Pending Sales in US dive by 12%

Friday, 27 May 2011 05:35

Important US release came out just minutes ago about US Pending Home Resales.  The number of 'second hand' homes declined by 12% this month, after two appreciating months of February and March.  Pending Sales dropped from 3.5% to a staggering 11.6% even though expectations were ar 0.9%. 

US Pending House Resales is important is Forex market traders as it's the leading economic health indicator, as the sales of homes trigger a wide-reaching ripple effect. 

EUR/USD continues to trade at 1.4137.  GBP/USD at 1.6451 and CHF/USD 0.8562.