Pending home sales dropped by 0.4% in the US during the month of February. They were expected to drop by 0.3% after rising 3.8% last month (revised down from 4.5% originally reported.
New home sales disappointed yesterday by standing at an annual level of 411K, worse than expected.
In general, the housing market in the US is still a leading sector.
EUR/USD stabilized on this news. The pair already fell sharply earlier in the day, finding a new 4 month low and losing the 1.28 level. It currently holds above minor support at 1.2750.
USD/JPY which is often the best pair to react to US data, is stable around 94.25 on the result which was within expectations.
