|15:30||GBP||Medium||BoEMPC Member Haldane Speaks|
|16:00||USD||HIGH||New Home Sales (Oct)||625K||667K|
|16:00||USD||Medium||New Home Sales (MoM)(Oct)||-6.3%||18.9%|
EXPLANATION OF THE ECONOMIC NEWS
- Bank of England (BoE) Monetary Policy Committee (MPC) Member Andy Haldane is to speak. BoE MPC members are responsible for setting the benchmark interest rate and their speeches often contain indications on the future possible direction of monetary policy.
- New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it’s released ahead of Existing Home Sales because the reports are tightly correlated. A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
- New Home Sales measures the change in percenatge of the new home sales, A new home sale is considered to be any deposit or contract signing either in the year the house was built or the year after it was built. A strong number would indicate a strong housing activity, and therefore a strong economy. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative