The US existing home sales fell for the third month in a row in April. The indicator showed -2.7% after having registered -3.7% in March. The result disappoints the 2% increase expected by the market.
In total, the number of existing home sales dropped to 5,850,000 from the previous 6,010,000, down from the 6,090,000 expected.
EUR / USD reaction
EUR / USD has lost more than 20 pips immediately following the better than expected US PMI data, falling to fresh lows for the day at 1.2175. At time of writing, the pair is trading above 1.2184, shedding 0.36% daily.
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