US new home sales leap by 17.5% to 733K – USD ticks up

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The US housing market looks steaming hot, at least according to the annualized level of new home sales which jumped by 17.5% to 733K.Is this an outlier? It may be so. The figure for November was revised down to 624K, quite a big change from 685K originally published.

The final read of consumer confidence from the University of Michigan was to the downside: 95.9 against 96.8 originally published. The Conditions component is down to 113.8 and the Expectations one is at 84.3

The US dollar is ticking higher on the news, with USD/JPY trading at 113.42. The moves are relatively shallow and it seems that all the excitement is in digital currencies.

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Sales of new homes were expected to slide by 4.7% in November, dropping to 654K after a very high level of 685K in October, before revisions.

Earlier we received more important US data: durable goods orders fell short of expectations with a weak rise in the headline and drops in the core measures. The Fed’s favorite inflation figure remained stable at 1.5%.

More: BTC/USD dips to $10,400 before bouncing – trading halted at the CME

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About Author

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.

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