BREAKING: USD muted after US new home sales miss

3:02 PM 26 July 2023

US new home sales data for June was released at 3:00 pm BST today. Report was expected to show a 725k, following 763k in May. However, actual reading turned out to be much lower with report for June showing 697k. USD moved slightly higher in a knee-jerk move but has pared those gains later on. Nevertheless, market reaction was minimal and scale of the move on EURUSD did not exceed 0.1%

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EURUSD at 5-minute interval. Source: xStation5

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