Forex Currency Trading.

European currency has not made much progress against yen and the US dollar, and it has bounced back against the sterling. Today, ECB President Jean Claude Trichet mentioned that the ECB was not necessarily committed early to driving up interest rates at its next policy meeting, which is to be held on September sixth of this year. The remarks will increase the possibility that problems in global credit markets will force the ECB to keep its present overnight call rate.The Euro dropped slightly against the US dollar this morning in NY after jumping to a two-week high of 1.3684. The euro proceeded to move roughly sideways throughout the day, arriving at 1.3651 by three PM Eastern time.This morning, the National Association of Realtors unveiled its report on current home sales for July of this year, revealing that existing home sales dropped slightly compared to a progressively revised reading for last month.The report mentioned that current home sales moved down 0.2% to a yearly rate of 5,750,000 units in July from a progressively revised movement of 5,760,000 million units in June. With the decline, current home sales were down 9% from year to year. Unfortunately, this is one of the many common occurrences with forex currency trading.