American New Home Sales Firms Up | DZHI - DZH International 
logo

American New Home Sales Firms Up

  • DAR Wong
  • 2 July 2018

Fundamental Outlook   The U.S. GDP grows at slower pace while jobless claims rises. Japan climbs in housing starts amid consumer prices improve. As largest economy in Eurozone, Germany slowdown in pace and worries investors. 

The U.S. new home sales rose 689,000 in May and higher than previous month. Conference Board of consumer confidence grew 126.4 in June and lower than forecast, after May expanded at revised 128.8.

The U.S. durable goods shrank 0.6 percent in May and improved from minus 1.6 percent revised in April. Excluding transportation, core durable goods slid 0.3 percent and first time falling into negative zone in 4 months. The final GDP for Q1 seasons rose 2.0 percent and below forecast.

American jobless claims climbed to 227,000 in the week ended 23 June and higher than previous week. Personal income stayed flat at 0.4 percent in May while consumer spending grew 0.2 percent, below expectation.

Japan’s core consumer prices climbed 0.5 percent in June on year basis and in-line with May data. Another report on retail sale rose 0.6 percent in May on year basis and lowest record for past 7 months. 

Japan’s housing starts rose 1.3 percent in May from a year ago, above forecast. Tokyo core consumer prices expanded 0.7 percent in June and highest in 3 months.

German ifo business climate grows 101.8 in June, dropping for 5th consecutive month. Prelim consumer prices missed forecast and grew 0.1 percent, lowest in 5 months’ record. Another report on retail sales slid 2.1 percent in May and against positive forecast, after April registered 1.6 percent growth.

British current account deficits narrowed to GBP17.7 billion in April from GBP19.5 billion in previous month. Final GDP grew 0.2 percent in Q1 seasons and performed better than consensus.

 

Technical Forecast   USD/JPY climbed higher last week after tested the support at 109.50 area. This week, we foresee the market may test 111.50 resistance before moving back into consolidation. Range bound trading is expected but breaking beyond the aforementioned range needs proper risk control if the trend is adversity to your position.

EUR/USD has shown firm support at 1.1530 region after tested few rounds. This week, we reckon the trend might recover after past weeks of falling sentiment. Range is projected to reach 1.1830 in case of continual short-covering in market. Caution is advised if the trend whipsaws without clear direction.

GBP/USD reversed on Friday from 1.3050 bottom. The market is expected to climb higher in coming week in-line with Euro. Technically, we predict the resistance will emerge at 1.3350 region in case of recovery. The signal of recovery in Euro and Pound may indicate Dollar receding in near future.  

 

Disclaimer: This article is written for general information only. No liability by the writer, publisher or any third party involved in the distribution of this work.

DAR Wong is a registered fund manager in Singapore with 27 years of global trading experiences. You may reach him at dar@pwforex.com


About the Author
DAR Wong (Singapore)
An international speaker with 27 years of trading experience in the global financial markets, DAR is a Market Master and author of “Living Daylight in Stock Market: Monetizing Your Profits in 8 Days”.

DAR Wong is an active market trader, registered fund manager, educator and author.He began his career in 1989 as an institutional Futures trader with Bank of America. DAR Wong specializes in trading global derivatives and financial markets. He has 26 years of experience accumulated through tenure with Bankers Trust, Barclays Bank, Citigroup (Smith Barney Shearson Inc) and as an independent trader.

DAR is the author of “8 Ways to Invest in China’s Emerging Market” and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional traders and active investors.

He is a popular and sought after international speaker who has presented to financial professionals and investors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China, Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East (UAE).

DAR is registered with NASD (now known as FINRA) series 3 and 5 as approved by National Futures Association (NFA) of USA and holds a current portfolio as Fund Strategist and Advisor with Dektos Investment registered with Monetary Authority of Singapore.

DAR is profiled as “One of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading “. In January 2015, DAR was honored with Outstanding Award for International Financial Market Analysis granted by ASEAN Commerce (Thailand).

DAR is the author of "8 Waysto Invest in China's Emerging Market" and contributes frequently to regional media, including financial TV/Radio programmes, newspapers and magazines for professional tradersand active investors.1

He is a popular and sought after international speaker who has presented to financialprofessionals and inverstors throughout the region including Singapore, Malaysia, Indonesia, Thailand, Hong Kong, China,Cambodia, Myanmar, Philippines, Sri Lanka, India, South Korea, Laos, Vietnam, United Kingdom and Middle East(UAE).2


Year
2003 - Set up ASPRI to provide hedging advisory for corporate clients and training for financial professionals
2009 - Released first book “8 Ways to Invest in China’s Emerging Market”
2010 - Profiled as “one of the most successful traders – Market Masters” in Brent Penfold’s bestselling book “The Universal Principles of Successful Trading” along with Larry Williams, Andrea Unger, Michael Cook, and Daryl Guppy etc
2011 - Received “Spirit of Enterprise”awarded by Singapore Management University in Singapore
2012 - Honored with Individual Diamond Career (Thailand) awardedby Royal Privy Council of Kingdom of Thailand
2013 - Appointed Vice Chairman of ASEAN-China Commerce Association and led a delegationtothe annual China-Asean Expo in Guangxi Province, China
2014 - Fund Manager cum Director in Dektos Investment Corporation registered with Monetary Authority of Singapore
2015 - Released new book “Living Daylight in Stock Market - Monetizing Your Profits in 8 Days” in January
2015 - Honored with Outstanding Award in International Financial Market Analysis awarded by ASEAN Commerce (Thailand)
2016 - Honored with Medal of Integrity by Royal Councilin Palace of Palembng, Indonesia

References

1.TV programs on ChannelNewsAsia (Singapore);Radio on 95.8 Capital (Singapore); Newspapers such as The Borneo Post (Malaysia), 资汇报 (Malaysia); Regional financial magazines such as The Analyst (India), 东盟商界(ASEAN, China), 资本杂志 (Malaysia).

2.Spoke at events for CME Group, Euronext LIFFE, Tokyo Commodity Exchange, Singapore Exchange, Korea Exchange, Bursa Malaysia, Thailand Futures Exchange, Jakarta Futures Exchange, Indonesia Commodity and Derivatives Exchange, Tokyo Commodity Exchange, Interactive Brokers, Xinhu Futures, Hangzhou Money Fair, China (Shenzhen) International Finance Expo, China (Guangzhou) International Finance Expo, Euromoney, CIMB, Maybank, RHB, UOB Bank, Asia Trader & Investor Convention, Global Rubber Conference, International Rubber Conference, Malaysia Rubber Board, International Rubber Research and Development Board,Malaysia Ministry of Agriculture, Rubber Industry Smallholders Development Authority, Vietnam Rubber Association, Cambodian Rubber Association, Bureau of Agriculture Research Philippines, Myanmar Rubber Planters & Producers Association etc.


Articles:

Materials: