Pending Home Sales Report

Home SalesInvestors are waiting for the U.S. Pending Home Sales report to be released Wednesday morning.

In the stock market, the S&P 500 dwindled some as traders await the pending home sales release.

Figures from yesterday showed that U.S. New Home Sales fell 4.6% in February. New home sales in the northeast fell 13.3%. In the south, they fell 9.7%. The west saw a slight decline of 2.1% and the Midwest increased 13.7%.

Today’s pending home sales It is expected that pending home sales will also decline, a .3% drop is expected to be communicated by the National Association of Realtors today. Last month pending sales hit a two-year high.

The markets focus
The Euro is obviously the focus of the markets today as theCyprus complications continue. Nonetheless, U.S. housing market news can always affect the USD.

This week the U.S. Dollar has been weak, let’s see if it turns around.

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