US pending home sales disappointed with a drop of 0.8%. They were expected to remain flat in February after a minor rise of 0.1% in January. Changes in this figure are usually larger. Year over year, sales plunged 9% last month and no less than 10.5% this time. Given previous volatility in this figure, the miss is not that huge.
The dollar was somewhat retreating towards the publication. EUR/USD traded around 1.3670, GBP/USD was at 1.6625 and USD/JPY around 102.15. — more coming. The US dollar is slightly lower in the aftermath.
Earlier, US data surprised to the upside: weekly jobless claims dropped to 311K and while US Q4 2013 GDP was revised only to 2.6% instead of 2.7%, but the components seem better than reported beforehand.
There is little to indicate that the Fed will not taper once again in its April meeting. More: 5 most predictable currency pairs
