More good news from the housing sector: new home sales rise to 546K, better than expected. April’s number was revised up to 534K. All good. This is the highest since 2008 – 7 years. Revisions went back all the way to February. The revisions mean that the rise is only 2.2% m/m.
The dollar is on the rise, extending the gains that Powell generated.
Read the rest of the article New home sales jump to 546K – highest in 7 years