Source: Eurostat Inflation was estimated to have jumped to a fresh record of 7.5% in the euro area in April, from 7.4% the previous month. DAX is up +0.82%, EURUSD is up +0.28%. The energy was the main driver of the annual inflation in April, with a surge of 38%, although the gain was lower compared to an increase of 44.4% in March.Inflation in the food, alcohol, & … [Read more...] about Euro Area’s Annual Inflation Hits a New Record 7.5% In April
Forex News
Eurozone, EU Economic Growth Accelerate in First Quarter
Source: Eurostat The eurozone and the European Union opened the year with faster economic growth, with positive growth rates recorded in all countries covered. EZU closed up 1.67%, while VGK is up 0.22% premarket. Seasonally adjusted economic growth posted an annual increase of 5.0% in the eurozone, up from 4.7% in the fourth quarter but lower than the 14.6% in the same … [Read more...] about Eurozone, EU Economic Growth Accelerate in First Quarter
UK House Prices Sustain Double-Digit Growth in April
Source: Nationwide Building Society House prices in the United Kingdom continued to post double-digit annual growth in April, albeit at a slower pace than seen in the previous month. IUKP is up 0.74%, while XHB is up 0.36%. The annual house price growth stood at 12.1% in April, slower than the 14.3% increase recorded in the previous month. The latest reading is the … [Read more...] about UK House Prices Sustain Double-Digit Growth in April
US Mortgage Rates Decline, But Remain at 12-Year Highs
Source: Bloomberg Mortgage rates in the United States posted a slight decline but continued to hover around 12-year highs. XHB is up 0.23%, ITB is up 1.12%. The average 30-year loan rate stood at 5.10%, slightly lower than the 5.11% recorded in the past week, according to Freddie Mac.The latest reading remains at historic highs, being the highest level recorded since … [Read more...] about US Mortgage Rates Decline, But Remain at 12-Year Highs
US Economy Contracts for First Time in Two Years
Source: Bureau of Economic Analysis The United States’ economy opened the year in a negative note, marking the first contraction since the COVID-19 pandemic hit. QQQ is up 0.49%, while SPY is up 0.24%. The real gross domestic product (GDP) contracted by 1.4% in the first quarter of 2022, following six straight quarters of expansion.The last contraction of the US economy … [Read more...] about US Economy Contracts for First Time in Two Years
