US dollar extends decline after poor pending home sales reading ...Middle East

The US dollar is at the lows of the day following the worst pending home sales report in three years. The 7.7% monthly drop in April highlights the sting of higher rates, particularly with Treasury yields jumping in the month.The market is struggling to figure out where the US consumer is. We've seen falling US consumer confidence for most of the year but this week's report was surprisingly strong. At the same time, large-ticket items are struggling and there is more talk of inventory piling up on auto lots.Electronics are also struggling but that could also be due to heavy buying during the pandemic.“The mix of macro factors continued to create a challenging sales environment for our cate

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Last updated : 30 May 2024 clock 05:28 PM

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US dollar extends decline after poor pending home sales reading ...Middle East

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