Forex News

NZDUSD rallies to one-month highs.Dollar softens as yields retreat. Rate hike talk in New Zealand Impact. The New Zealand dollar started the week on a strong footing strengthening across the board amid growing expectations that the Reserve Bank of New Zealand will hike interest rates next month. The NZDUSD pair has since powered through the 0.7100 handle to one-month … [Read more...] about NZDUSD Bulls Eye 0.7200 Amid Dollar Weakness

Source: NAHB Builder sentiment climbed to a three-month high in October as demand and sales remained strong, despite the ongoing supply chain constraints. XHB is up 1.03%The NAHB/Wells Fargo National and Regional Housing Market Index stood at 80 in October. This compares with 76 in September and 85 a year ago.The latest reading is the highest in three months, equivalent to … [Read more...] about Builder Sentiment Jumps to Three-Month High Amid Sustained Demand

Source: Federal Reserve Industrial production declined for the second straight month in September, dragged by the lingering effects of Hurricane Ida. Industrial production fell 1.3%, following the 1% decline in August. The annual growth stood at 4.6%.Manufacturing output fell 0.7% during the month, after the 0.4% drop in August. Annual growth was at 4.8%.Production of … [Read more...] about Industrial Production Slips for Second Month in a Row

Source: Rightmove Property prices in Great Britain have surged in October, with all market sectors and regions hitting new record highs for the month. Prices of property jumped by an average of 1.8% or £5,983 in October. This is the highest percentage monthly rise for the month since October 2015.The average asking price for the month stood at £344,445, up from £338,462 … [Read more...] about Great Britain House Prices Grow by Historic Highs in October

Source: Bloomberg OPEC and its allies again have failed to produce enough oil to meet their output goals, intensifying the supply deficit as the world rebounds from the COVID-19. CL! up +0.67% OPEC+ cut its production target by 15% lower than initially planned in September, compared with 16% in August and 9% in July.  The situation reflects the inability of some … [Read more...] about OPEC+ Again Struggles to Pump More Oil to Meet Set Output Goals