In a recent examination of U.S. economic data, October's new home sales reported a total of 737,000 units, surpassing the forecast of 716,000, although it reflects a decrease from the previous month's sales of 800,000. This suggests a potential cooling in the housing market that traders should monitor closely.
Additionally, inflation data for December revealed a steady inflation rate of 0.3% month-over-month, while the year-over-year inflation rate was recorded at 2.7%, consistent with forecasts and previous results. The core inflation rate month-over-month showed a slight decline to 0.2%, compared to a forecast of 0.3%, indicating potential issues in the underlying pricing pressures.
The ISM Services PMI also presented a robust figure of 54.4, significantly above the anticipated 52.2, demonstrating expansion in the services sector. However, job openings, as reported by JOLTs in November, fell short of expectations at 7.146 million, reflecting a tighter labor market.
FTMO encourages traders to utilize these economic indicators to inform their strategies in a volatile trading environment. Knowledge of these trends is crucial for making educated trading decisions and managing risk effectively.