Source: CNBC Mortgage applications posted double-digit declines in the past week, as demand waned with the continued increase in interest rates. XHB is up 0.67% premarket. Mortgage applications to purchase a home in the past week recorded a 10% decline from the previous week and a 12% drop from the previous year.Applications to refinance a home loan slipped 7% from the … [Read more...] about Mortgage Applications Slip as Interest Rates Grow
Forex News
Labor Shortage, Inflation Drag Small Business Sentiment to 11-Month Low
Source: National Federation of Independent Business Small business confidence in the United States plunged to the lowest level in 11 months in January, dragged by staffing concerns and materials inflation. The Small Business Optimism Index stood at 97.1 in January, reflecting a 1.8 point decline. This is the lowest level since February 2021.The decline was on the back of … [Read more...] about Labor Shortage, Inflation Drag Small Business Sentiment to 11-Month Low
US Trade Deficit Jumps 1.8% in December to Close the Year at a Record-High
Source: Bureau of Economic Analysis The US trade deficit rose by 1.8% or $1.4 billion in December to $80.7 billion, with the shortfall fueled by a higher rise in imports. SPY is down -0.14%, DXY is up +0.19%. Imports rose 1.6% to $308.9 billion, higher than a 1.5% increase in exports, which tapped $228.1 billion in the last month of the year.The December deficit … [Read more...] about US Trade Deficit Jumps 1.8% in December to Close the Year at a Record-High
UK House Prices Soar to Hit New Record of £276,759 in January
Source: Halifax British house prices have surged to record highs last month, but the cost of living squeeze signals a possible slowdown this year. FTSE 100 up +0.31%, GBP USD down -0.13% In January, the average UK house price expanded to a new record high of £276,759. That figure is nearly £24,500 higher than the same period last year and £37,500 higher than two years ago … [Read more...] about UK House Prices Soar to Hit New Record of £276,759 in January
US Nonfarm Payroll Growth Cools for Second Straight Month
Source: Bureau of Labor Statistics Nonfarm payrolls in the United States added fewer for the second straight month in January, bringing the unemployment rate slightly higher. DXY is up 0.26%, while Gold is down 0.47%. Total nonfarm payroll employment rose by 467,000 in January, lower than the 510,000 jobs added in December 2021 and 520,000 added in January last … [Read more...] about US Nonfarm Payroll Growth Cools for Second Straight Month
