Posted Apr 23, 23:30

Housing Worries, RBNZ Hikes

Trimmed Mean CPI (q/q) 0.5%
Weighted mean CPI (q/q) 0.6%
CPI (y/y) 2.9%
Trimmed Mean CPI (y/y) 2.6%
Weighted mean CPI (y/y) 2.7%
CPI Index Number 105.40
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15 hours ago: 

Uneasiness about US and Canadian housing could be going mainstream on fresh signs of weakness. On the day, the Swiss franc was the top performer while the Australian dollar lagged after the weak CPI print. The RBNZ hiked rates as widely expected and maintained a hawkish tone despite last week's soft inflation numbers. In today's new set of Premium Insights, a new USDJPY trade was added after the last 2 trades in the pair hit their final targets. EURUSD GBPUSD USDCAD USDCHF AUDNZD and gold trades are all in progress.

The big surprise on the day was the miss on US new home sales at 384K compared to 450K expected. Worries about the housing market are beginning to percolate after a series of misses and no signs of a spring thaw. We'll be keeping a close eye on how the story develops.

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PREMIUM INSIGHTS Update: Apr 23, 19:40
 
 
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Plunging US home sales not weather's fault Apr 23, 2014 18:30: 

Sales of new homes in the US plunged 14.5% in March to 384,000 annualized units, the lowest level in eight months. The 14.5% decline was the 3rd biggest monthly drop in 20 years, with the larger declines seen in July 2013 and May 2010 at -17.1% and -33.5% respectively. Full charts & analysis here

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China, Australia to Set the Tone Apr 22, 2014 23:28: 

Solid US data made for a choppy market as traders returned from a long weekend. The Aussie dollar was tops while the Canadian dollar lagged. Australian CPI and the Chinese manufacturing PMI are major events in the hours ahead.  Latest Premium Insights invilved 2 new trades in gold with 3 related charts, in addition to our longs in EURUSD, GBPUSD, USDCAD, USDCHF and AUDNZD.  A new set of Premium Trades will be added Wednesday. 

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