US January existing home sales 4.62 m vs 4.67m expected

Existing home sales from the National Association of Realtors:

  • Prior reading was 4.87m
  • Lowest in 18 months
  • Sales down 5.1% month-over-month
existing home sales Feb 21

existing home sales

`Poor weather wasn`t completely to blame for the drop in activity,`the NAR chief economist said. He also cited lack of inventory.

EURUSD rose to a fresh high at 1.3759a after the data.

Author: Adam Button

Adam Button is the managing editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

7 Comments

  1. Yet another red light ignored on the way to the train wreak! Onwards and upwards! Destiny beckons lol

  2. Once again… Bad news… Are good news!!!!

  3. Must be the cold weather and snow ;)

  4. @zan, how is this consider bad data? It is within expectation. Only 50k less home sold in this freezing winter.

    Long USDX to 80.67

  5. U.S. Existing Home Sales Fall To 4.62 Million in January. http://www.kitco.com/news/2014-02-21/January-Existing-Home-Sales.html

  6. Quantity of home sales may have dropped but prices have increased. Anyhow, this data shouldn’t have caused a blip. Classic pump and dump at play here, trying to lift E/U above 1.37. Watch for E/U 1.3780. If it breaks, we are in euro Spanish bull run land.

  7. @14,
    Great numbers… if we were not at maxs… since we are about to break maxs i dont see those numbers so dam good!!

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