Home prices fell 2.2% in November and 18.2% versus the prior November in the 20 largest metropolitan areas of the US. That’s bad news for the banks which continue to struggle with high levels of foreclosures. As we saw yesterday, lower prices are bring in some buyers as sales of existing homes rose 6.6%, unexpectedly.
EUR/US blipped above 1.3200 on the data before recieding slightly. We trade now at 1.3196. Offers are seen in the 1.3215 region with more toward 1.31260/65.