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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
US housing price index unexpectedly fell in May
In the US, the housing price index registered an unexpected drop of 0.30% on a MoM basis in May, compared to a revised rise of 0.10% in the previous month. Markets were expecting the housing price index to record a rise of 0.30%.
US existing home sales climbed less than expected in June
In the US, existing home sales jumped 20.70% on a MoM basis in June, compared to a drop of 9.70% in the prior month. Markets were expecting existing home sales to record a surge of 24.50%.
US number of mortgage applications rose in the week ended 17 July 2020
In the US, the number of mortgage applications advanced 4.10% on a weekly basis in the week ended 17 July 2020, compared to a rise of 5.10% in the previous week.
Australian business confidence index unexpectedly dropped in 2Q 2020
In Australia, the business confidence index recorded an unexpected drop to a level of -15.00 in 2Q 2020, compared to a revised reading of -12.00 in the prior quarter. Markets were anticipating the business confidence index to climb to a level of -8.00.
Canadian CPI climbed more than expected in June
In Canada, the consumer price index (CPI) registered a rise of 0.70% on a YoY basis in June, compared to a drop of 0.40% in the previous month. Markets were expecting the CPI to record an advance of 0.30%.
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