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According to analyst at TD Securities, in the US session, new home sales are expected to decline 2.6% m/m to 650k in March, following two consecutive months with sequential increases that pulled sales near a year high of 667k in February.

Key Quotes

“Separately, the consensus expects the Richmond Fed manufacturing index to have stayed unchanged at 10 in April, suggesting further stabilization in the manufacturing outlook. Note that the combination of the ISM-adjusted versions of the NY Empire and Philly Fed surveys already suggests the ISM manufacturing index isn’t likely to deviate much from current levels in April.”