The GBPUSD pair held steady on Thursday morning as investors cheered the UK reopening plans and the latest strong economic data. It is trading at 1.3625, which was a few points above this week’s low of 1.3572. UK reopening plans In November last year, the Boris Johnson administration announced new measures to curb the spread of Omicron. The measures, known as Plan B had … [Read more...] about GBPUSD Prediction Ahead of UK Retail Sales Data
Forex News
Eurozone Inflation Surged to Record High, 5.0% in December
Source: Eurostat The euro area annual inflation rate was 5.0% in December 2021, a record high compared to 4.9% posted in November. Euro Stoxx 50 up +0.31%, EUR USD down -0.04% Energy prices were the biggest contributor, increasing by 25.9% year on year as the increase in gas and electricity prices hurt household budgets.Meanwhile, price pressures were broader than energy. … [Read more...] about Eurozone Inflation Surged to Record High, 5.0% in December
Housing Starts Defy Expected Decline to Jump by 1.4% in December
Source: Census Bureau US housing starts were posted at an annual rate of 1.702 million in December 2021, an increase of 1.4% from the previous month. SPY is up +0.47%, DXY is down -0.19%. The increase in housing starts beat forecasts as economists were expecting a rate fall to 1.650 million units in December. Compared to December 2020, housing starts rose 2.5%.About … [Read more...] about Housing Starts Defy Expected Decline to Jump by 1.4% in December
US Mortgage Rates Jump to Highest Levels in Almost 2 Years
Source: Mortgage Bankers Association The interest rate on home loans increased for a fourth consecutive week last week, with residential real estate borrowing costs being at the highest level in almost two years. DXY down -0.15%, EUR USD up +0.17% The Mortgage Bankers Association stated its weekly measure of the average contract rate on a 30-year, fixed-rate mortgage rose … [Read more...] about US Mortgage Rates Jump to Highest Levels in Almost 2 Years
UK Consumer Prices Grow at Fastest Pace in Almost Three Decades
Source: Office for National Statistics Consumer prices in the United Kingdom closed in 2021 with the highest growth in almost 30 years, still impacted by the COVID-19 lockdowns imposed in the previous year. EWU is up 0.12% premarket. Annual inflation clocked in at 5.4% in December 2021, up from 5.1% in November and 0.6% the same month in 2020. This is the highest since … [Read more...] about UK Consumer Prices Grow at Fastest Pace in Almost Three Decades
