The national association of retailers published its monthly report regarding the Existing-home sales; according to the report the existing home sales in the US dropped in May by 3.8% to 4.81 million transactions, compared with April’s annual rate of home sales. This is the second straight month in which home sales declined. The current rate in May 2011 is also 15.3% below the home sales rate during May 2010.
The national median existing-home price in May 2011 reached $166,500, which is 4.6% below the price level during May 2010.
This report is consistent with other reports that were published in the last couple of months that show the US economy’s recovery is slowing down.
This news might affect traders to trade down the US dollar compared with other major currencies.
Current Nymex crude oil price, short term futures (July 2011 delivery) is traded up by 0.51% to $93.74 per barrel as of 14:36*.
The current Dated Brent spot oil price inclines by $0.37/b to $112.15 / barrel as of 14:47*.
Current gold price, short term futures (July 2011 delivery) is traded at $1,543.7 per t oz. a $1.7 increase or 0.11%, as of 14:35*.
Euros to USD is currently traded up to1.4365, which is a 0.4237% increase as of 14:47*.
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