Source: Office for National Statistics The UK current account deficit that excludes precious metals was 11.4 billion pounds in the fourth quarter of 2021, down from 26.1 billion in the previous quarter. FTSE 100 is down -0.20%, GBPUSD is up +0.05%. In the primary income account, the total current account balance was a surplus of 4.7 billion pounds or 0.8% of GDP, the … [Read more...] about UK Current Account Deficit Narrows to £11.4 Billion in Q4, GDP Improves by 1.3%
Forex News
China’s Lockdowns Hit Manufacturing in March
Source: National Bureau of Statistics China’s purchasing managers’ indexes slipped in March, dragged by the shutdown of its technology and trade and automotive centers. MCHI is down 1.48% premarket. The Comprehensive PMI Output Index for the month stood at 48.8, down from 51.2 in February and 55.3 in March 2021.The Manufacturing Purchasing Managers’ Index was recorded at … [Read more...] about China’s Lockdowns Hit Manufacturing in March
British House Prices Surge 14.3% in February, the Strongest Annual Pace in 17 Years
Source: Nationwide House prices have jumped 14.3% over the past year, with property inflation reaching its highest level since 2004. FTSE100 down -0.065%, GBPUSD down -0.07% The average home prices have risen by £33,000 in the last 12 months to a record of £265,312. House prices rose by 1.1% or £5,000 in March.Robert Gardner, chief economist at Nationwide, stated that … [Read more...] about British House Prices Surge 14.3% in February, the Strongest Annual Pace in 17 Years
US Mortgage Rates Climb by Decade-High to Historic 4.8%
Source: Reuters Mortgage rates in the United States grew at the fastest pace in over a decade in the past week, with investors repositioning for more rate hikes by the Federal Reserve. XHB is down 1.86%, while ITB is down 1.07%. Data from the Mortgage Bankers Association (MBA) showed that the 30-year fixed-rate mortgage rate increased to 4.8% in the week ending March 25, … [Read more...] about US Mortgage Rates Climb by Decade-High to Historic 4.8%
US Fourth-Quarter 2021 GDP Growth Downgraded to 6.9%
Source: Bureau of Economic Analysis The United States’ economic growth in the fourth quarter of 2021 was slightly downgraded, reflecting changes in personal spending. QQQ is down 0.41%. Fourth-quarter 2021 gross domestic product growth was revised downward to 6.9%, from the 7.0% announced by the government earlier.The changes were made as personal consumption expenditures … [Read more...] about US Fourth-Quarter 2021 GDP Growth Downgraded to 6.9%
