New York Session - October 19, 2009 5:25 PM

Currencies remain beholden to the goings on in the equity space and the rally in stocks continued to lead the riskier currencies higher. US equities closed up nearly 1% in the face of a weaker than expected housing number as the Fed signaled yet again that it is not ready to withdraw stimulus. The homebuilder sentiment index (NAHB) printed 18 in October while the market had forecast an increase to 20 from 19 the prior month. The homebuyer traffic number sank from 17 to 14 and the weakest read since July – looks like that looming expiry of the homebuyer tax credit is starting to bite. Full text »