BREAKING: USD muted after existing home sales miss

US existing home sales data for March was released today at 3:00 pm BST. Report was expected to show a drop from 4.58 million in February to 4.5 million now. However, the actual report missed expectations and showed 4.44 million. This marks a 2.4% drop, compared to a 14.5% increase in the previous month. While data missed expectations, a 4.44 million reading for March was still the second highest one since October data.

Markets barely saw any reaction to the data - EURUSD moved around 0.1% higher after the release while US500 dropped around 0.1%.

EURUSD ticked higher following disappointing US existing home sales data for March. The main currency pair is trying to break above a short-term resistance zone in the 1.0980 area. Source: xStation5