US existing home sales slide to 5.52 million

The annualized level of sales of existing homes was expected to slide by 1% to 5.58 million in June from 5.62 million in May (before revisions).

The US dollar slightly extended its drops in the wake of the new week. The falls were more pronounced against the yen and also the Australian and Canadian dollars.

Earlier, Markit’s services sector PMI beat expectations.

Most transactions in the housing sector are for existing, second-hand homes. However, sales of new homes trigger wider economic activity.

The big event of the week is the Fed decision: Fed preview: transitory or not transitory? This is the question[1]

Get the 5 most predictable currency pairs[2]

from Forex Crunch

from Online Forex Trading Resource
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