Analysts at Nomura note that US new home sales rose 6.7% m-o-m to 689k in May, above expectations (Nomura: +0.5% to 665k, Consensus: +0.8% to 667k), from a downwardly revised April reading of 646k. Key Quotes “New home sales in the South jumped sharply by 17.9% in May after falling 4.1% in April and 1.1% in March. Sales in the Midwest were flat while sales in the Northeast and West declined.” “Altogether, excluding the South, new home sales declined 6.4% m-o-m.” “In our view, the strong increase in the South in May appears unsustainable and implies increased risk of mean reversion in June.” “GDP tracking update: The May new home sales report suggests stronger-thanexpected sales activity during the month and points to a modestly improved contribution from brokers’ commissions, a component of residential investment, to GDP growth. Thus, after rounding, we revised up our Q2 real GDP tracking estimate by 0.1pp to 4.2% q-o-q saar.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY: On the defensive after the DJIA closed below 200-day MA FX Street 3 years Analysts at Nomura note that US new home sales rose 6.7% m-o-m to 689k in May, above expectations (Nomura: +0.5% to 665k, Consensus: +0.8% to 667k), from a downwardly revised April reading of 646k. Key Quotes "New home sales in the South jumped sharply by 17.9% in May after falling 4.1% in April and 1.1% in March. Sales in the Midwest were flat while sales in the Northeast and West declined." "Altogether, excluding the South, new home sales declined 6.4% m-o-m." "In our view, the strong increase in the South in May appears unsustainable and implies increased risk of mean… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
