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BREAKING: Soft US data

3:03 PM 23 December 2019
  • US new home sales at 719k (734k expected)
  • Durable orders see a big dive on defense aircraft
  • Core orders continue to be weak

Another US release disappointed today with new home sales at 719k annualized vs 734k expected. That’s slightly up from October but the previous number was revised down from 733 to 710k. Not a massive miss but confirms a soft tone we got from the previous report.

EURUSD is at the support zone – will soft US data help the pair?  Source: xStation5

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Earlier today we had a November reading on durable orders that saw a big miss at -2% m/m versus the expected increase of 1.5% m/m. That miss was nearly entirely caused by defense aircraft orders (down 73% m/m) but also civic aircraft which was quite a surprise as Boeing showed an increase in orders for its 737 model. The core component that is much more stable was flat in m/m terms and continues to show relative weakness of business spending for investment.  
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