US new home sales were expected to rise to an annualized level of 500K from 468K beforehand (before revisions). The revisions are to the downside, to 4.47 million.
Consumer confidence was revised to the downside: from 93.1 to 91.3. No change was predicted. All in all, we have disappointments.
This doesn’t seem to stop the dollar in the immediate reaction with EUR/USD even falling to lower levels of 1.0566 before stabilizing around the previous area of 1.0580.
Earlier we had an even bigger bulk of US data: durable goods orders beat expectations on all measures and also jobless claims dropped nicely. However, the Fed’s favorite core PCE price index remained unchanged at 1.3%.
The data has been brought forward due to the Thanksgiving holiday tomorrow and effectively on Black Friday.
The greenback was especially buoyant against the euro: fresh talk about what the ECB might do, even if it is misguided, has sent EUR/USD to new 7 month lows. Support awaits at 1.0530.
More: Â ECB Preview: Short euro and long bunds opportunities
