BREAKING: Massive beat in US home sales data

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US existing home sales data for February was released at 2:00 pm GMT today and it turned out to be a massive beat. Data came in at 4.58 million, up from 4.00 million in January and significantly above 4.20 million expected by the market. The release trigger an uptick on equity markets with S&P 500 (US500) reaching a fresh daily high near 4,030 pts. USD, on the other hand, was muted with EURUSD barely moving in the first minutes following the release.

US500 reached a fresh daily high near 4,030 pts following release of blockbuster home sales report. The index is currently testing 50-session moving average (green line). Source: xStation5

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