The new home sales figure for the month of February probably fell to a 13 years low at 579 thousands units, down from 588 thousands in January, maybe not offsetting the effect of improvement of the existing homes sales, but still reflecting a part of the declining sector and confirming the trends in the markets.
Before that we will be watching the durable goods orders numbers that will be uncovered, where we expect to see an increase of 0.8% after declining 5.3% in January, the expected improvement is due to increasing aircraft sales, while excluding transportations orders are expected to fall 0.3%.
The U.S. economy is indeed between a rock and a hard place, Bernanke and his fellas are trying every possible way to handle the economy right, they've tried everything they could to be able to take the detour around recession, yet nothing seems to be working perfectly, and the existing home sales numbers on Monday were the first sign of improvementÃ¢â‚¬Â¦but the question is was that and actual improvement or was it just a one month extraordinary thing??!!
Lets watch the news today dear reader, the general trend is still for more dollar weaknesses, more Euro improvement and more yen appreciation, that will be valid until something new comes a long and change the sentiment.