The Pending Home Sales showed a fall of 4.0% . This was far worse than a drop of 0.9% that was expected. This sent the dollar down.
The dollar rallied until this announcement against all the major currencies: Euro, Yen and Swiss Franc. Now this trend has been reversed.
The ISM Non-Manufacturing PMI was surprisingly better than expected, but still weak at 40.6 . The ISM figure was published at exaclty the same time. Also note the monthly Factory Orders, tumbling down 4.6%.
Later, the dollar got another blow by the bottom line of the FOMC Meeting Minutes: the Federal Reserve wanted to send a strong message: Interest Rates will stay low for a long time.
This exciting week is not even in the middle, and it is already very dramatic for those of you that are trading Forex.
