Happy Blogger
0
All posts from Happy Blogger
Happy Blogger in Around the Web with a Twist,

New Home (Residential) Sales Figures Released by US Census Bureau

Notice a change in the USD? It's possible the USD was impacted by the release of New Home (Residential) Sales a few moments ago.
New Home Sales  measure new single family homes that were sold in the past month. Previously, this number was reported at 464K beating out a forecast of 449K.  This month it was forecasted at 457K and the actual figure was 414K.  Cold weather is in part to blame for this 7.1% drop in sales.

New Home Sales is an important figure for forex traders because its a leading indicator of economic health given the widespread implications of new homes selling.   As more and more homes are sold, these homes need to be mortgaged, furnished, and maintained. All these activities mean that money is being spent and therefore it will cause the economy to grow.