Macroeconomic data released from the United States today was weak, but it did not prevent the dollar from rallying to the highest level since February 1 against the euro. One of the possible reasons for this was the unexpected drop of eurozone inflation. (Event A on the chart.)
Chicago PMI dropped form 55.6 to 47.6 in February, noticeably below the forecast figure of 52.1. (Event B on the chart.)
Pending home sales were down 2.5% in January — a big and unpleasant surprise to market analysts, most of whom had anticipated an increase by about 0.6%. The December’s gain got a substantial positive revision from 0.1% to 0.9%. (Event C on the chart.)
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