Fundamental Analysis: EUR/USD – Pending Home Sales
The EUR/USD currency pair confirmed an upward trend on Thursday, as the US economic reports failed to provide sufficient support for the Greenback. The Euro gained 0.17% against the US Dollar to continue a side move above the 1.1890 mark until the Friday morning session. The National Association of Realtors revealed that pending home sales in the United States fell 0.8% over the month of July, as the property market kept facing hurdles form a limited supply of available houses, which pushed prices up. The report suggested that sales would not break out in the coming months, as inventories are unlikely to improve significantly, while higher property prices are set to continue outpacing wage growth further, causing more strains on first-time buyers.
Historical Data Table: Pending Home Sales m/m
| Date | 27.04.2017 | 31.05.2017 | 28.06.2017 | 31.07.2017 | 31.08.2017 |
| Actual | -0.8% | -1.3% | -0.8% | 1.5% | -0.8% |
| Forecast | -0.6% | 0.7% | 0.9% | 0.9% | 0.4% |
Initial Reaction on Main Pairs
| Open Price | Close Price | % Change | |
| AUD/USD | 0.79058 | 0.79129 | 0.09% |
| EUR/USD | 1.18539 | 1.18702 | 0.14% |
| USD/JPY | 110.376 | 110.266 | -0.10% |
| NZD/USD | 0.71499 | 0.71523 | 0.03% |