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US pending home sales rose by 1.5% in March. They were  were expected to rise by 1.1% after a drop of 0.4% in February. Year over year, sales rose by 7%, better than 6.1% that was expected.

The housing sector was a significant driver of the economic recovery, but recent figures haven’t been too good.

EUR/USD was enjoying a calm day, trading around 1.3080 before the publication. It already crossed the 1.31 line earlier. The formation of a new government in Italy helped the pair.

USD/JPY was trading in a narrow range between 97.60 and 98. It was hit by the BOJ and later by the US GDP, and fell from the double top of 100. It is now finally above the 98 line it failed to break earlier.

Later on, the Fed convenes to makes its rate decision, and the Non-Farm Payrolls are released on Friday.

Here are more details about the event:

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