Follow the Data (E27)

This week we have important data coming in on homes selling at a faster rate for the month of April, with new home sales falling by 4.7% from March to April. The decrease in new home sales has raised concerns among analysts, who are closely monitoring this trend. Additionally, initial jobless claims declined by 8,000, with 215k initial jobless claims reported last week. The decrease in jobless claims is a positive sign for the economy and has been well-received by market participants. As we progress through the week, it is crucial to pay attention to the appreciation data for March and pending home sales on Thursday. These indicators will provide valuable insights into the current state of the housing market. Furthermore, GDP will be released on Thursday, and market observers are eagerly awaiting this data for a comprehensive understanding of economic performance. Following the GDP release, the Core PCE price index will also be disclosed, adding another layer of information for market participants to analyze. This week's economic calendar is packed with significant releases, shaping the market sentiment and guiding investment decisions. Stay tuned for further updates as these key events unfold.