DislikedMuted response considering worse housing numbers than was expected. I would have thought it would have been more bullish (could still be bullish I maybe jumping the gun here 45 mins after event)
Theories why?
The market new before hand that housing was bad
Comments by Bernanke said housing will be bad but will have limited effect on markets
Alot of analysts believe this could be a bottom in housing
Yesterdays new housing sales was much better than expected.
Not just cable where this data hasnt had a big impact USD/CHF, USD/JPY GBP/JPY havent seen decent moves 'yet'.
Anyone else got a view on this housing data?Ignored
Cbl has support @ 9840....stronger @ 9785....a break above 9890 is needed to confirm an advance north back twdrs 2.000 handle.
Breeze