FX Closing Comments

The was mixed today, falling against the Yen and Canadian Dollar, and remaining range bound against other majors. This morning's poor new housing number for January (down 5%) brings to the fore concerns about the strength of the U.S. housing market. Tomorrow will show us the related existing home sales data, which has the potential to weigh on the Dollar if it proves negative. There is also a lot of data on the European calendar tomorrow, increasing the likelihood of volatility in the popular EUR/USD pair.