The US to Unveil the New Home Sales Data Today

The US to Unveil the New Home Sales Data Today

The anticipated release about the New Home Sales in the US will be made on Tuesday at 14:00 GMT. The announcement of the indicator that represents the sales of newly constructed homes in the US for March will be monitored by the market participants who are trading in the US dollar quotes and those related to the housing sector of the market. Top economists are forecasting it to be 0.677 million. The data that measures new single-family home sales will be disclosed by the US Census Bureau.

The New Home Sales will be considered for assessment of the housing market conditions in the US. When it was declared on 25th Mar 2024 at 14:00 GMT, it was found to be 0.662 million in place of the forecasted figure of 0.638 million. It was 0.3% below the revised January rate of 0.664 million and 5.9% above the February 2023 forecasts of 0.625 million.

Therefore, now if there is an increase in the readings of the indicator it will have a favourable impact on the value of the American currency. So the market participants who are trading in the US dollar quotes are recommended to be vigilant during the release of the indicator and make adequate market decisions.

The S&P Global Manufacturing PMI for the Eurozone was Released

Even though the estimated figure of S&P Global Manufacturing PMI for the Eurozone was 45.5, it stood at 45.6, when the indicator that represents the activity of purchasing managers in the manufacturing sector of the Eurozone. Furthermore, the S&P Global Manufacturing PMI is deemed for the evaluation of the development of the industrial sector of the euro area. As the readings are below 50, they are most likely to impact the value of euro quotes negatively.