Source: Richmond Fed Manufacturing in the fifth district extended its expansion streak in April, but firms expect a slowdown in the next six months. QQQ is down 2.45%, while SPY is down 1.60%. The composite manufacturing index was recorded at 14 in April, higher than the 13 in March and 1 in February.The indicator for shipments jumped to 17 from 9, while capacity … [Read more...] about Fifth District Manufacturing Continues Expansion, But Deterioration Seen
Forex News
US Home Prices Jump Almost 20% in February
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
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
