Source: Bloomberg An indicator of the US dollar rallied to its best performance in nearly two years in line with the continued increase in Treasury yields. DXY is up 0.30%, while QQQ is down 1.02%. The Bloomberg Dollar Spot index inched up by 0.4%, overtaking the previous year-to-date high. The last time this level was seen was in July 2020.The greenback appreciated … [Read more...] about Dollar Grows to Strongest Level in Nearly Two Years
Forex News
US Wholesale Inventories Accelerate by 2.5% In February
Source: Census Bureau US total inventories at merchant wholesalers were $818.2 billion at the end of February, an increase of 2.5% from the previous month. SPY is down -0.22%, DXY is up +0.30%. The February wholesale inventories were 19.9% higher than the prior year, with the volume accelerating from an increase of 1.2% in January.The sales of the wholesale inventories … [Read more...] about US Wholesale Inventories Accelerate by 2.5% In February
US Mortgage Rates Rises to the Highest Since December 2018
Source: Bloomberg The average rate on the 30-year US mortgage was recorded at 4.72%, an increase from 4.67% last week. SPY is down -0.44%, DXY is up -0.02%. The mortgage rates have now risen for the fifth straight week, with the latest rate the highest since December 2018.The rise in mortgage costs has been reflected through falling loan demand, while the refinancing … [Read more...] about US Mortgage Rates Rises to the Highest Since December 2018
US Unemployment Claims Fall Back to 166,000
Source: US Labor Department US unemployment claims retreated in the last week of March, following the increase recorded in the previous week. DXY is down 0.04%, while Gold is up 0.34%. Seasonally adjusted initial claims fell by 5,000 to 166,000 from the previous week’s downward revised 171,000.The latest reading is equivalent to claims recorded in the week ending March … [Read more...] about US Unemployment Claims Fall Back to 166,000
Retail Sales Increase by a Marginal 0.3% In Euro Area and EU in February
Source: Eurostat The Euro area and EU posted a marginal 0.3% increase in retail sales in February, compared to a gain of 0.2% and 0.5%, respectively, in January. DAX is up +0.45%, EURUSD is down -0.01%. In the euro area, retail sales rose the highest in the automotive fuels category at 3.2% and 0.8% in non-food products. The sales fell by 0.5% in the foods, drinks, and … [Read more...] about Retail Sales Increase by a Marginal 0.3% In Euro Area and EU in February
