New U.S. Home Sales Nearly Hit 500,000 Rate

new home sales

Purchases of new homes in the U.S. rose 8.3% in June. This climb in sales brings the annualized new home sales figure to 497,000, the highest level in more than 5 years.

Sales in the month of May were revised down to a 459,000 annual rate from an initially reported 476,000 rate.

Demand for new homes was strongest in the Northeast which saw sales climb 18.5%, according to MarketWatch.

The EUR/USD is currently at a strong resistance point of 1.325. Despite the great economic news for the U.S. Dollar yesterday, it’s immediate effect on the market was limited.

Unemployment Claims

Today’s unemployment claim figures did not catch the market off-guard. 343K people filed for unemployment in the previous week. 339K was the expectation of economists, and a 4K deviation will likely not produce any volatility in the markets today. Last week’s figure came in a little lower at 336K.

Until next time, for news updates and more fundamental analysis, you can follow me on Twitter. Follow the Winner’s Edge account, Casey’s twitter account, Nathan’s twitter account, and Tim’s twitter account too for Forex analysis, and trade ideas!

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