Interpretation of macroeconomic data on June 26: Annualized/monthly rate of total new home sales in the United States in May, Recommended reading: ★★★
22:00 U.S. May new home sales total annualized (10,000 units) previous value 69.8 (63 before correction) expected 64 units
The annualized monthly rate of new home sales in the United States in May was 0.2% as expected,
This data is a statistical data on new home sales in the United States, provided by the Ministry of Commerce, and is also a leading indicator of economic activity. Looking at the sales of new homes, we can make an adjustment to our expectations of the US economy, which is an important parameter for economic observation.
The annualized value was 619,000 households, which was lower than expected and significantly lower than the previous estimate. New home sales in May fell month-on-month. Under high interest rates, people were less willing to buy new homes, resulting in a year-on-year decline in new home sales. It also indicates that the U.S. real estate market began to weaken in May.
The monthly rate recorded a value of -11.3, which was significantly lower than the expected and previous value. The monthly rate data was very exaggerated. I personally expect that the next period data will definitely be significantly repaired. According to the data, the sales of new homes in the United States in May dropped significantly compared with the previous month. The real estate industry cooled down rapidly in May, and economic activities decreased. At the same time, the cooling of the real estate industry can also reflect the economic situation of the United States from the side.
New home sales in the United States fell significantly in May, which is not good for the US economic outlook. At the same time, the sharp decline in new home sales will bring about demand tightness in the rental market in the short term, thereby inducing an increase in rental prices, which is not very friendly to Friday's PCE data.
Of course, there will be existing home sales data tomorrow. If new home sales decline and existing home sales increase significantly, it may be self-regulation of the real estate industry and will not have much impact on inflation. However, if existing home sales data also decline significantly, then rents in May may create resistance to the reduction of PCE.
22:30 U.S. EIA crude oil inventory for the week ending June 21 (10,000 barrels) Previous value -254.7 Expected -285 million barrels
This data is a statistical data on crude oil inventories in the United States, which will bring about adjustments to the supply and demand relationship of crude oil in the United States, and ultimately affect the price of crude oil in the United States.
The data recorded 359.1. As of June 21, crude oil inventories increased significantly, the market supply and demand relationship slowed down, and crude oil prices may fall. Of course, these data belong to June data. At present, our focus is on May PCE. This data is only for record and will not be discussed too much.
Tomorrow is the announcement date for the final value of the US first quarter GDP. The actual situation of the US first quarter GDP will have a direct impact on the Federal Reserve’s monetary policy adjustments. We will track the data as soon as possible tomorrow.
