US Pending Home Sales Tick Lower 0.4% – Within

0

Pending home sales dropped by 0.4% in the US during the month of February. They were expected to drop by 0.3% after rising 3.8% last month (revised down from 4.5% originally reported.

New home sales disappointed yesterday by standing at an annual level of 411K, worse than expected.

In general, the housing market in the US is still a leading sector.

EUR/USD stabilized on this news. The pair already fell sharply earlier in the day, finding a new 4 month low and losing the 1.28 level. It currently holds above minor support at 1.2750.

USD/JPY which is often the best pair to react to US data, is stable around 94.25 on the result which was within expectations.

Get the 5 most predictable currency pairs

About Author

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 the 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.

Comments are closed.