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US Housing Market Index Falls Short of Expectations in September
Confirmed
In Short: The US housing market index disappointed in September, underscoring concerns about the health of the real estate sector.
The US housing market index came in below expectations in September, reflecting a downturn in the sector. This development follows a strong August jobs report, which had initially triggered a hawkish stance from the Federal Reserve. Economists are growing increasingly concerned about the state of the property market, as evidenced by the latest index figures.
Delhi has maintained its position as the top performer in the India Electric Mobility Index (IEMI) 2025, followed closely by Maharashtra and Karnataka. The report notes that charging rollout and EV adoption are moving at different speeds across the country, indicating an uneven transition. The focus must shift from policy formulation to effective implementation, according to the report.
The Federal Reserve is expected to raise interest rates next week, with a 25-basis-point hike to 3.75%-4.00%, according to market expectations. This move is expected to lift borrowing costs to their highest level in over three decades. The US Dollar is under pressure, trading below both the 20-period and 100-period Simple Moving Averages, with the greenback supported by rising US yields and rate-hike expectations.
Geopolitical tensions between the US and Iran, coupled with a resilient US labor market, are keeping Federal Reserve tightening expectations elevated. These factors could weigh on Bitcoin prices, according to reports. The relative strength index (RSI) hovers near 30, indicating stretched but persistent bearish momentum in the market.
The Indian Express reports that Maharashtra and Karnataka are the only two large states to feature among the top performers in EV implementation. The other seven large states, including Chhattisgarh, West Bengal, and Bihar, are emerging performers with scores ranging from 35 to 49. The report also highlights that only three states and union territories qualify as top performers in transport electrification progress, which is assigned the highest weightage of 50% in the index calculation.
What's confirmed
- It provides a purely journalistic approach to the Forex market.
What's still developing
- Heading into the event, data showed a rather punchy US August jobs report, which, you will likely recall, triggered a hawkish Fed rate repricing in rates markets.
- The pair, however, remains below the mid-155.00s as bulls seem hesitant ahead of the Fed decision later today and the BoJ meeting, starting on Thursday.
- NITI Aayog developed the index in collaboration with WRI India.
- When compared to the 2024 index, Delhi and Maharashtra maintained the top two positions, while Karnataka moved to the third place after overtaking Chandigarh, while Goa climbed ten spots to secure fifth position.
- The index further shows that eight large states — Tamil Nadu, Madhya Pradesh, Odisha, Andhra Pradesh, Telangana, Haryana, Rajasthan, and Uttar Pradesh — have qualified as frontrunners, meaning they scored 50-64 out of 100.
- United States (US) Consumer Price Index (CPI) data held at 3.4% year on year in August, matching both July's reading and market expectations, according to the Bureau of Labor Statistics (BLS).
- In the daily chart, USD/JPY trades at 153.69, extending a corrective bearish phase with price lodged well below the 20-day Simple Moving Average (SMA) at 157.65 and the 100-day SMA at 159.68, which now frame a broad cap on any recovery attempts.
- Apple’s iPhone event will be held on September 9 at 10 am Pacific (1 pm Eastern), announced last week with the title “Surprise and Shine!” If you tune into the livestream, expect the announcement of an iPhone 18 Pro, 18 Pro Max, and, if all the rumors and widely held analyst expectations are true, the first look at an Apple foldable device.