The Takeaway: [U.S. consumer confidence facilitated for the second month;] [The record U.S. sales more large decline since February 2011] > [real estate market struggles to stabilize] > [USDollar weakens]
The U.S. consumer confidence eased slightly for the second month of law in April. Index Trust Conference Board consumption, a key indicator of sentiment of consumers, tempered in 69.2 in April, down from 69.5 in March. The figure in March were reported as 70.2. April printing is the median forecast of 69.6 resort in a study of Bloomberg News, economists.
In its report, the Conference Board noted that "slight dip was motivated by a moderation in consumer short term prospects, while their assessment of the current situation continued to improve." Overall, consumers were more optimistic about the US economy, although they remain "cautiously optimistic". Prospects for market consumption work is less optimistic, which is not surprising, given recent data show that the average number of people seeking benefits of unemployment in the last month is to a maximum of three months, while the growth of new jobs had slowed last month.
At the same time the Office of Consensus to the United States and the Department of housing and urban development have jointly published a report shows that sales of new single-family homes in the United States decreased unexpectedly by the largest amount since February 2011. Sales fell by 7.1% to an annual rate of 328,000 units in March, after February sales figure was revised upward to 353 000 to an initial estimate of 313 000. Economists surveyed by Bloomberg News had expected sales increase by 1.9% to 319 000, based on the original February figures.
After the end of the year on a strong note, new home sales figures were mixed so far this year, with two of the three months of decline. New home prices also decreased in March, down 1.0% on month at an average sale price of $234 500. The decline in sales and prices indicate that the housing market may not stabilize as quickly as expected.
Chart 1-minute USDCAD: 24 April 2012
The U.S. consumer confidence eased slightly for the second month of law in April. Index Trust Conference Board consumption, a key indicator of sentiment of consumers, tempered in 69.2 in April, down from 69.5 in March. The figure in March were reported as 70.2. April printing is the median forecast of 69.6 resort in a study of Bloomberg News, economists.
In its report, the Conference Board noted that "slight dip was motivated by a moderation in consumer short term prospects, while their assessment of the current situation continued to improve." Overall, consumers were more optimistic about the US economy, although they remain "cautiously optimistic". Prospects for market consumption work is less optimistic, which is not surprising, given recent data show that the average number of people seeking benefits of unemployment in the last month is to a maximum of three months, while the growth of new jobs had slowed last month.
At the same time the Office of Consensus to the United States and the Department of housing and urban development have jointly published a report shows that sales of new single-family homes in the United States decreased unexpectedly by the largest amount since February 2011. Sales fell by 7.1% to an annual rate of 328,000 units in March, after February sales figure was revised upward to 353 000 to an initial estimate of 313 000. Economists surveyed by Bloomberg News had expected sales increase by 1.9% to 319 000, based on the original February figures.
After the end of the year on a strong note, new home sales figures were mixed so far this year, with two of the three months of decline. New home prices also decreased in March, down 1.0% on month at an average sale price of $234 500. The decline in sales and prices indicate that the housing market may not stabilize as quickly as expected.
Chart 1-minute USDCAD: 24 April 2012
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