Source: MBA A measure of applications to refinance a US home edged down last week to a three-year low, and filings to buy property fell by the most since mid-February as mortgages rate continued to surge. DXY down-0.02%, EURUSD up +0.09% The Mortgage Bankers Association’s refinancing index plummeted 9.9% in the week ended April to 1,166.3. The group’s measure of purchases … [Read more...] about US Home Refinancing Plunges to Three-Year Low as Rates Jump
Forex News
UK Construction Output Flat, Business Optimism Slips to 17-Month Low
Source: Markit Economics Construction output in the United Kingdom was unchanged in March from the previous month but remained at the fastest growth since June 2021. EWU is down 0.35% The Construction Purchasing Managers’ Index was recorded at 59.1 in March, unchanged from February. This is still the fastest growth since June last year.Respondents cited inflationary … [Read more...] about UK Construction Output Flat, Business Optimism Slips to 17-Month Low
Eurozone Construction Output Growth Drops to Five-Month Low in March
Source: Markit Economics Eurozone construction output growth fell to a five-month low in March as firms recorded inflationary concerns and uncertainties due to geopolitical tensions. EZU is down 1.59%, while VGK is flat premarket. The S&P Global Eurozone Construction Total Activity Index stood at 52.8 in March, down from 56.3 in February. This is the slowest expansion … [Read more...] about Eurozone Construction Output Growth Drops to Five-Month Low in March
Industrial Prices Cools to a 1.1% Increase in February in the Euro Area and EU
Source: Eurostat Industrial producer prices edged higher by 1.1% in both the EU and euro area in February, a slower gain compared to 5.0% and 5.1%, respectively, in January. DAX is down -1.95%, EURUSD is up +0.19%. In the euro area, intermediate goods saw the strongest surge in producer prices at 1.6%, followed by energy at 1.3%. Excluding energy, producer prices rose … [Read more...] about Industrial Prices Cools to a 1.1% Increase in February in the Euro Area and EU
Fed Governor Brainard Says ‘More Rapid’ Balance Sheet Reduction to Start in May
Source: Bloomberg The Federal Reserve is expected to cut down its balance sheet as soon as the next month, according to Governor Lael Brainard. QQQ is down 1.63%. Brainard, in a prepared speech, said the Federal Open Market Committee will start to shrink its balance sheet “at a rapid pace” as soon as its meeting next month.She said the balance sheet is expected to be … [Read more...] about Fed Governor Brainard Says ‘More Rapid’ Balance Sheet Reduction to Start in May
