Week 25-2023 | Rating

Week 25-2023 | Chart

Week 25-2023 | News

10-Year Treasury Yield

U.S. Treasury yields were mostly lower Tuesday as investors looked to remarks from Federal Reserve officials for hints about upcoming monetary policy moves. The 10-year Treasury yield was last trading 6 basis points lower at 3.709%. The 2-year Treasury yield was last down 5 basis points at 4.672%. Yield and prices have an inverted relationship and one basis point equals 0.01%. Markets were closed Monday for the Juneteenth holiday.

At its latest monetary policy meeting last week, the central bank left rates unchanged for the first time since March 2022. However, in guidance issued alongside the rate decision, Fed officials indicated that they are expecting to hike rates twice more this year, by 25 basis points each time.

HMI Housing Market Index

A survey on Monday showed the National Association of Home Builders/Wells Fargo Housing Market index in June rose above the midpoint mark of 50 for the first time since July 2022 as a dearth of previously owned homes supported new construction. The index has rebounded by 77% since December. The latest reading was up 5 from last month to 55. This is the index's first positive reading (greater than 50) since July 2022 and is the sixth consecutive monthly increase. Builders are feeling cautiously optimistic about market conditions given low levels of existing home inventory and ongoing gradual improvements for supply chains. Consensus 50 and Actual 55.

Housing Starts

May U.S. housing starts beat expectations, with 1.63 million starts last month, according to the Census Bureau on Tuesday. That was higher than the 1.39 million housing starts expected by economists polled by Dow Jones. U.S. housing starts surge as builders rev up single-family home construction. Consensus 1.400 M and Actual 1.631 M.

Building Permits

Permits for future construction, for instance, rose 5.2% to the highest since October at 1.491 million units, led by a 27.1% surge in the Northeast. Permits for single-family projects rose 4.8% while multi-family were up 7.8%. Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades and permits for future construction also climbed, suggesting the housing market may be turning a corner after getting clobbered by Federal Reserve interest rate hikes.The U.S. also saw 1.49 million new building permits in May, higher than the forecasted 1.42 million.Building Permits. Consensus 1.433 Mand Actual 1.491 M.

MBA Purchase Applications

Weekly mortgage demand was flat, even as interest rates drop for the third straight week. Applications to refinance a home loan decreased 2% for the week and were 40% lower than the same week one year ago. Mortgage applications to purchase a home increased 2% for the week but were 32% lower than the same week a year ago. Homebuyers are starting to get used to higher interest rates, but the continued drop in new listings of homes for sale is keeping sales low. Federal Housing Administration demand rose more than conventional loan demand. Last week the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.73% from 6.77%. Applications to refinance a home loan fell 2% for the week and were 40% lower than the same week one year ago. Mortgage applications to purchase a home increased 2% for the week but were 32% lower than the same week a year ago.

Jobless Claims

Jobless claims jump in latest week to 261,000 — highest level since October 2021

Retail Sales

US retail sales tepid in May; manufacturing production surges. Retail sales gain 0.1% in May; April sales revised down. Core retail sales rise 0.4%; April sales revised lower. Manufacturing production surges 0.9%. U.S. retail sales barely rose in May and data for the prior month was revised considerably lower, suggesting that economic activity remained lackluster in the second quarter. The smaller-than-expected increase in retail sales reported by the Commerce Department on Tuesday, however, likely exaggerates the slowdown in consumer spending. Part of the decline in sales was because of lower gasoline prices, which weighed on receipts at service stations.

Current Account

mmmm

Exisitng Homes

U.S. existing-home prices register largest drop since December 2011

Leading Indicators

U.S. leading economic indicators fell in May for the 14th straight month.

PMI CompositeFlash

nnn

Mortgage Rates

The average rate on the popular 30-year fixed mortgage has come down somewhat from last November's high above 7%. It averaged 6.77% in the latest week, according to data from the Mortgage Bankers Association.

1. The material contained on our Website and Economic Calendar must be used at your own risk. Material is believed to be reliable, but we do not guarantee its accuracy or validity, nor is Tradingvestor.com responsible for any errors or omissions which may occur. The analysis and/or recommendations made by Tradingvestor.com do not provide, imply, or otherwise constitute a guarantee of performance. All contents and recommendations are based on data and sources believed to be reliable, but accuracy and completeness cannot be guaranteed. It should not be assumed that future results will be profitable or will equal past performance, real, indicated or implied.Tradingvestor.com website and material contained therein is not a solicitation to participate in the Futures/Stocks/Options Market. This Economic Calendar does not include Earning Releases, Announced Stock Splits, Upcoming Initial Public Offerings with Underwritings or Rating Changes. Tradingvestor.com has attempted to verify the information contained in this calendar. However, any aspect of such info may change without notice. Unless indicated otherwise: economic data is from the U.S and intraday data is at least 20 minutes delayed; all prices are in the local currency; Time is U.S. Eastern Time. Furthermore, there is a very high degree of risk involved in trading.Tradingvestor.com assumes no responsibilities for your trading and investment results, please red our Risk Disclosure.
   
   
2. Tradingvestor.com does not provide investment advice, and does not represent that any of the information or related analysis is accurate or complete at any time. All information on this website are for educational purposes only and are not intended to provide financial advice. Any statements about profits or income, expressed or implied, do not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold Tradingvestor.com and any authorized distributors of this information harmless in any and all ways. We respect your right to privacy, please click here to view our privacy policy.
   
   
3. U.S. Government Required Disclaimer - Commodity Futures Trading Commission.
   Futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
   
   
4. CFTC rule 4.41: Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown.
   
   
5. Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Our linking to these sites does not constitute an endorsement of any products, services or the information found on them. Once you link to another site you are subject to the policies of the new site. By using this site, you agree to the Terms of Service, Privacy Policy and Risk Disclosure. Copyright 2017 Tradingvestor, LLC. All rights reserved. If you have any questions regarding the Online Economic Calendar application, please contact us: click here.
   
   
   THIS BRIEF STATEMENT CANNOT, OF COURSE, DISCLOSE ALL THE RISKS AND OTHER ASPECTS OF THE COMMODITY MARKETS AND EQUITY MARKETS. PLEASE READ MORE AT: TERMS OF SERVICE.