Sales of new homes dropped by 10.4% to 536K in December, down from an upwards revised 598K in November. This is quite a significant miss. The CB Leading Index rose by 0.5% as predicted. The US dollar has been on the mend coming into the release. Will this plunge in new home sales change the picture? The US was expected to report an annualized level of new home sales at 588K, a 1% drop from the 592K level seen in November (before revisions). At the same time, the CB Leading Index carried expectations for a rise of 0.5% after remaining flat beforehand. Sales of new homes matter more to the economy despite their smaller share of overall transactions. Each sale of a new property creating a cascading effect of further economic activity: roads, schools, etc.Earlier this week, existing home sales came out as expected. The US dollar was reasserting itself after a weak start to the week. EUR/USD slipped under 1.07, USD/JPY topped 114 and GBP/USD dropped under 1.26 despite an excellent GDP report from Britain. Earlier, Markit’s flash services PMI surprised to the upside with 55.1 points against 54.4 predicted. On the other hand, jobless claims disappointed with a jump to 259K. This did not stop the greenback comeback. The most important release of the week is scheduled for tomorrow: the initial GDP report for Q4. See how to trade the US GDP with EUR/USD 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next EUR/USD: Targeting 50% Fibo; GBP/USD: Targeting 38.2% Fibo – Yohay Elam 6 years Sales of new homes dropped by 10.4% to 536K in December, down from an upwards revised 598K in November. This is quite a significant miss. The CB Leading Index rose by 0.5% as predicted. The US dollar has been on the mend coming into the release. Will this plunge in new home sales change the picture? The US was expected to report an annualized level of new home sales at 588K, a 1% drop from the 592K level seen in November (before revisions). At the same time, the CB Leading Index carried expectations for a rise of 0.5% after remaining… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
