Source: Mortgage Bankers Association A key measure of mortgage loan application volume plunged to its lowest level in 22 years last week as Fed moves to cool the rate hike sensitive housing sector. DXY down -0.01%, EURUSD down -0.40% The MBA stated that its Market Composite Index, which comprises the purchase and refinances applications, dropped 6.5% on a seasonally … [Read more...] about US Mortgage Applications Plunges to 22-Year Low-MBA
Forex News
UK Home Prices Climb for 11th Straight Month, Rise to Record High
Source: Halifax Property prices in the United Kingdom continued to increase in May, marking the eleventh straight month of increases to hit fresh record highs. XHB was down 0.70%, while EZU was down 0.20% after hours. Average home prices in the UK increased by 1% or £2.857 in May from the previous month and 10.5% higher than the same month last year.The average price … [Read more...] about UK Home Prices Climb for 11th Straight Month, Rise to Record High
German Industrial Output Jumps by 0.7%, Lower-Than-Anticipated in April
Source: Federal Statistical Office German industrial production bounced back but rose less than anticipated in April as COVID restrictions and war in Ukraine hurt supply chains. DAX down -0.59%, EURUSD up +0.37% Industrial output increased by 0.7% in the month after an upwardly revised decline of 3.7% in March.Excluding energy and construction, production output rose by … [Read more...] about German Industrial Output Jumps by 0.7%, Lower-Than-Anticipated in April
US Trade Deficit Narrows as Exports Climb While Imports Decline
Source: Bureau of Economic Analysis The United States’ international trade deficit narrowed in April, as the country posted higher exports while cutting back imports. QQQ is up 0.69%, while SPY is up 0.39%. The goods and services deficit stood at $87.1 billion in April, $20.6 billion lower than the $107.7-billion deficit recorded in March.The latest reading reflects the … [Read more...] about US Trade Deficit Narrows as Exports Climb While Imports Decline
Eurozone Investor Confidence Improves, But Stays in Negative Territory
Source: Sentix Investor confidence in the eurozone posted an improvement in June, but remained in negative territory for the fourth straight month. EZU is down 0.95%, while VGK is down 0.77%. The sentix Economic Index stood at -15.8 in June, reflecting a 7-point improvement from -22.6 in May.The latest reading is the first increase seen after the declines recorded in May, … [Read more...] about Eurozone Investor Confidence Improves, But Stays in Negative Territory
