Source: Halifax House prices in the United Kingdom posted a steep increase in April, marking the 10th straight month of growth. IUKP is down 2.76%, while XHB is flat premarket. House prices in the UK posted a monthly change of 1.1%, following the 1.5% in March and 1.4% in April 2021.Prices recorded an annual change of 10.8%, versus the 11.1% in the previous month and 8.3% … [Read more...] about UK House Prices Climb for 10th Straight Month
Forex News
US Unemployment Claims Climb to 11-Week High
Source: US Labor Department Jobless claims in the United States rebounded in the last week of April, hitting the highest level in 11 weeks. QQQ is down 3.97%, while SPY is down 2.84% Seasonally adjusted initial claims for the week ending April 30 stood at 200,000, marking an increase of 19,000 from the previous week’s 181,000.This is the highest reading in over two months … [Read more...] about US Unemployment Claims Climb to 11-Week High
US Labor Productivity Dives to Lowest in Nearly 75 Years
Source: Bureau of Labor Statistics Private-sector labor productivity opened the year with a 7.5% decline, marking the steepest dive in nearly 75 years. QQQ is down 4.34%, while SPY is down 3.12%. The latest drop is the biggest decline in quarterly productivity recorded since the third quarter of 1947 when the reading fell by 11.7%.The decline reflects the 2.4% drop seen … [Read more...] about US Labor Productivity Dives to Lowest in Nearly 75 Years
UK Services Growth Falls to Lowest for 2022
Source: Markit Economics Services in the United Kingdom continued to grow in April, albeit at the slowest pace seen so far this year. EWU is down 2.22%, while EZU is down 2.41%. The S&P Global/CIPS UK Services PMI Business Activity Index stood at 58.9 in April, down from 62.6 in March.The latest reading is the weakest expansion recorded in the United Kingdom since … [Read more...] about UK Services Growth Falls to Lowest for 2022
England Hikes Rates Anew as Inflation Continues to Mark Historic Highs
Source: Bank of England The Bank of England hiked its key policy rate by 25 basis points and hinted at the possibility of additional rates in the coming months. EWU is down 2.24%, while EZU is down 2.36%. The Bank of England raised its Bank Rate by 25 basis points to 1% from 0.75% in March, following the rate hikes implemented in December, February, and March.The central … [Read more...] about England Hikes Rates Anew as Inflation Continues to Mark Historic Highs
