US existing home sales rose by 4.2% during May, reaching annual number of 5.18 million and marking the highest value since November 2009. National Association of Realtors said that sales of existing homes jumped by 12.9% on annual basis in May, submitting a signal that recovery in the housing sector might continue. The average price of an existing house climbed to 208 000 USD, the highest value since 2008. The average price per home was 15.4% higher than that recorded in May 2012, as it climbed by the fastest pace since 2005. Preliminary estimates showed annual value of 5.00 million homes, while during April the sales indicator stood at 4.97 million.
Additionally, the Philadelphia FED Index reached 2-year high in June, rising sharply to a level of 12.5 from -5.2 in May. This sudden climb surprised economists, who placed their expectations, regarding the index reading, in negative territory, -1.0. Positive values state that more companies managed to expand their business activity. New orders indicator rose to 16.6 in June from -7.9 in May.
EUR/USD pair erased another 30 pips after the release of the above series of positive data from the United States, falling down to a fresh session low at 1.3160.
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