Economic Indicators: Contracts to buy previously owned U.S. homes rose far less than expected in October, the latest sign that the housing market recovery was losing momentum after strong gains early this year.
The National Association of Realtors said on Monday its pending home sales index edged up 0.2 percent to 107.7. While the increase ended two straight months of declines, it was far below economists' expectations for a 1.0 percent rebound. Pending home contracts become sales after a month or two, and last month's small gain suggested home resales will probably not bounce back after falling 3.4 percent in October.
Forex: The euro fell to fresh seven-month lows against the U.S. dollar on Monday, as investors remained cautious ahead of the European Central Bank's policy meeting this week, while talk of a U.S. rate hike boosted the greenback.
EUR/USD hit 1.0563 during U.S. morning trade, the pair's lowest since April 14; the pair subsequently consolidated at 1.0578, easing 0.13%. The pair was likely to find support at 1.0528, the low of April 14 and resistance at 1.0640, Friday's high.
Stocks: Wall Street opened little changed but looked set to end the month on a positive note as investors braced for a week of heavy economic data culminating in the November jobs report.
The three major indexes were set to end the month higher for the second straight month. Investors are awaiting Friday's non-farm payrolls report ahead of a mid-December meeting of the Federal Reserve.
Commodities: Gold edged higher on Monday, as appetite for the precious metal improved following the release of disappointing U.S. economic data.
The National Association of Realtors said its pending home sales index inched up 0.2% in October, disappointing expectations for a gain of 1.5%.
Commodities: Oil prices turned higher on Monday, amid hopes the Organization of the Petroleum Exporting Countries will cut output to support the market when it meets later this week.
On the ICE Futures Exchange in London, Brent oil for January delivery tacked on 56 cents, or 1.26%, to trade at $45.42 a barrel during U.S. morning hours. On Friday, prices declined 60 cents, or 1.32%.
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