB are all due to deliberate rates and offer statements; and each holds a significant sway over its regional currency..

• RBA Rate Decision – Aug 4th (04:30 GMT)
The Reserve Bank of Australia’s rate decision is the first of the three policy announcements due over the coming week. Of the 19 economists polled by Bloomberg, all believe Governor Steven’s board will keep the benchmark unchanged at 3.00 percent. There is further little disagreement from the market as overnight index swaps are pricing in a negligible probability of any change. Considering previous central bank activity, this seems the likely outcome; but there is always room for surprise – and a hike or cut would be a major catalyst. However, the real influence from this event will likely come from the commentary that follows the announcement. Speculators are ready to believe the central bank is done easing and the next move will be a hike. Confirmation of these predictions (and more prominently, a time frame said hike) would go a long way in for Aussie strength.

• Bank of England Rate Decision – Aug 6th (11:00 GMT)
There is almost no possibility of either a hike or cut from the Monetary Policy Committee next Thursday. Further cuts are naturally limited by the fact that the benchmark is already at 0.50 percent and further easing would essentially usher in a ‘zero interest rate policy.’ And, more to the point, an additional 25-50 basis points of easing would impart little, additional support to the economy. Instead, rate watchers will be looking for any changes to the central bank’s bond purchasing scheme. At the last meeting, the program was kept at 125 billion pounds, suggesting to some that they were not doing enough to revive the economy while others took it as a sign that they were taking the first step towards hikes. The latter prediction is a very long ways off; but the speculation stands. Prime Minister Brown authorized 150 billion; so there is an easy an easy buffer for expansion without sparking fear that the central bank is losing control of the situation. Alternatively, holding steadfast without the proper commentary may strike the market as foolhardy.

• European Central Bank Rate Decision – Aug 6 (11:45 GMT)
Though it does not carry the rates of its Australian and New Zealand counterparts, the euro is backed by one of the highest interest rates among the majors. What’s more, speculation of near-term hikes has gained more traction with the ECB than with nearly every other central bank in this echelon. However, from a fundamental perspective; it would be very ambitious indeed if there was a move to hikes within the next few months. The Euro Zone’s largest economies (Germany and France) seem to be stabilizing; but many of its other members are still mired in recession. Without consumer spending to truly catalyze expansion, banks expected to deliver write downs over the coming year and Eastern Europe threatening to spark a wave of defaults that could swamp the broader credit market once again; there is a good argument for retaining a ‘wait-and-see’ approach.

• Canadian Employment Change (JUL) –Aug 7 (11:00 GMT)
Over the past two months, the Canadian employment data has had a significant, absolute impact on the loonie. However, there are factors working against this release. The first issue to take account of is that it is released on a Friday. There are only a few hours of deep liquidity left before the market thins out for the weekend. This means a fundamental surprise needs to be significant enough to overcome the market’s summation that it is unlikely that a meaningful trend will be born from this individual release. What’s more, with the US labor statistics due out just an hour and a half later, the market often overlooks this indicator (especially for USDCAD) to see how healthy US consumer demand will be for Canadian exports. Nonetheless, this employment data will be vital for benchmarking Canada’s recovery; so expect a short-term and long-term impact.

• US Non-Farm Payrolls (NFPS) (JUL) – Aug 12:30 (12:30 GMT)
While different indicators and events go in and out of fad as the markets change; the US payrolls report seems to consistently hold near the top of the market-movers list. The July release will be no different. Looking ahead to the week, the dollar is on the verge of a new trend; but it would be a long wait to hold out until Friday before direction can be found. The technical landscape will likely be very different by the time this event is released; but the impact will still be the same. This is a leading growth indicator; but it doesn’t have the same influence as say the 2Q GDP release in providing scope for how the US will further influence the global economy. This means, barring a major surprise (a reading 200,000 or greater above or below the consensus), this is likely to have a straightforward impact on price action. The consensus calls for a 345,000-person cut in payrolls for the month of July. This would be the smallest drop in 10 months and further expectations of stabilization and the fabled recovery. However, the devil is in the details; and an unemployment rate near 10 percent doesn’t point to growth.

G20 Summit and U.S. Consumer Sentiment Set To Dominate USD Trading

Today's upcoming G20 Summit of the 20 most industrialized nations in Berlin, Germany today is set to dominate USD trading. Additionally, the forex market is set to go very volatile on the publication on the U.S. Import Prices indicator at 12:30 GMT, and the publication of the U.S. Consumer Sentiment indicator at 13:55 GMT. Forex traders are advised to open their Dollar positions now in order to make profits as today's events unravel.
USD - Dollar Drops despite Positive Data from U.S

The Dollar's downtrend continued yesterday as the USD dropped against all the major currencies. The Dollar's most distinct bearish trend was marked against the GBP, as the pair was traded as high as the 1.6620 level.

In accordance to what appears to be developing into a pattern, the USD dropped in spite of some positive figures published from the US economy yesterday. The weekly Unemployment Claims report, which measures the number of individuals who filed for unemployment insurance for the first time during the past week, dropped for the fourth time in a row, this time to 601K. The figure is still quite large, and is far from depicting a strong, recuperating economy. However, the trend surely seems to favor the U.S. economy.

The U.S. Retail Sales figures were also published on Thursday, showing a 0.5% increase in the total value of sales at the retail level. This figure reflect a state of mind in which US consumers feel more comfortable to spend, which means they have more confidence that their financial status will improve with time. This kind of behavior is imperative in order to pull the economy out of recession, as only a better cycling of funds has the ability to create a real change in the current gloomy economic conditions.

As for today, there is the G20 Summit in Berlin Germany. Additionally, a batch of data is expected from the US economy, and traders are advised to focus on two main reports. First, the Import Prices which is scheduled for 12:30 GMT. This is one of the earliest publications that try to predict the level of inflation. Traders should also follow the Consumer Sentiment report, as analysts forecast another positive figure for this indicator, which can further support the notion that the U.S. economy returns to the fast lane.

EUR - EUR Looks to Finish the Week Strong

EUR trading on Thursday was highlighted by the EUR/USD climbing back above the 1.4100 level. In a week that was showing bearish movement on the oft-traded pair, the Euro rallied to make up ground on last weeks closing, as it trumped both the greenback and the Yen. Yesterday's push came shortly after the release of US economic data. Positive change in US Retails Sales and Unemployment Claims did not impress enough to drop the EUR for the USD, as the pair went bullish, as traders bought back into higher-yielding assets.
Early Thursday morning, saw the release of the European Central Bank's (ECB) Monthly Bulletin, which reveals data gathered by the ECB Governing Board on the state of the Euro-Zone economy. The report helped get the ball rolling on a bullish EUR trading day.
Traders can look toward Industrial Production at 9:00 GMT and a speech by ECB President Jean-Claude Trichet at 11:30 & 15:30 GMT for some indication to how the rest of the day will go for the EUR. Traders should also follow news from the opening of the G20 Meeting in Berlin, Germany throughout the day for any clues on policy that could add volatility to the forex market.

JPY - JPY Moves on Market Volatility

The Yen's high volatility continued yesterday, as it saw contradicting trends against the major currencies. On one hand, the JPY rose 15 pips against the USD yesterday, as the pair closed at the 97.75 level. On the other hand, the Yen dropped over 50 pips against the EUR, closing at 137.86 level.

It appears that lately the Yen is mostly affected by its counterpart currencies. The USD is currently very weak, and thus the Yen consistently appreciates against it. However, the EUR seems quite strong, and its recent appreciation has pushed down the JPY.

Looking ahead to today, traders are expected to follow the main news events from the US and Western Europe, and the commencement of the G20 Meeting in Germany later today. Traders are advised to follow these events very closely as they may set the pace for JPY trading later today.

Crude Oil - Oil Eyes $75 a Barrel

Crude Oil's bullish trend continues as the price of Crude continues to rise. Oil rose 42 cents to finish trading at $72.39 yesterday. The main reason for Crude's bullishness was the positive economic data released from the US economy. The weak Dollar also helped push up Oil prices yesterday. In addition, the International Energy Agency corrected its demand projection and increased it to 120,000 more barrels a day.

The bullish trend of Crude Oil looks to continue, with the potential of reaching $75 a barrel. Traders should follow the data published from the US, and news coming out of the G20 Meeting later today, as these factors are set to play into Crude Oil's bullishness later today.

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FX UPcoming

Euro Erasing Gains, Pound Finds Support From Higher Retail Sales

The Pound continued its steady march higher reaching above 1.6500 after bottoming at 1.6309 yesterday. A 1.2% jump in retail sales help provide support but wasn’t the catalyst for the move. Consumer consumption rose after an unexpected 0.9% fall in May as apparel sales skyrocketed by 4.7%. The U.K. housing market also saw signs of improvement with home loans rising to 35,325-the highest since March, 2008-according to the British Banker’s Association.

The rise in mortgages confirms the BoE’s lending report which called for improvement in home loans in the months ahead. However, the report also stated that credit for consumers and businesses continues to remain a challenge which could increase the chances of further quantitative easing from the central bank. However, yesterday’s minutes from the MPC’s last policy meeting indicated that they are leaning toward ending the asset purchase program but will wait until they can better assess the impact of current actions. We should get further insights at the August meeting when the central bank will release its quarterly inflation report. Until then we could see sterling continue to remain range bound between 1.6000 and 1.6700 which could spell weakness ahead.

The Euro has started to erase earlier gains after reaching an intra-day high of 1.4267 as traders appear reluctant to become too bullish. There is still a fair amount of uncertainty pertaining to a global recovery and although there have been signs of improvement; broad based unemployment has limited the expected potential for a rebound in growth. The Euro-Zone current account showed that demand from abroad remains weak as exports fell by 5.9%. However, on a seasonal adjusted basis the deficit narrowed to -1.2 billion from -6.1 billion as it showed a surplus in the goods account. Meanwhile, French business confidence rose for a fourth straight month to 78 from 77 on improving household demand supporting the notion that the regions’ economy is stabilizing. Technically the support/resistance line at 1.4180 continues to be a key level and could limit downside risks today. Yet, if the Euro continues to remain range bound a re-test of 1.3900 remains a possibility over the near-term.

The dollar has come under some pressure overnight as we have seen an increase in demand for risky assets. Earnings season for the most part has been positive outside of Morgan Stanley’s loss yesterday which has limited downside risks. Today we will have several; blue chip names report including 3M, AT&T and McDonald’s which could impact sentiment. Regardless jobs and housing data today will generate significant focus as they still remain as the critical elements in a recovery. Initial jobless claims are expected to increase to 557,000 from 552,000 which could dampen optimism as unemployment is expected to continue to rise until the end of the year. Meanwhile, existing home sales could add to the signs that the housing market is stabilizing with an expected 1.3% increase in June.