The Dollar weakened versus most majors after Federal Reserve Chairman Ben Bernanke told Congress that a weak job market and low inflation would likely allow the central bank to keep interest rates at very low levels for a long time. Sales of new homes in the U.S. unexpectedly plunged in January to the lowest level on record, coming out at 309K vs. 354K forecast. NASDAQ and Dow Jones increased by 1.01% and 0.89% respectively. Crude oil rose by 1.3% closing at 79.9$ a barrel, Gold (XAU) decreased by -0.45% closing at 1098$ an ounce. Today, Unemployment Claims are expected to decline from 473K to 461K, Core Durable Goods Orders is expected at 1.1% vs. 1.4%, Fed Chairman Bernanke Testifies.
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