US pending home sales surprised with a rise of 2.1%, much better than expecte . Early expectations stood on 0.5%, after last month’s figure was also negative – a drop of 2.8%. The dollar seems unimpressed by this release, as the housing sector is still the Achilles heel of the US economy. Last week’s new home sales were extremely bad – they stood on an annual growth of only 250K. Not only did it fall short of expectations, it also was the lowest level in many years. Also existing home sales, which are always of a higher magnitude than new home sales, posted an annual figure of 4.88 million last month, also below expectations for 5.15 million. EUR/USD remains stable at around 1.41 after the release and GBP/USD is at 1.6022, safe above 1.60. This release follows other better economic releases earlier in the day: personal spending rose by 0.7%, better than expected, and also got an upwards revision of last month’s figure. Personal spending and personal income didn’t exceed expectations, but they also saw the numbers of previous months get an upwards revision. The euro and the pound managed to recover from the lows seen earlier in the day. The euro reached the support line of 1.4030 that served as a significant cushion and then recovered. GBP/USD, that dropped under 1.60 earlier, also managed to get a boost during the New York session. The Australian dollar fell off its new historic highs of 1.0315, but is well above the previous peak of 1.0254. It settled on higher ground. USD/JPY rose to higher ground and isn’t making a retreat. It’s currently bound by the 81.80 line. The key to US recovery is Non-Farm Payrolls – only better employment can give a big boost to the dollar. 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 News share Read Next EUR/USD Continues Enjoying Trichet’s Hawkishness Yohay Elam 11 years US pending home sales surprised with a rise of 2.1%, much better than expecte . Early expectations stood on 0.5%, after last month's figure was also negative - a drop of 2.8%. The dollar seems unimpressed by this release, as the housing sector is still the Achilles heel of the US economy. Last week's new home sales were extremely bad - they stood on an annual growth of only 250K. Not only did it fall short of expectations, it also was the lowest level in many years. Also existing home sales, which are always of a higher magnitude than new… 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.