Home resales in the US disappointed market expectations, falling to the lowest level of 2017. However, the report had a little impact on the EUR/USD currency pair, where the Greenback lost against the Euro only 4 base points or 0.04%, but rapidly revenged losses and continued the Friday's session below the 1.1800 level.
The National Association of Realtors reported that the US existing home sales dropped 1.3% to a seasonally adjusted yearly rate of 5.44M in July, missing expectations for an increase to 5.55M units. A decrease was caused by the lack of available properties for sale, which limited the housing market recovery and forced price surge to notable outpace wage growth, while overall demand for housing remained strong.
| Historical Data Table : Existing Home Sales | |||||
| Date | 25.04.2017 | 23.05.2017 | 23.06.2017 | 26.07.2017 | 24.08.2017 |
| Actual | 5.71M | 5.57M | 5.62M | 5.52M | 5.44M |
| Forecast | 5.61M | 5.65M | 5.54M | 5.59M | 5.55M |
| Initial Reaction on Main Pairs | |||||
| Open Price | Close Price | % Change | |||
| AUD/USD | 0.78952 | 0.78978 | 0.03% | ||
| EUR/USD | 1.18008 | 1.1805 | 0.04% | ||
| USD/JPY | 109.199 | 109.191 | -0.01% | ||
| NZD/USD | 0.7214 | 0.72167 | 0.04% | ||