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.
Daily Summary: Bitcoin Excites Investors Despite the Fed's Hawkish Shift🏛️
BREAKING: US industrial production & manufacturing data lower than expected
Yen loses ground after the BoJ decision
Hawkish remarks by BOJ Governor strengthen the yen – key takeaways