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US new home sales slides to 467K – USD slide extends

In September, new home sales stand at 467K (annualized). This is actually a 0.2% rise after significant downwards revisions. The revisions are more significant than the actual result in this case, as expectations stood on around 470K.

US dollar weakness is extended after the publication.  EUR/USD is on high ground at 1.2680, GBP/USD  edging towards 1.61, USD/JPY slips  towards 107.80, USD/CAD touches 1.12 and AUD/USD challenges resistance at 0.8820.

More data: homes for sales hit 207K, the  highest since 2010. This good news does not help the greenback. The average selling price of new homes fell to 259,000 dollars, the lowest  in over year. And this may certainly counter the previous figure.

Sales of new homes were expected to slide below 500K in September. Initially, August saw a leap to 504K, but this was now revised sharply to 466K.


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.