EUR/USD extended its rally during the current trading session as the relatively dovish policy statement released from by Federal Reserve last week continues to affect the Forex market. Hopes for the resolution of the Greek debt crisis also contributed to the rally of the currency pair.
Existing home sales were at the seasonally adjusted annual rate of 4.88 million in February. It was a modest increase from the January’s rate of 4.82 million. The median forecast promised a bigger gain to 4.91 million. (Event A on the chart.)
On Thursday (March 19) several reports were released:
Initial jobless claims grew by a meager 1k to 291k last week versus the analysts’ predictions of 295k. (Not shown on the chart.)
Current account deficit widened from $98.9 billion to $113.5 billion in Q4 2014, beating economists’ expectations of $103.0 billion. (Not shown on the chart.)
Philadelphia Fed manufacturing index was at 5.0 in March, almost unchanged from the February’s reading of 5.2, while experts predicted an increase to 7.2. (Not shown on the chart.)
Leading indicators rose 0.2% in February, the same rate of growth as in January and a bit slower than the forecast 0.3%. (Not shown on the chart.)
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