Unexpected Drop in April Durable Goods Orders Led by Transportation Equipment
New orders for capital and durable goods produced in the US dropped more than expected in April, supporting the view that the economy is slowing after an anomalous Q1 GDP boost.
Initial Jobless Claims Fall Unexpectedly in April, Gold Prices Rise
The number of US citizens filing for unemployment benefits dropped to 211,000 vs. 215,000 expected for the week ended May 18, according to the Labor Department. While the economy may be losing some momentum, the labor market continues to show signs of strength.
Home Sales Fall Despite Lower Mortgage Rates
The housing market continues to show signs of weakness with the latest report revealing a decrease in home sales for the month of April. Home sales have now declined for 14 months in a row.
Gold Price Continues to Tick Downward as Consumer Sentiment Hits 15-Year High
US consumer sentiment is at the highest level in 15 years according to the results of the University of Michigan Consumer Sentiment Survey released on Friday. The index rose to 104.2 in May, outperforming all market expectations.
Gold Price Faces Selling Pressure as Jobless Claims Fall Below Expectations
The number of Americans filing applications for unemployment benefits fell more than expected last week with 212,000 applications vs. 220,000 expected. The labor market continues to show signs of strength, buoying up other sections of the US economy amid an ongoing trade war and a global economic slowdown.
Housing Starts Rise Above Expectations in April, Gold Price Drops
US homebuilding saw stronger than expected activity in April with a 5.7% rise in housing starts, with increases in both single-family and multi-family housing units. Data for the month before was also revised upward.
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