Key U.S. data preview - Nomura

Analysts at Nomura noted the U.S. data coming up and offered a preview.

Key Quotes:

"Weekly chain store sales: In the latest week, retail activity dipped following the Mother’s Day shopping spree. Looking ahead, seasonal business and Memorial Day holiday shopping should prop up consumer spending.

New home sales: Based on data for new homes, such as homebuilder sentiment, single-family housing starts and building permits, we expect sales to be on an uptrend in the coming months. As such, we forecast that new home sales rose by 2.5% to an annualized 524k in April (Consensus: 521k). Homebuilders will likely need to ramp up construction to replenish the short supply of for-sale homes, as we expect continued robust demand due to improving consumer fundamentals and pent-up demand."