Sunday, 18 October 2009

Unexpectedly improved

Lastly, the NAHB housing market index unexpectedly improved to 14 in April, beating expectations for an increase to 10 from 9 in March.The calendar for Thursday consists of weekly jobless claims, March housing starts, housing permits and Philadelphia Fed survey. Weekly jobless are seen creeping up to 655k from 654k. Housing starts in March are expected to decline to 550k units, down from 583k units, while housing permits are seen easing to 550k from 564k a month earlier. Lastly, the April Philadelphia Fed business survey is estimated to improve to minus 32 from minus 35 in March.

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