Source: Financial Times The European Central Bank will push through with the gradual reduction of its bond-buying program in the third quarter, even with inflation outlook risks intensifying. EZU is down 0.33%, while VGK is down 0.31%. ECB President Christine Lagarde said upside risks to inflation have “intensified,” but this is seen to weaken if demand softens in the … [Read more...] about ECB to Continue With Gradual Winding Down of Bond-Buying Program in Q3
Forex News
Jobless Claims Climb to Five-Week High
Source: US Labor Department Unemployment claims in the United States rebounded in the first full week of April, hitting the highest level in five weeks. DXY is up 0.36%, while Gold is down 0.24%. Seasonally adjusted initial claims increased by 18,000 to 185,000 from the previous week’s upward revised level of 167,000. This is the highest since March 5’s 198,000.The … [Read more...] about Jobless Claims Climb to Five-Week High
US Producer Prices Rose by a Higher 1.4% in March from February
Source: Bureau of Labor Statistics The Producer Price Index in the US gained 1.4% in March, accelerating from an increase of 0.9% in February and 1.2% in January. SPY is up +0.55%, DXY is down -0.12%. Final demand for goods led to the rise in the producer prices in March, with a gain of 2.3% in March, the same as February. Final demand services saw a gain of 0.9%.More … [Read more...] about US Producer Prices Rose by a Higher 1.4% in March from February
US Home Loan Rates Jump to Highest Since November 2018
Source: Reuters US home loan interest rates climbed to a three-year low in the past week, with homebuyers rushing to make acquisitions before rates jump even higher. XHB is up 1.43%, while ITB is up 1.58%. The average contract rate for the 30-year fixed-rate mortgage climbed 5.13% in the week ending April 8, up from 4.90% the previous week.This is 1.5 percentage points … [Read more...] about US Home Loan Rates Jump to Highest Since November 2018
Commercial Crude Inventories Seen to Have Dropped to Eight-Year Low in Q1
Source: Energy Information Administration Commercial crude oil inventories in member countries of the Organization for Economic Co-operation and Development (OECD) are expected to have hit an eight-year low in the first quarter of the year. OIL is up 1.65%, while USO is up 1.58%. The EIA estimated that the commercial oil inventories in the OECD hit 2.61 billion barrels in … [Read more...] about Commercial Crude Inventories Seen to Have Dropped to Eight-Year Low in Q1
