US Existing Home Sales: Fresh evidence of severe economic slowdown

Sales of existing homes declined 8.5% in March, more than forecast, FXStreet’s analyst Joseph Trevisani informs.

Key quotes

“Sales in the largest sector of the housing market fell more than expected in March sliding 8.5% to 5.27 million annualized units.”

“If the decline in home sales persists and accelerates, it will bode ill for consumption in the general economy.”

“In the current high risk-averse market environment, economic trouble has supported the safety trade to the US dollar.”