Source: US Census Bureau Housing starts in the United States climbed for the second straight month in March, marking the highest level since 2006. XHB is up 2.78%, while ITB is up 2.77%. Residential starts for the month stood at 1.793 million, up 0.3% from February’s 1.788 million and 3.9% higher than March 2021’s 1.725 million.The latest level is the highest level in 16 … [Read more...] about US Residential Starts Climb to 16-Year High in March
Forex News
Americans Expect Home Prices to Soar 7% Year-Ahead
Source: New York Fed One-year ahead, house prices are expected to rise by 7%, higher than the above 5.7% reading of last year. DJI is down -0.25%, DXY is up +0.21%. The house price gains are expected to go in tandem with rents, with an annual gain of 11.5%, with the number of renters expecting to own a home reported to be on a decline. The rents are expected to … [Read more...] about Americans Expect Home Prices to Soar 7% Year-Ahead
World Bank Expects Ukraine War to Pull Down Global Growth to 3.2% In 2022
Source: Bloomberg The World Bank now sees global growth at 3.2%, compared to its January projection of 4.1% due to the impacts of the Ukrainian war. DJI is up +0.14%, DAX is up +0.62%. The downgraded growth forecast comes even as the World Bank warned that its funding from the resulting impacts of the war will be $170 billion, higher than a package of $157 billion … [Read more...] about World Bank Expects Ukraine War to Pull Down Global Growth to 3.2% In 2022
China’s First-Quarter GDP Beats Forecast, Growing 4.8% Year-on-Year
Source: National Bureau of Statistics of China China’s Q1 GDP rose faster than anticipated despite the impact of Covid-19 lockdowns in some cities in March. CSI 300 Index down -0.53%, CNY USD up +0.09% First-quarter GDP jumped by 4.8%, surpassing expectations of 4.4%, rising from a prior year.Fixed asset investment for Q1 jumped by 9.3% from a year ago, surpassing … [Read more...] about China’s First-Quarter GDP Beats Forecast, Growing 4.8% Year-on-Year
US Industrial Production Rises by 0.9%, the Third Straight Month of Increases
Source: Federal Reserve Industrial production in the US increased by 0.9% in March, the third straight month of advances, but slower than 1.2% in February. SPY is down -1.25%, DXY is up +0.18%. Following the February gains, the industrial output maintained an 8.1% elevation in the first quarter compared to the prior year. The index was 5.5% above the prior-year level.The … [Read more...] about US Industrial Production Rises by 0.9%, the Third Straight Month of Increases
