US Market Update

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Summary

US Market Update –  The dollar dipped following the weaker New Home Sales outcome, taking AUDUSD below 0.7500 key level while USDCAD traded today under its 50-day moving average (1.3482) for the first time since mid-April. The 11.4% April new home sales plunge to a 569k rate followed massive upward Q1 revisions that left a stronger than expected sales path despite the April pull-back, as mild weather pulled Q2 sales into Q1.