US new homes sales for April came in 634 k vs 678 k exp. and 693 k previously (revised to 665 k) (-4.7% vs -2.2% exp. and 8.8% previously)
Reading shows that higher interest rates in US trim demand for new homes significantly. Despite on that market push back the timing of the first Fed rate cut to December from November, as US PMI came in much higher, than expected especially in Services.
Chart of the day 🚩 AUDUSD down despite strong Austarlian job market data
Economic calendar 🔼 Markets wait for the key US macro data
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BREAKING: EURUSD extends decline after Eurozone PMI data ⚡
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