24 Jun 2014
US housing sector in focus on Tuesday - TD Securities
FXStreet (Łódź) - Prashant Newnaha, Asia-Pacific Macro Strategist at TD Securities believes that the highlight of the US session today will be the release of US housing price numbers, following yesterday's better than expected Existing Home Sales data.
Key quotes
"We look for May new home sales to increase a more modest 0.9% to 439K, consistent with a housing sector that is gradually recovering from its recent slowdown."
"Home prices are also expected to increase, with the April S&P/Case-Shiller index likely to rise 0.9% m/m following last month’s strong 1.24% m/m increase, decelerating modestly to 10.2% y/y from 12.4% last month."
"June Conference Board consumer confidence is also expected to rebound to 84.2 from 83.0."
Key quotes
"We look for May new home sales to increase a more modest 0.9% to 439K, consistent with a housing sector that is gradually recovering from its recent slowdown."
"Home prices are also expected to increase, with the April S&P/Case-Shiller index likely to rise 0.9% m/m following last month’s strong 1.24% m/m increase, decelerating modestly to 10.2% y/y from 12.4% last month."
"June Conference Board consumer confidence is also expected to rebound to 84.2 from 83.0."