Source: Office for National Statistics The United Kingdom saw a rebound in retail sales volumes in January, driven mainly by the growth in non-food stores and automotive fuel sales. VGK was down 0.77% after-hours. Volumes for the month increased by 1.9% in January, following the 4.0% drop recorded in the previous month.Volumes were 3.6% higher than the levels recorded in … [Read more...] about UK Retail Sales Rebound on Automotive Fuel, Home Improvement Growth
Forex News
US Manufacturing Edges Lower in February, but Firms Remain Optimistic
Source: Federal Reserve Bank of Philadelphia The diffusion index gauging the current activity in US manufacturing fell 7 points to 16.0 in February, with 63% of firms reporting no change inactivity. SPY is down -1.23%, DXY is down -0.06%. Only 26% of firms reported gains in current activity in February, with about 10% pointing to declines.The new orders index fell 4 … [Read more...] about US Manufacturing Edges Lower in February, but Firms Remain Optimistic
US Housing Starts Fall 4.1% in January as Overall Permits Rise Slowly
Source: Census Bureau The US recorded a 4.1% slump in privately-owned housing starts which hit 1.638 million in January. SPY is down 0.64%, DXY is up +0.01%. Despite the drop, housing starts in January were still 0.8% higher than the same month of 2021.The decline in housing starts happens even as overall authorizations improved marginally by a monthly 0.7% to … [Read more...] about US Housing Starts Fall 4.1% in January as Overall Permits Rise Slowly
US Unemployment Claims Climb for First Time in Four Weeks
Source: US Labor Department American jobless claims increased by 23,000, marking the first increase in four weeks. DXY is up 0.08%, while Gold is up 1.40%. Seasonally adjusted initial claims for the week ending February 12 grew to 248,000 from the previous week’s upward revised level of 225,000.This is the first growth recorded in four weeks since unemployment claims grew … [Read more...] about US Unemployment Claims Climb for First Time in Four Weeks
Builder Sentiment Drops to Lowest Level in Four Months
Source: NAHB Builder sentiment declined to a four-month low in February, as material issues impacted construction prices and project timelines. XHB is down 0.43%, while ITB is down 0.70%. Builder confidence for newly-built single-family homes fell to 82 in February, down from 83 in January and 84 in February last year.The latest reading is the lowest in four months since … [Read more...] about Builder Sentiment Drops to Lowest Level in Four Months
