Among Wednesday’s US economic reports, some of them are worth mentioning: secondary home sales, housing prices and the index of leading indicators.
The secondary home sales declined 1.5% in may 2012 as opposed to the previous month. In absolute figures, the readings dropped down to 4,55 million units (annual rate). Nevertheless, this year’s sales turned out to be 9.6% higher than a year ago.
The housing price index (HPI) gained 0.8% in May, thus exceeding expectations.
The index of leading indicators exceeded the forecast as well, thus gaining 0.3%.
Forex.
According to the currency strategists of , the US Dollar index has just suspended its weakening against the basket of other major currencies and is currently fluctuating within the 83,20-81,39 price range. The top of the MF sloping channel and pivot 83,19 are the closest major levels of resistance. In order to resume the mid-term rally, the price will have to consolidate above the mentioned levels. Alternatively, further weakening may take place if the price consolidates below 81,41.
