The US durable goods orders report for March is due at the bottom of the hour. It's the first look at industrial strength following the outbreak of war in the Ukraine and the corresponding commodity jump. The consensus for capital goods orders non-defense ex-air is +0.5% and that will be the metric to watch in the report.
At 9 am ET (1300 GMT) we get Case-Shiller and the FHFA. The main housing release comes an hour later with new home sales. I'm also monitoring comments from DR Horton today (largest US home builder) after reporting earnings.
"“Housing market conditions remain strong despite the rise in mortgage rates, as we continue to experience homebuyer demand that exceeds our pace of supply. We are still selling homes later in the construction cycle to better ensure the certainty of the home close date for our homebuyers, and we are continuing to work to stabilize and then reduce our construction cycle times to historical norms," the company said.
The company lowered its estimate of homes closed to 88-90K from 90-92K this year.
Also at 10 am ET, we get the Richmond Fed for April.
