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US housing market frozen – will a rate cut fix it?

Housing sale data is flowing through to the FED and at first glance, things don’t look great.

Pending home sales look to have dropped 5.5% to an all time low in July. With sale insights looking this poor, we’re left wondering perhaps the ‘higher rates for longer’ has actually started to work. Many components of the US economy still seem to be steaming ahead despite higher rates, so to see the housing market start to splutter could be the signs the FED have been waiting for to start monetary easing.

We’re thinking the timing of the rate cuts in mid September are very quickly going to be used to political advantage. Both democrats and republicans will be finding communication methods to twist monetary policy into their campaigns, and whether each party manages to keep their policy promises (or not) rate cuts will shape the style of leadership we’re likely to see for the next term of presidency.

Gold is sitting confidently around its all time high at time of writing and with its RSI also sitting at 61 – still has some capacity to move higher into the coming week.

Enjoy today’s forecasts.

US housing market frozen - will a rate cut fix it? Insights US housing market frozen - will a rate cut fix it?
US housing market frozen - will a rate cut fix it? Insights US housing market frozen - will a rate cut fix it?
US housing market frozen - will a rate cut fix it? Insights US housing market frozen - will a rate cut fix it?

Gold Futures monthly analysis continues to recommend a STRONG BUY with Weekly analysis a BUY signal.

Technical indicators – Monthly Projections

RSI(14)Overbought
STOCH(9,6)Buy
STOCHRSI(14)Overbought
MACD(12,26)Buy
ADX(14)Buy
Williams %ROverbought
CCI(14)Buy
ATR(14)High Volatility 
Highs/Lows(14)Buy
Ultimate OscillatorBuy
ROCBuy
Bull/Bear Power(13)Buy


Summary for Monthly forecast: Strong Buy

*Not financial advice, please DYOR prior to any investment decisions you make.

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