Source: Office for National Statistics Britain’s retail sales fell unexpectedly in February despite the easing of COVID-19 restrictions as the cost of the living crisis started to hurt households. FTSE 100 up +0.36%, GBPUSD up +0.02% Online shopping fell back towards pre-pandemic levels as winter storms kept people away from the high street, and spending at food and drink … [Read more...] about UK Retail Sales Plunge 0.3% on Cost of Living Crisis
Forex News
Germany’s Ifo Business Climate Index Plummets to 90.8 Points in March
Source: Ifo Institute The Ifo business climate index was posted at 90.8 points in March, scaling down from 98.5 points in February, as the war in Ukraine dampened sentiment. DAX is up +0.43%, EURUSD is up +0.08%. The expectations index dropped by a record 13.3 points, exceeding the decline of 11.8 points posted at the onset of the coronavirus in March 2020.The … [Read more...] about Germany’s Ifo Business Climate Index Plummets to 90.8 Points in March
US Mortgage Rates Climb to Three-year High 4.42%
Source: Bloomberg United States mortgage rates continued to climb further, reaching the highest level in over three years. XHB is down 1.19%, while ITB is down 1.32%. The 30-year average loan rate jumped to 4.42% from 4.16% in the past week, reaching the highest level since January 2019.The 30-year monthly payment on a $300,000 loan now stands at $1,506, up from the … [Read more...] about US Mortgage Rates Climb to Three-year High 4.42%
US Private Sector Growth Hits Eight-Month High in March
Source: Markit Economics The private sector in the United States expanded by an eight-month high in March, as firms recorded growth in activity upturns during the month. QQQ is up 0.56%. The headline Flash US PMI Composite Output Index increased to 55.9 in March from 58.5, reflecting its fastest expansion rate since July 2021.Firms recorded more new orders, driven mainly … [Read more...] about US Private Sector Growth Hits Eight-Month High in March
US Trade Deficit Fell by $2.0 Billion in the Fourth Quarter of 2021
Source: Bureau of Economic Analysis The current account deficit gauging the trade balances on goods and services and income flows in the US closed the fourth quarter of 2021 at $217.9 billion, down 0.9% or $2.0 billion. SPY is up +0.53%, DXY is up +0.28%. Following the decline in trade deficit, the balances are now 3.6% of the gross domestic product in current-dollar … [Read more...] about US Trade Deficit Fell by $2.0 Billion in the Fourth Quarter of 2021
