News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bearish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
More View more
Real Time News
  • Please join @CVecchioFX at 7:30 EST/11:30 GMT for a webinar where you can develop a strategy for a major risk event. Register here: https://t.co/D8DAmLpkuS https://t.co/Ewx60v7GVy
  • UK CHAPS payment data shows aggregate spending 90% of February 2020 average in week to June 17th, previous reading 95% - ONS
  • Traders focus a lot of their energy on spotting the perfect time to enter a trade. While this is important, it is ultimately where traders choose to exit trades that will determine success. Learn about the three types of trading exit strategies here: https://t.co/muYkTNXH7s https://t.co/ZW1gp50see
  • 🇵🇭 Interest Rate Decision Actual: 2% Expected: 2% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-06-24
  • 🇩🇪 Ifo Business Climate (JUN) Actual: 101.8 Expected: 100.6 Previous: 99.2 https://www.dailyfx.com/economic-calendar#2021-06-24
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 89.64%, while traders in GBP/JPY are at opposite extremes with 75.17%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/N26m07YWxC
  • Heads Up:🇵🇭 Interest Rate Decision due at 08:00 GMT (15min) Expected: 2% Previous: 2% https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇩🇪 Ifo Business Climate (JUN) due at 08:00 GMT (15min) Expected: 100.6 Previous: 99.2 https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:🇪🇺 European Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-24
  • Heads Up:💶 ECB General Council Meeting due at 08:00 GMT (15min) https://www.dailyfx.com/economic-calendar#2021-06-24
U.S. February New Home Sales Falls Unexpectedly for Second Month

U.S. February New Home Sales Falls Unexpectedly for Second Month

Tzu-Wen Chen, Technical Strategist

THE TAKEAWAY: [New home sales in U.S. unexpectedly falls in February, second month of decline] > [Housing market still struggling to stabilize] > [USDollar weakens]

Sales of new single-family homes in the U.S. unexpectedly declined for the second straight month in February. According to estimates released jointly by the U.S. Consensus Bureau and the Department of Housing and Urban Development, new home sales fell by 1.6 percent to an annual pace of 313,000, the lowest level since October. Economists surveyed by Bloomberg News had expected sales to rise to 325,000. Meanwhile, January’s figures were revised downwards to 318,000 from an initial estimate of 321,000.

After ending the year on a strong note, new home sales figures have been disappointing so far this year, signaling that the housing market may not be stabilizing as quickly as anticipated. This is further indicated by weaker-than-expected February figures for new home starts and existing home sales that were released earlier this week. On the other hand, prices surged to their highest level in eight months, suggesting that builders anticipate more demand in the months ahead. The median sales price climbed more than 8 percent in February to $233,700.

AUDUSD 1-minute Chart: March 23, 2012

U.S._February_New_Home_Sales_Falls_Unexpectedly_for_Second_Month_body_Picture_2.png, U.S. February New Home Sales Falls Unexpectedly for Second Month

Chart created using Market Scope – Prepared by Tzu-Wen Chen

Immediately following the data release, the greenback climbed against most of its major peers. However, market correction on the weaker-than-expected housing data saw the U.S. dollar reverse directions and tumble to trade at levels lower than those seen before the release of the sales figures. At the time of this report, the U.S. dollar had dropped 17 pips against the Australian dollar and was trading around $1.0402.

--- Written by Tzu-Wen Chen DailyFX Research

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES