Home sales yesterday came in a little higher than expected. On a month-to-month basis Home Sales are up 1.5%, bring home sales up to a 417,000 annual pace.
“There is momentum in the housing market, in that inventories are lean, prices are picking up, and people are trying to buy, which is fueling the recovery,” said economist Daniel Silver at JPMorgan Chase & Co. (Bloomberg)
There has been what appears to be momentum in the housing market for several months now. Though nothing dramatic, a slow, steady, and consistent pace of increase could manifest in the markets, including the value of the U.S. Dollar.
Durable good orders fell in March by the most in seven months. Demand dropped for commercial aircraft and business investment lost a little interest too.
Could the Durable goods effect the U.S. strength we see against the Euro today?
The EURUSD is looking interesting with a twin-tower like signal on the Daily Charts, could we break 1.29 in the next couple weeks?
Winner’s Edge Trading, as seen on: