Source: European Central Bank The eurozone opened the year with a stable current account surplus, as its credit and debit grew at the same rate. EZU is up 0.77% and VGK flat premarket. The current account surplus stood at €23 billion in January, unchanged from December and lower than the €38-billion surplus the same month last year.Debit grew to €393 billion from €386 … [Read more...] about Eurozone Current Account Surplus Stays at €23 Billion in January
Forex News
Construction Production Improves by 3.9% In the Euro Area and EU in Jan.
Source: Eurostat Production in construction in the euro area and EU increased by 3.9% in January 2022, compared to a decline of 1.5% and 1.2% in December, respectively. DAX is up +0.64%, EURUSD is up +0.01%. Building construction increased by 4.2% in January from December in the euro area, while civil engineering output rose by 1.4%. In the EU, building construction rose … [Read more...] about Construction Production Improves by 3.9% In the Euro Area and EU in Jan.
US Yield Curve Falls to Flattest in Over Three Years Against UK Counterpart
Source: Bloomberg The US yield curve was the flattest in over three years versus its counterpart in the United Kingdom, with the Federal Reserve adopting a more hawkish stance than in its British counterpart. QQQ is up 0.09%, while EWU is up 0.27%. Yields on the 10-year bonds in the United Kingdom grew by 10 basis points, stretching the gap with the two-year bonds to 31 … [Read more...] about US Yield Curve Falls to Flattest in Over Three Years Against UK Counterpart
China Commits Strong Monetary Policy Support to Prop Up Economy
Source: Bloomberg The Chinese cabinet has vowed stronger monetary policy support in a bid to continue the stable expansion of credit as the country seeks to support the economy moving forward. MCHI is down 4.32%. The cabinet said it will keep policies that boost the economy and keep away from measures that will dampen market sentiment.Officials noted the need to observe … [Read more...] about China Commits Strong Monetary Policy Support to Prop Up Economy
American Existing-Home Sales Slip by 7.2%
Source: National Association of Realtors Existing-home sales in the United States fell in February, with prices impacting the ability of prospective buyers to make acquisitions. XHB is down 0.65%, and ITB down 0.63%. Seasonally adjusted existing-home sales stood at 6.02 million in February, down 7.2% from the month earlier and 2.4% from the same month in the previous … [Read more...] about American Existing-Home Sales Slip by 7.2%
