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US existing homes sales stand at 5.04 million – down

This is a rise of 2.4% and marginally below expectations that stood on 5.06 million. For the whole year, we had a drop of 3.1% in existing home sales to 4.93 million.

This is a warning sign for the US economy. While  existing home sales do not trigger the same kind of activity as new home sales, they are teh vast majority of transactions.

The CB leading indicator rose by 0.5%, more than 0.4% estimated.

EUR/USD extends its recovery to 1.1267. This is over 150 from the low point of the day but  below the starting levels.

The US dollar has retreated from its highs against the euro and against other currencies, but has still gained a lot of ground

Earlier, Markit’s preliminary manufacturing PMI came out just below predictions, at 53.7 points instead of 54 expected.

The market is still digesting the massive QE program introduced by ECB president Mario Draghi.

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.