Negative macroeconomic statistics from the United States | 21 Juli 2022

21 Juli 2022, EUR/USD

EURUSD trading plan:

U.S. existing home sales fell for a fifth straight month in June to the lowest level in two years, as fast-rising interest rates and record-high selling prices make buying a home too expensive for a growing share of American households. Mortgage interest rates have soared as a result of the Federal Reserve's stiff rate hikes to try to tame high inflation. That has driven a new buyer's monthly payment up by more than 50% in the first six months of 2022 by some estimates and has had a clear effect on home sales that had surged during the COVID-19 pandemic to the highest levels since the mid-2000s. The median existing house price climbed 13.4% from a year earlier to an all-time high of $416,000 in June. It was the 23rd straight month of double-digit annual price gains, the longest such run since the late 1970s.

Investment idea: buy 1.0177 and take profit 1.0235.

David Johnson
Analyst of «FreshForex» company
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