Source: Eurostat The eurozone and the European Union both posted a deficit in terms of international trade in February, as imports outpaced exports during the month. EZU is up 1.62%, while VGK is up 0.99%. The eurozone international trade in goods deficit stood at €7.6 billion in February, reversing the €23.6-billion surplus recorded the same month in 2021.Exports to the … [Read more...] about Eurozone, EU Post Trade Deficit in February
Forex News
Japanese Yen Plunges to 20-Year Low, Ramping up Pressure on Loose Monetary Policy
The yen dropped to a new 20-year low as it fell for the 13th consecutive day, heightening the stakes for the Bank of Japan on whether to maintain its ultra-loose monetary policy stance. JPYUSD down -1.16%, Nikkei 225 up 0.69% The plunge in the yen ¥128 against the US dollar emerged as Tokyo Research Survey found that nearly 40% of the companies determined that yen weakness … [Read more...] about Japanese Yen Plunges to 20-Year Low, Ramping up Pressure on Loose Monetary Policy
US Residential Starts Climb to 16-Year High in March
Source: US Census Bureau Housing starts in the United States climbed for the second straight month in March, marking the highest level since 2006. XHB is up 2.78%, while ITB is up 2.77%. Residential starts for the month stood at 1.793 million, up 0.3% from February’s 1.788 million and 3.9% higher than March 2021’s 1.725 million.The latest level is the highest level in 16 … [Read more...] about US Residential Starts Climb to 16-Year High in March
Americans Expect Home Prices to Soar 7% Year-Ahead
Source: New York Fed One-year ahead, house prices are expected to rise by 7%, higher than the above 5.7% reading of last year. DJI is down -0.25%, DXY is up +0.21%. The house price gains are expected to go in tandem with rents, with an annual gain of 11.5%, with the number of renters expecting to own a home reported to be on a decline. The rents are expected to … [Read more...] about Americans Expect Home Prices to Soar 7% Year-Ahead
World Bank Expects Ukraine War to Pull Down Global Growth to 3.2% In 2022
Source: Bloomberg The World Bank now sees global growth at 3.2%, compared to its January projection of 4.1% due to the impacts of the Ukrainian war. DJI is up +0.14%, DAX is up +0.62%. The downgraded growth forecast comes even as the World Bank warned that its funding from the resulting impacts of the war will be $170 billion, higher than a package of $157 billion … [Read more...] about World Bank Expects Ukraine War to Pull Down Global Growth to 3.2% In 2022