USD: US Pending Home Sales Plunge 7.3% in September vs -0.5% Expected
The source reports no currency price move, pip figure or technical levels in response to this release. US pending home sales fell 7.3% in September, a much larger decline than the -0.5% consensus forecast and a reversal from the prior month's +0.3% gain. The source gives the prior index reading as 71.2 but does not provide the new index value. Published monthly by the National Association of Realtors, the report tracks signed contracts to purchase existing homes rather than completed transactions. This makes it an early indicator of demand in the existing housing market and a lead signal for future existing home sales. The source does not mention any Federal Reserve reaction. For traders, the size of the miss relative to expectations makes it a notable soft data point for the US economy, and it may factor into how markets assess the strength of US domestic demand and the USD outlook.
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