The U.S. dollar was seen managing to stabilize on Monday. Economic data was sparse. In the NY trading session, the existing home sales report showed a decline to 5.38 million. This was slower than the forecasts of 5.44 million.
The previous month’s data was revised to 5.41 million and the report marked a third consecutive month of decline in existing home sales.
The economic calendar today will see the release of the flash services and manufacturing PMI figures from Markit covering the Eurozone and the U.S.
Activity in the Eurozone is expected to show a broadly unchanged picture while in the United States, activity in the manufacturing and services sector is expected to show a slight moderation from the previous month’s increase.
The U.S. Richmond Fed manufacturing index will be coming out later with forecasts pointing to a decline in the index from 20 last month to 18.
