The United States published housing sales data at 7:30 PM WIB, showing a sharp decrease of 8.5%, significantly worse than Trading Central’s forecast of 3.4% and down from the previous figure of 5.2%. This substantial decline signals serious challenges facing the housing sector, often viewed as a key indicator of U.S. economic health, amid high interest rates and global uncertainties. Following the data release, Gold prices surged to $3,672 due to increased demand for safe haven assets.
Market sentiment is further reflected in the movements of major currencies, with GBPUSD climbing to 1.3651 while EURUSD fell to 1.1839. This divergence indicates selective capital flows into certain assets amid expectations regarding U.S. monetary policy. As housing data weakens and inflation continues to be a concern, investors are now awaiting the Federal Reserve’s decision later tonight on whether the central bank will maintain high interest rates for an extended period or signal a possible easing. This outlook will play a crucial role in determining the next direction of the market, as well as the extent of further pressures on the U.S. economy in the latter half of the year.
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