Source: Bloomberg The People’s Bank of China has decided to slash the loan costs of its short-term policy loan a week after it reduced a key interest rate. MCHI is up 0.15% premarket. The PBOC trimmed the overnight standing lending rate by 10 basis points to 2.95% based on a central bank statement dated January 17.Both the seven-day and one-month rates were also cut down … [Read more...] about China Introduces More Rate Cuts as Country Moves to Boost Economy
Forex News
Great Britain Sales Close 2021 With Biggest Drop in 11 Months
Source: Office for National Statistics Great Britain retail sales declined by an 11-month high in December 2021, dragged mainly by the drop in non-food stores during the month. EWU is down 0.64%. Retail sales volumes for the month dropped by 3.7%, following the 1.0% growth in November and the 3.7% expansion in October.The latest figure reflects the steepest drop since … [Read more...] about Great Britain Sales Close 2021 With Biggest Drop in 11 Months
Existing Home Fall by 4.6% in Dec. But Close the Year in a 15-Year Record
Source: NAR The US posted a 4.6% decline in existing home sales in December which hit an annualized rate of 6.18 million, with the fall connected to supply chain issues. DXY is down -0.08%, SPY is up +1.19%. On a year-over-year basis, existing-home sales fell by 7.1% from an annualized rate of 6.65 million in the prior year.Despite the December decline, existing-home … [Read more...] about Existing Home Fall by 4.6% in Dec. But Close the Year in a 15-Year Record
US Manufacturing Improves Modestly in Jan. After Dec. Slump
Source: Federal Reserve Bank Philadelphia The diffusion index gauging the current general activity in the US rose by 8 points to 23.2 in January, recovering modestly from a decline of 24 points the previous month. SPY is up +0.76%, DXY is down -0.08%. Up to 31% of firms had increases in current activity in January, while 7% reported declines. 60% of firms posted no … [Read more...] about US Manufacturing Improves Modestly in Jan. After Dec. Slump
US Jobless Claims Climb for Third Straight Week
Source: US Labor Department Unemployment claims in the United States grew by 55,000 to mark the third straight week of growth. DXY is down 0.06%, while Gold is up 0.31%. Seasonally adjusted initial claims for the week ending January 15 stood at 286,000, up from the previous week’s upward revised level of 231,000.The four-week moving average increased by 20,000 to 231,000 … [Read more...] about US Jobless Claims Climb for Third Straight Week
