The US Existing Home Sales Report will Influence Real Estate and USD Trends

The U.S. existing home sales report will influence real estate and USD trends

The U.S. Existing Home Sales report from the National Association of Realtors is to be published on November 21, 2024, at GMT 15:00, this critical indicator is interpreted as the number of completed sales on the secondary market for the previous month. Analysts expect the value to come in at 3.78 million, which is lower than the 3.84 million reported the prior month.

Shedding light into the state of the U.S. housing market, the report might suggest that consumers are slowly gaining confidence and stability in the economy. The real estate sector might have achieved a level of resilience, despite the current economic challenges, which can boost the sentiment towards the U.S. dollar. A disappointing figure may mean that demand for houses is slowing down and this is an attempt to temper the strength of the dollar.

Market participants may view this report through the prism of interest rate expectations. A strong housing market may underpin the hawkish stance of the Federal Reserve, while weaker numbers can reinforce the expectations of policy easing.

Since this report aligns with broader economic conditions, its outcomes are likely to sway investor sentiment and market trends. Real estate and forex market stakeholders will thus be very concerned with the date of the release since new dynamics can be established in an already uncertain economic landscape.

Will Jobless Claims Impact the U.S. Dollar? Insights Await

The U.S. Department of Labor is scheduled to publish Initial Jobless Claims statistics today at 13:30 GMT. The estimate is still the same at 217,000 claims. It is the same as last week. This indicator captures the number of first-time filers of unemployment benefits. It is generally considered an indicator of labor market conditions.

A reported number above expectations can portend weaknesses in employment conditions, and that could spoil the confidence of economic recovery in the United States. That might be a drag on the U.S. dollar as a development that could be interpretable to markets as a sign of economic cooling.

On the contrary, a lower-than-expected figure could be an indication of continued labor market strength that might reinforce optimism among investors. However, given the volatility of weekly data, markets would tend to focus on the four-week average to drive a more stable view. This might elicit responses from both forex and equity markets.