Existing Home Sales in the US were better than expected, and better than last month. This adds to last week’s housing data that also gave some hope. Is there a house at the end of the tunnel? American Existing Home Sales in the US stood on 4.72 million in February. Early expectations were for a fall from 4.49 million to 4.45 million. Not only did Existing Home Sales exceed early expectations, they also exceeded last month’s figure. Last week, I was wondering if American housing reached the bottom. This came after Building Permits rose by 3% to 547K (annually adjusted). This initial first surprise was followed by more good news: Housing Starts leaped by 22% to 583K, the first rise in 8 months, and the highest levels since November. Today’s good figure strengthens the notion that American housing has its worst days behind it. On Wednesday, the complementary figure of New Home Sales will be published in the US (Forex Weekly Outlook). New Home Sales are expected to stay similar to last month (305K) and to show a figure of 309K. With the Existing Home Sales being so positive, I wouldn’t be surprised to see a better figure also in the New Home Sales. This housing data comes as Timothy Geithener unfolds the Toxic Assets plan. I still think that the Toxic Assets Plan is Toxic Dollar in the short term. But in the long term, I am optimistic that this plan will not only keep American housing above the bottom, but also help it show a healthy growth and help revive the American economy. Is there a non-toxic house at the end of the tunnel? What do you think? Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading NewsOpinions share Read Next Forex Daily Outlook – March 24th 2009 Yohay Elam 13 years Existing Home Sales in the US were better than expected, and better than last month. This adds to last week's housing data that also gave some hope. Is there a house at the end of the tunnel? American Existing Home Sales in the US stood on 4.72 million in February. Early expectations were for a fall from 4.49 million to 4.45 million. Not only did Existing Home Sales exceed early expectations, they also exceeded last month's figure. Last week, I was wondering if American housing reached the bottom. This came after Building Permits rose by 3% to 547K (annually adjusted).… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.