16:00 - Sales of New houses in the USA, August:
- New Houses sales: 800k (Expected: 650k ,Previous: 652k)
- New Houses sales m/m: 20% (Expected: -0,3% ,Previous: -0,6%)
August new home sales in the U.S. came in much stronger than expected at 800k. This is signaling resilient demand in the housing market despite elevated mortgage rates and growing stress on the labor market. The upside surprise suggests that households remain willing and able to commit to large purchases, underlining the continued strength of consumer confidence and the broader economy.
While this is a positive economic indicator, at the same time, such robust housing activity may raise concerns about sticky inflationary pressures, as stronger demand can feed into higher prices for labor and materials. For markets, this means the data could limit expectations of near-term rate cuts from the Federal Reserve. Which would inflict pressure onto stocks but support the dollar.
Source: Bloomberg Finance LP
Detailed data about sales point out to the facts that overwhelming majority of sales occurred in the south and prices of the real estate managed to climb up again after months of declines.
Daily summary: Silver plunges 9% π¨Indices, crypto and precious metals under pressure
US100 loses 1.5% π
π¨Gold slumps 3% amid markets preparing for Chinese Lunar Year pause
Cocoa falls 2.5% to the lowest level since October 2023 π
