BREAKING: US pending home sales below expectations

3:00 PM 27 June 2024

US Pending Home Sales (MoM):

May: -2,1%
Expected: 0,5%
Previous -7,7%

US Pending Home Sales took an unexpected decrease in May compared to the previous month. Current trends might suggest easing home prices in upcoming months due to the softening demand. Pending home sales took the worst decline in Midwest and South regions of the USA, however in the Northeast and West they increased. Compared to last year, sales declined in every main region.

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US Dollar took another downward move after worse than expected Pending Home Sales. However USDIDX quickly recovered and is now traded over its support level around 105.4, which stopped previous declines after data from US economy. Source: xStation

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