Pending Home Sales m/m comes in at -2.3% against -1.1% consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
US Pending Home Sales m/m for August registered a decline of -2.3%, according to data released today. This figure came in weaker than the market consensus expectation of -1.1%. The actual print also marked a less severe contraction compared to the previous month’s revised figure of -5.4%. The surprise against consensus was -109.1%.
In the 15 minutes following the release, the US Dollar showed limited directional movement against major pairs. AUDUSD moved -2.1 pips, EURUSD gained +3.2 pips, and GBPUSD rose +2.1 pips. NZDUSD was up +2.7 pips. Against the USD, USDCAD moved -5.0 pips, USDCHF moved -3.1 pips, and USDJPY moved -5.0 pips. Gold, XAUUSD, saw a gain of +14 pips. These initial moves are generally small when compared to the typical median 1-hour moves observed after past Pending Home Sales releases, which include 8 pips for AUDUSD, 12 pips for EURUSD, 15 pips for GBPUSD, 8 pips for NZDUSD, 11 pips for USDCAD, 9 pips for USDCHF, 13 pips for USDJPY, and 22 pips for XAUUSD.