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Winter Weather Chills US Dollar

From the hourly graph it seems like EUR reacted most to the weak US data. The pair is right now testing the resistance at 1.3757 and should move in downward direction from this level. USDCHF as correlated with EURUSD behaved exactly opposite to it.


 National Association of Realtors in its report on Existing Home sales showed that the existing home sales fell in January to the lowest level in a year and a half but the prices continue to go up because of the ongoing inventory shortages. Seems like unusual weather is playing a role here. Also ongoing concern of tight credit, limited inventory, higher prices and higher mortgage interest rates may hinder home sales until the positive factors of job growth and new supply for higher housing starts to make as impact. From the above graph the impact of bad weather condition can be clearly seen.