A string of solid economic indicators in the U.S. has lowered expectations for the U.S. central bank to roll out a new round of stimulus measures, which would weaken the dollar to spur recovery.
Consumer sentiment figures have surprised on the upside as have retail sales numbers, industrial production figures and other indicators, Investors will remain focused on Wednesday, when the Federal Reserve releases the minutes of its most recent monetary policy meeting.
The National Association of Realtors said Americans bought more homes in July than in June and prices rose, evidence of a recovering housing market. The 2.3 percent increase in sales from June was the first gain in three months.
Investors will be looking for hints of the Federal Reserve's plans to fuel economic growth when it releases the minutes from its latest meeting.
Given the lack of dramatic improvement or deceleration in the economy, some investors are giving up hope that the Fed will add economic stimulus or signal that the economy is strong enough to be self-sustaining.
The Fed will likely say what they have in the past because there's nothing that has moved the needle on the economy lately
But the rate of home sales, at 4.47 million annually, was below the pace of April and May and well below the rate of roughly 5.5 million that economists consider healthy.
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