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Trading news
19 Sep 2017
US data reviewed: NAHB Housing fell to 64 - Nomura
Analysts at Nomura Review the only US data from overnight being the NAHB Housing market index.
Key Quotes:
"The NAHB housing market index fell to 64 in September, down from 67 in August, weaker than expectations (Nomura: 66, Consensus: 67). Both the present and future single-family sales indices fell moderately.
The index for prospective buyers traffic only declined slightly, with much of the decline concentrated in the Midwest and South regions. The NAHB chairman noted that the hurricane season was exacerbating home builders’ concerns about the availability of labor and building material costs.
However, consumer fundamentals remain strong for the housing market and we expect home builder sentiment to remain elevated in coming months as temporary effects from Hurricanes Harvey and Irma wane."