03:00 PM BST, United States - New Home Sales for May:
- actual 623K; forecast 694K; previous 722K;
03:00 PM BST, United States - New Home Sales for May:
- actual -13.7% MoM; previous 9.6% MoM;
New data continues to highlight a clear problem with sales in the United States. There has been a significant increase in housing supply recently, but a lack of new buyers. While the dollar and stock indices are not reacting strongly to the data, lower timeframes show a slight weakening of the currency and declines in futures contracts.
Daily summary: Weak US data drags markets down, precious metals under pressure again!
US Open: Wall Street rises despite weak retail sales
BREAKING: US RETAIL SALES BELOW EXPECTATIONS
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