Uneasiness about US and Canadian housing could be going mainstream on fresh signs of weakness. On the day, the Swiss franc was the top performer while the Australian dollar lagged after the weak CPI print. The RBNZ hiked rates as widely expected and maintained a hawkish tone despite last week's soft inflation numbers. In today's new set of Premium Insights, a new USDJPY trade was added after the last 2 trades in the pair hit their final targets. EURUSD GBPUSD USDCAD USDCHF AUDNZD and gold trades are all in progress.
The big surprise on the day was the miss on US new home sales at 384K compared to 450K expected. Worries about the housing market are beginning to percolate after a series of misses and no signs of a spring thaw. We'll be keeping a close eye on how the story develops.