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The annual level of US existing homes sales was expected to rise to 4.99 million. This is a rise of 0.6% from a revised figure of 4.94 million last month. The original report stood on 4.92 million. All in all – no big changes.

EUR/USD extends its gains after the publication and breaks above 1.2960. USD/JPY slid lower and rose once again on this very slight miss. The new home sales will be published later on in the week.

Ben Bernanke now takes the scene.