Existing Home Sales data for March to be Disclosed Today

Existing Home Sales data for March to be Disclosed Today

The market is anticipating the release of Existing Home Sales data, which will be made by the National Association of Realtors on Friday at 14:00 GMT. Financial experts are forecasting that 4.18 million secondary housing sales will be done for March when the previous release of the indicator was 4.38 M. With the release of the indicator, the US real estate market could be evaluated. 

If there is a decline in the readings of the indicator, it will have a negative effect on the US dollar quotes. Therefore, the market participants who are trading in the currency and those related to the housing sector of the market are suggested to be alert during the announcement of the indicator before making significant market decisions. 

According to the National Association of Realtors, existing home sales in February 2024 increased 9.5% from January but remained 3.3% lower than a year before.

Announcement of Initial Jobless Claims

The US Department of Labor will be revealing the Initial Jobless Claims on Friday at 12:30 GMT and market participants who are related to the labour sector of the market and those trading in the American currency are advised to be vigilant during the announcement of the Initial Jobless Claims. From the previously released data of the indicator of 211000, now the economists are predicting them to be 197000.

The CPI of Japan to be Declared

The market participants who are dealing with the Japanese Yen currency pair are advised to be alert during the release of the Consumer Price Index (CPI), which will be disclosed by the Statistics Bureau on Friday at 23:30 GMT. The estimated figure of the indicator is 2.5%. However, when it was released on 21st Mar 2024 at 23:30 GMT, it stood at 2.8% in place of the forecasted 1.9%.