US home sales and manufacturing pick up, while leading indicator drops

Mixed data from the US just now, which has seen a strengthening dollar throughout much of the day, as yesterday's Fed announcement is digested by traders.

The CB leading indicator for May dropping from 0.8 per cent (revised from 0.6 per cent) to 0.1 per cent (economists had expected a slighter dip to 0.1 per cent). The indicator is a measure for economic stability.

Existing home sales perked up, growing by 4.2 per cent, despite forecasts that they would remain flat at 0.6 per cent. 5.18m existing homes were sold in May, up from 4.97m last month.

Finally the Philadelphia Fed's manufacturing survey gives us a good number for June, up from -5.2 to 12.5. Analysts had predicted a rise to -0.2. This survey is often used as a forecast for the ISM manufacturing index and is a spread index of manufacturing conditions.