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US New Home sales tank 11.4% in March

FXStreet (Mumbai) - The official data released in the US on Thursday showed new home sales fell 11.4% to 481K, compared to the prediction of a 4.5% fall to 514K.

The surprisingly weak new home sales data comes a day after the release of existing home sales and the FHFA's home price index, both rose more than expected.

Last month’s drop had been the biggest since July 2013. The Commerce Department revised the February reading up to 543,000, the highest since February 2008. Figures for December and January were also stronger than previously estimated.

USD/JPY struggling to regain 120.00 – FXStreet

Valeria Bednarik, Chief Analyst at FXStreet, gives the technical outlook and key levels for USD/JPY, expecting the pair to see gains towards 120.85 if it breaks above the daily high at 120.08.
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USD/JPY retreats as US new home sales slump

USD/JPY retreated from the 120.00 area as the dollar weakened after the latest string of US data showed new home sales dropped sharply in March while Markit manufacturing PMI missed expectations.
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