Source: NAR Sales of existing homes in the US reached an annual rate of 6.46 million in November, up 1.9% from October. SPY is up +0.29%, DXY is down 0.26%. The increase in existing home sales happened even as housing prices reached $353,900 in November, an increase of 13.9% from the prior year. House prices rose in all regions, with the South posting the highest … [Read more...] about Existing Homes Sales Surge 1.9% in November but Remain Short of 2020 Levels
Forex News
US GDP Cools to an Above-Estimate Growth After a 2.3% Jump in Q3 2021
Source: Bureau of Economic Analysis The US recorded an annual gross domestic increase of 2.3% in the third quarter, below the second quarter expansion of 6.7% but above the estimated 2.1%. DXY is down -0.26%, SPY is up +0.065%. The slowdowns in the third quarter GDP reflects an economic slowdown caused by the resurgence of Covid-19 infections.In current dollar terms, … [Read more...] about US GDP Cools to an Above-Estimate Growth After a 2.3% Jump in Q3 2021
Mortgage Applications Slip Even as Interest Rates Fall to Month Lows
Source: CNBC Mortgage application volumes declined in the past week, even as interest rates were cut down to the lowest level a month. XHB is up 0.24% premarket. The total mortgage application volume for the past week slipped by 0.6% from the previous week, data from the Mortgage Bankers Association showed.The average contract interest rate for the 30-year fixed-rate … [Read more...] about Mortgage Applications Slip Even as Interest Rates Fall to Month Lows
UK Third-Quarter Economic Growth Downgraded to 1.1%
Source: Office for National Statistics The United Kingdom’s third-quarter economic growth was revised lower to reflect a slower services output growth, along with a decline in production output. EWU is flat premarket. The third-quarter economic growth was downgraded to 1.1% from the earlier announced 1.3%, following an upward revised 5.4% in the second quarter.The latest … [Read more...] about UK Third-Quarter Economic Growth Downgraded to 1.1%
AUDUSD & NZDUSD Struggling for the Direction Amid Dollar Softness
USD Dollar steadies near 16-month highsAUDUSD bounce back stalls amid easing risk appetiteNZDUSD under pressure near one-year lows The US dollar is holding steady near 16-month highs supported by rising treasury yields and uncertainty being fuelled by the spread of the Omicron COVID-19 variant. The dollar index, which measures greenback strength against the majors, has … [Read more...] about AUDUSD & NZDUSD Struggling for the Direction Amid Dollar Softness
