U.S. Pending Home Sales Rebound 0.6% In Augustfxcue.com

(fxcue news) - A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. rebounded modestly in the month of August. NAR said its pending home sales index climbed by 0.6 percent to 70.6 in August after plunging by 5.5 percent to 70.2 in July. A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale. "A slight upward turn reflects a modest improvement in housing affordability, primarily because mortgage rates descended to 6.5% in August," said NAR Chief Economist Lawrence Yun. He added, "However, contract signings remain near cyclical lows even as home prices keep marching to new record highs." The rebound by pending home sales partly reflected strong growth in the Midwest and West, with pending home sales in both regions surging by 3.2 percent. Pending home sales in the South also inched up by 0.1 percent during the month, while pending home sales in the Northeast tumbled by 4.6 percent. A separate report released by the Commerce Department on Wednesday showed new home sales in the U.S. pulled back sharply in the month of August. The Commerce Department said new home sales plunged by 4.7 percent to an annual rate of 716,000 in August after soaring by 10.3 percent to a revised rate of 751,000 in July. Economists had expected new home sales to tumble by 5.3 percent to a rate of 700,000 from the 739,000 originally reported for the previous month. The upwardly revised rate for July was the highest since new home sales hit an annual rate of 781,000 in February 2022.

U.S. Pending Home Sales Rebound 0.6% In August

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U.S. Pending Home Sales Rebound 0.6% In August

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Trader

EURUSD trading, selling for profit

In the morning session of the Asian market, buying spot gold resulted in profits, while selling GBP/USD resulted in profits.

The price of gold has risen again, with 2 buy orders yielding profits and short-term sell orders yielding profits at high levels, perfect.

Suggestions for spot gold trading operations: Sell when the price rises close to 2680, sell when it unexpectedly rises above 2690, and buy when the price falls close to 61 or 54. I bought near 2650 in the morning yesterday and sold near 2670 and 2673 in the evening.

In terms of short-term trading strategy for Japanese gold, it is recommended to focus on buying with a pullback and selling with a rebound as a supplement. The short-term focus should be on the 2680-2685 resistance line above, and the short-term focus should be on the 2655-2650 support line below.

The price of gold remains strong, and we broke even today.

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U.S. Pending Home Sales Rebound 0.6% In August

Sensex

European Stocks Close Higher On Hopes Of More Chinese Stimulus

U.S. Jobless Claims Unexpectedly Dip To Four-Month Low

Swiss Market Ends On Firm Note As SNB Cuts Rates Again

Yen Falls Against Majors

Asian Markets Trade Mostly Higher

U.S. Pending Home Sales Rebound 0.6% In August

U.S. Durable Goods Orders Virtually Unchanged In August

Please sign in

Trader

EURUSD trading, selling for profit

In the morning session of the Asian market, buying spot gold resulted in profits, while selling GBP/USD resulted in profits.

The price of gold has risen again, with 2 buy orders yielding profits and short-term sell orders yielding profits at high levels, perfect.

Suggestions for spot gold trading operations: Sell when the price rises close to 2680, sell when it unexpectedly rises above 2690, and buy when the price falls close to 61 or 54. I bought near 2650 in the morning yesterday and sold near 2670 and 2673 in the evening.

In terms of short-term trading strategy for Japanese gold, it is recommended to focus on buying with a pullback and selling with a rebound as a supplement. The short-term focus should be on the 2680-2685 resistance line above, and the short-term focus should be on the 2655-2650 support line below.

The price of gold remains strong, and we broke even today.

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