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Commentary Topic from greenfaucet

Weak Rebound in Pending Home Sales, All Eyes on Testimonies in Washington

Consider today's price action in the currency market to be the calm before the storm. This morning, the U.S. dollar is virtually unchanged against most of the major currencies but with 2 more interest rate decisions this week and non-farm payrolls on Friday, this consolidative price action is not going to last. The lack of market moving data today explains the mixed performance of the U.S. dollar. Pending home sales was the only number released this morning and it came out right in line with expectations.