BREAKING: The US housing market continues to weaken 📣📌

01:30 PM BST, United States - Building Permits for May:

• actual -2.0% MoM; previous -4.0% MoM;
• actual 1.393M; forecast 1.420M; previous 1.422M;

01:30 PM BST, United States - Housing Starts for May:

• actual -9.8% MoM; previous 2.7% MoM;
• actual 1.256M; forecast 1.350M; previous 1.392M;

01:30 PM BST, United States - Employment Data:

• Initial Jobless Claims: actual 245K; forecast 246K; previous 250K;
• Jobless Claims 4-Week Avg.: actual 245.50K; previous 240.75K;
• Continuing Jobless Claims: actual 1,945K; forecast 1,940K; previous 1,951K;

The US housing market remains weak, with housing starts at their lowest since 2020 and permits below expectations. Despite lower mortgage rates, demand hasn’t improved, and homebuilder sentiment is near crisis-era lows.