Source: Bloomberg Mortgage rates in the United States posted a slight decline but continued to hover around 12-year highs. XHB is up 0.23%, ITB is up 1.12%. The average 30-year loan rate stood at 5.10%, slightly lower than the 5.11% recorded in the past week, according to Freddie Mac.The latest reading remains at historic highs, being the highest level recorded since … [Read more...] about US Mortgage Rates Decline, But Remain at 12-Year Highs
Forex News
US Economy Contracts for First Time in Two Years
Source: Bureau of Economic Analysis The United States’ economy opened the year in a negative note, marking the first contraction since the COVID-19 pandemic hit. QQQ is up 0.49%, while SPY is up 0.24%. The real gross domestic product (GDP) contracted by 1.4% in the first quarter of 2022, following six straight quarters of expansion.The last contraction of the US economy … [Read more...] about US Economy Contracts for First Time in Two Years
US Jobless Claims Declined by 5,000 Last Week
Source: Department of Labor US jobless claims for the week that ended April 23 was 180,000, down by 5,000 from the previous week. DJI is up +0.44%, DXY is u +0.61%. On a four-week moving average, the jobless claims rose by 2,250 to 179,750.The continuing claims declined by 1,000 to 1.41 million. The claims were at the lowest since February 7, 1970.The initial claims … [Read more...] about US Jobless Claims Declined by 5,000 Last Week
US Sales of Pending Homes Plunge 1.2% in March as Rates Soar
Source: National Association of Realtors The index, gauging the sales of pending homes in the US, declined by 1.2% to 103.7 in March from the previous month. DJI is up +0.21%, DXY is up +0.73%. The pending sales have now fallen for the last five straight months, with the March declines taking transaction levels 8.2% lower than the previous year.NAR’s chief economist … [Read more...] about US Sales of Pending Homes Plunge 1.2% in March as Rates Soar
US Trade Deficit Widens by $19.0B in March
Source: Census Bureau The US recorded an international trade deficit of $125.3 billion in March, wider than a deficit of $106.3 billion in February. SPY is up +0.41% on premarket, DXY is up +0.65%. The rise in trade deficit reflected a higher jump in imports from $30.3 billion to $294.6 billion. Exports increased by $11.4 billion to $169.3 billion. The wholesale … [Read more...] about US Trade Deficit Widens by $19.0B in March
