US Existing Home Sales Climb to 4.97 million (annualized)

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The sales of existing homes in the US climbed in October by 1.4% and reached a pace of 4.97 million units. This is above last month’s figure of 4.9 million, and better than 4.82 million that was expected.

While this isn’t a big upside surprise, this indicator shows that the US continues growing. The figure joins other positive ones seen lately in the US, with retail sales and the decline in weekly jobless claims being the most encouraging ones.

Currencies aren’t significantly affected by this indicator: it’s a small surprise and more importantly, the market is focused on Europe.

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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 the 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.