Pending Home Sales in the U.S. to Rise

A rise of 1.1% is expected today for March’s Pending Home Sales data. February showed a disappointing fall of 0.4%, which indicated somewhat of a slowdown in the U.S. Housing Market. The reading followed a 3.8% increase in January. The 10:00am announcement for pending home sales will be a critical number, as we are heading into Quarter 2.

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Wednesday, the FOMC Statement will be released. There is no change in policy expected, but investors and economists will keep a close eye on what the statement says. It is likely that the Fed’s Quantitative Easing strategy will continue to buy $85 billion worth of bonds each month.

The EURUSD will be in the spot light this week as major Euro and U.S. Dollar news is expected to be released.

There is currently pressure on the ECB to change the interest rate Thursday at the ECB press conference.

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