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Dollar Loses Against Euro as Housing Sector Improves

May 4, 2009 by Andriy Moraru

Housing sector in U.S. showed some improvement today, while the stock markets were less than usually concerned with the swine flu outbreak and the global recession. EUR/USD rose for the second day today and is now trading near 1.3328.

Construction spending rose by 0.3% in March compared to February level. That was the first gain in more than a year. February change was -1%. The median forecast for March was at -1.5%.

Pending home sales index rose by 3.2% in March, following 2% increase in February. According to the market analysts’ forecast it should have remained unchanged in March.

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