By CommoditiesMansion.com
Oil prices continued to rise over the past period, where the political unrest in the Middle East and North Africa regions continued to push oil prices higher, and we should expect developments in the Middle East to continue to be the major market mover for crude oil prices.
Moreover, data from the United States will also affect the pair’s movement, where the Income report and the pending home sales are scheduled for release.
Monday 12:30 GMT, the income report is expected to show that personal income increased in February by 0.4% after rising by 1.0% in January, while personal spending is expected to rise by 0.6% in February after rising by 0.2% in January, where income and spending are still rising at a moderate pace in the United States.
Core PCE is expected to rise by 0.2% in February after rising by 0.1% in January, while compared with a year earlier, Core PCE is expected to rise by 0.9% in February after rising by 0.8% in the prior estimate.
Monday 14:00 GMT, the pending home sales index will be released for the month of February, where pending home sales are expected to rise by 0.9% after dropping by 2.8% in January, noting that housing markets activity remain depressed in the United States.
