Source: S&P Global Home prices in the United States climbed by nearly 20% year on year in February, reflecting a faster pace than that seen in the previous month. XHB is down 0.33%, while ITB is up 0.78%. The S&P CoreLogic Case-Shiller US National Home Price NSA Index climbed by 19.8% in February, faster than the 19.1% recorded in January.The 10-City Composite … [Read more...] about US Home Prices Jump Almost 20% in February
Forex News
US Durable Goods Misses Estimates after Rising by 0.8% in March
Source: Census Bureau The US recorded $275 billion in new orders of durable goods in March, up by 0.8% or $2.3 billion from the prior month. The orders missed estimates of a 1% increase. SPY is down -0.63%, DXY is up +0.23%. The increase in the durable goods orders happens after a slump of 1.7% in February. Excluding transportation, durable goods saw a 1.1% increase in … [Read more...] about US Durable Goods Misses Estimates after Rising by 0.8% in March
UK Public Sector Borrowing Declines in March, But Stays Within Historic Highs
Source: Office for National Statistics Public sector net borrowing declined year-on-year in March but remained among historic highs. EWU is down 0.55%, while EZU is flat premarket. Public sector net borrowing excluding public sector banks (PSNB) was at £18.1 billion in March, £8.8 billion lower than in March last year.The latest reading is the second-highest March … [Read more...] about UK Public Sector Borrowing Declines in March, But Stays Within Historic Highs
China Cuts Forex Reserve Ratio as Yuan Weakens to 17-Month Low
Source: Bloomberg The People’s Bank of China has cut down its foreign currency holdings reserves following the significant depreciation of the yuan against the greenback. MCHI is down 2.91%, while KWEB is down 1.43%. The PBOC said the reserve requirement for foreign currency holdings will be slashed to 8% starting May 15 from the current level of 9%.The decline seeks to … [Read more...] about China Cuts Forex Reserve Ratio as Yuan Weakens to 17-Month Low
German Business Climate Rebounds Slightly in April
Source: Ifo German business climate posted a slight rebound in April, with firms less pessimistic about the coming months. EWG is down 0.96%, while DAX is up 1.77% premarket. The German business climate index stood at 91.8 in April, up from 90.8 in March but still lower than the 96.4 recorded in the same month last year.The indicator for the current situation posted … [Read more...] about German Business Climate Rebounds Slightly in April