The amount of homes that were already sold but awaiting the final transaction dropped by 5.5%. No change was expected.
This bad news from the housing sector comes from a volatile index, and isn’t in line with existing and new home sales that were OK.
EUR/USD is almost unchanged following the publication, trading at the lows of 1.2416 it dropped to earlier. USD/JPY is dropping to 78.88 at the time of writing.
The initial report for last month stood on a big rise of 4.1%. This was revised to the downside, to a rise of 3.8%.
Last week, new home sales came out better than expected. Existing home sales came within expectations. Both indicators were seen as signals of stabilization and bottoming out in the housing sector.
US indicators continue playing second fiddle to the rapid events in Europe. Nevertheless, the Non-Farm Payrolls in Friday will certainly have at least a few minutes in the spotlight.
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