U.S. Existing Home Sales Slip To 5.35 Million

Sep 20, 2017 at 10:11 AM EDT

The annualized level of existing home sales was expected to rise by 0.3% to 5.46 million in August after 5.44 in July (before revisions). Most sales are for second-hand homes.

The US dollar was stable against major currencies ahead of the all-important Fed decision later today. Commodity currencies were on the move, aided by rising commodity prices. Oil inventory data will be released soon.

The Fed is expected to announce the beginning of reducing its balance sheet, or Quantitative Tightening (QT). The current balance sheet stands at around $4.5 trillion. Markets will be focused on the odds for the next rate hike. Currently, a rate rise in December is a coin flip.

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