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US data stream getting stronger - ANZ

FXStreet (Delhi) – Research Team at ANZ, note that the US posted strong existing home sales numbers in yesterday’s session while the initial jobless claims rose modestly.

Key Quotes

“US Existing home sales were stronger than expected, rising 4.7% m/m in September taking the annual pace of sales to 5.55m (mkt: 5.39m). This result unwinds the sharp decline recorded in August, with the upward trend in existing home sales remaining firmly intact. Meanwhile, the Kansas City Fed manufacturing survey improved to -1 (mkt: -9) in October from -8.”

“US Initial jobless claims rose modestly to 259k (mkt: 265k) from 256k last week. However, the four-week moving average declined to 263k from 265k – hitting a fresh post-1973 low. The low levels of jobless claims remains consistent with solid employment growth and further declines in the unemployment rate moving forward.”

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