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US New Home Sales Fall to 411K (annualized), CB Consumer

US new home sales stood at 411K in February. They were expected to stand at 426K after 431K last month (revised down from 437K). US consumer confidence was predicted to tick down from 69.6 to 67.9 points but it fell all the way to 59.7 points.

The Richmond Manufacturing Index was expected to rise from 6 to 8 points but fell to 3.  Reaction in currencies is quite limited at the moment.

A drop in CB’s consumer confidence is in line with the drop in the consumer confidence indicator from the University of Michigan. Is it the expiration of the payrolls tax cut?

All three figures came out below expectations. Recently, most indicators have been positive, and when one disappointed, it was flooded by a bunch of positive ones.

Earlier, the S&P Case Shiller HPI exceeded expectations by rising 8.1% year over year. Durable goods orders were quite mixed.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.