The European single currency remained relatively strong agains the Greenback, despite much stronger-than-anticipated the US new home sales figures. Following the report, EUR/USD depreciated 9 pips or 0.07% to 1.1930 to remain above the 1.1900 level despite some bearish signals.
Sales of new single-family homes in the US marked solid increase to reach a ten-year high due to robust demand throughout the country, providing a boost to the property market. The Commerce Department showed that new home sales rose 6.2% to a seasonally adjusted yearly rate of 685K in October, the highest level in ten years. Moreover, upbeat results indicated that housing kept gaining momentum after the lack of available properties and suitable land restraned the growth.
| Historical Data Table: US New Home Sales | Economic Calendar for 28.11.2017 | ||||||||
| Date | 26.07.2017 | 23.08.2017 | 29.09.2017 | 25.10.2017 | 27.11.2017 | 2:00 PM | US Housing Price Index | ||
| Actual | 610K | 571K | 560K | 667K | 685K | 4:30 PM | BoC Governor Poloz Speech | ||
| Forecast | 599K | 611K | 585K | 555K | 627K | 8:45 PM | Treasury Sec Mnuchin Speech | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.76142 | 0.76094 | -0.06% | AUD/USD | 53.62% | 46.38% | |||
| EUR/USD | 1.19387 | 1.19301 | -0.07% | EUR/USD | 41.05% | 58.95% | |||
| USD/JPY | 111.108 | 111.17 | 0.06% | USD/JPY | 45.12% | 54.88% | |||
| NZD/USD | 0.69124 | 0.69101 | -0.03% | NZD/USD | 58.56% | 41.44% | |||