News | Forex Optimum

News

News

U.S. builder confidence improves solidly in May

The National Association of Homebuilders (NAHB) announced on Wednesday its housing market index (HMI) rose three points to 66 in May, the highest reading since October 2018.

Economists forecast the HMI to increase to 64.

A reading over 50 indicates more builders view conditions as good than poor.

All three HMI components were higher this month. The indicator gauging current sales conditions rose three points to 72, the component measuring traffic of prospective buyers increased two points to 49, and the measure charting sales expectations in the next six months edged one point higher to 72.

NAHB Chairman Greg Ugalde said: “Builders are busy catching up after a wet winter, and many characterize sales as solid, driven by improved demand and ongoing low overall supply. However, affordability challenges persist and remain a big impediment to stronger sales.”

Meanwhile, NAHB Chief Economist Robert Dietz noted: “Mortgage rates are hovering just above 4% following a challenging fourth quarter of 2018 when they peaked near 5%. This lower interest rate environment, along with ongoing job growth and rising wages, is contributing to a gradual improvement in the marketplace. At the same time, builders continue to deal with ongoing labor and lot shortages and rising material costs that are holding back supply and harming affordability.”

You may also be interested:

17:37 19.07.2019
ECB to use July meeting to steer towards a rate cut in September - Rabobank
Rabobank analysts think that the ECB’s Governing Council will use the July meeting to steer towards a rate cut in September.“Policy rates:We expect forward guidance to be updated to signal a rate cut, e.g. “The Governing Council now expects the key ECB interest rates to remain at their present or lower levels [...]”We think that this would herald a 10bp rate cut in September. Additionally, we see 3 follow-up cuts in the coming 12 months.Draghi signaled that further rate cuts would be accompanied
17:36 19.07.2019
U.S. consumer sentiment index rise slightly less than forecast in early July
A report from the University of Michigan revealed on Friday the preliminary reading for the Reuters/Michigan index of consumer sentiment rose to 98.4 in early July.Economists had expected the index would increase to 98.5 this month from June’s final reading of 98.2.According to the report, the index of current U.S. economic conditions edged down to 111.1 in July from 111.9 in the previous month. Meanwhile, the index of consumer expectations rose to 90.1 this month from 89.3 in June.
16:46 19.07.2019
Canada's retail sales soft again in May – RBC
Nathan Janzen, the senior economist at Royal Bank of Canada (RBC), notes that the Canadian retail sales fell 0.1% in May and excluding prices, sales were down 0.5%.“The details of the May report don’t look quite as soft as the headline.  Most of the month-over-month decline was attributed to an unusually large 2.0% drop in food & beverage store sales that will probably reverse at some point.  Sales increased in 7 of 11 subsectors – including another sizeable monthly rise in sales
Deposit
options
Trading
platform
download
Bonuses VIP