We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Oil - US Crude
Bearish
Wall Street
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Bearish
GBP/USD
Bullish
USD/JPY
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • The Australian Dollar market is headed for a bare domestic data cupboard which will once again leave overall market risk appetite in charge. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/PaURQyZN79 https://t.co/XGcZEGFX91
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.12%, while traders in US 500 are at opposite extremes with 79.33%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/6yxLb0Zhsi
  • AUD/USD Technical Analysis: False Break Higher to Mark Top? - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/05/25/AUDUSD-Technical-Analysis-False-Break-Higher-to-Mark-Top.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/8mOURfT0hp
  • LIVE IN 30 MIN: Join DailyFX Senior Strategist @IlyaSpivak LIVE as he discusses the outlook for the financial markets in the week ahead! https://www.dailyfx.com/webinars/889679267
  • China set the #USDCNY daily reference rate at 7.1209 vs 7.0939 on Friday, weakest since 2008. #China
  • APAC MARKETS SNAPSHOT: Early risk-on tilt seems to have faded. Most G10 FX majors flat, #AUD slightly lower and #GBP a bit higher. #Nikkei and #ASX200 still up but overall APAC shares down approx. 0.3% on average
  • I think we all do this on some level. Care to assist me in a similar campaign @tracyalloway? https://t.co/yS4jrJ2B8x
  • Tune in to @IlyaSpivak 's #webinar at 10:00 PM ET/2:00 AM GMT for insight on the cross market weekly outlook. Register here: https://t.co/E213bTtq5C https://t.co/D5T3ErQYi5
  • Japanese Economy Minister Nishimura says a state of emergency is no longer needed in nay region of the country - BBG #Coronavirus #JPY
  • $gld prices may face heightened liquidation pressure as US-China tensions over Hong Kong heat up ahead of US GDP data amid the coronavirus pandemic. Get your $XAUUSD market update from @ZabelinDimitri here: https://t.co/vmoJXC2KSm https://t.co/dNGB1d0T9C
US Pending Home Sales Fell More Than Forecast

US Pending Home Sales Fell More Than Forecast

2013-02-26 14:35:00
Renee Mu, Currency Analyst
Share:

THE TAKEAWAY: [US Pending Home Sales fell more than expected in February] > [Inventory shortage held back a further recovery in housing, while demand remains high] > [USD/CAD Bullish]

The number of signed contracts to purchase previously owned homes in the U.S. dropped in February as limited inventories drags on the housing sale despite of a high demand. The National Association of Realtors reported today that its pending home sales index, a forward-looking indicator based on contract signings, fell by 0.4 percent to 104.8, following a 3.8 percent increase in January that was downwardly revised from 4.5 percent initially reported. The median forecast of 37 economists surveyed by Bloomberg News had projected a 0.3 percent decline in the Index. On a yearly basis, pending home sales rose 5.0 percent in February, falling short of the expectation for an 8.7 percent increase.

Relatively low inventories held back the recovery of the US housing sector. Demand for existing homes, on the other hand, is pick up which pushes up home values. As new home constructions continue to increase, the shortage of available properties is likely to be relieved in the following months.

USD/CAD 1-minute Chart: March 27, 2013

US_Pending_Home_Sales_Fell_More_Than_Forecast__body_Picture_1.png, US Pending Home Sales Fell More Than Forecast

Chart created using Marketscope 2.0 – Prepared by Renee Mu

The U.S. dollar slightly strengthen against the Canadian currency following the data release, with USDCAD rally to C$1.0171. At the time of this report written, the USDCAD was trading lower to C$1.0166.

--- Written by Renee Mu DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.