IPA: /ˈnjuːliˌwɛd/
KK: /ˈnuːliˌwɛd/
A person who has recently gotten married.
The newlyweds went on a honeymoon to Hawaii.
Newlywed is formed from "new" (from Old English "niwe", meaning recent or fresh) and "wed" (from Old English "weddian", meaning to pledge or marry). The term describes someone who has recently entered into marriage.
Think of someone who is 'recent' ('new') in their 'marriage' ('wed') — that's what a newlywed is.
No commonly confused words.