Mubasher: The United States MBA mortgage applications declined slightly by 8.8% by the end of the third week of January, against 9%  a week earlier.

The dollar slightly decreased by 0.04% against a basket of currencies to reach 99.02. It retreated by 0.04% against the euro to 1.0877 per dollar.

The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall US economy. Normally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).