Source: ACEA The EU posted a 16.4% decline in sales of new commercial vehicles in October, with all major segments recording a slump. DAX is down -3.34%, EURUSD is up +0.82%. All of the EU’s largest markets posted a decline in vehicle registrations, with Spain down by 32.7%, Germany fell by 24.3%, while France and Italy had a 23.3% and 22.9% slip in activity, … [Read more...] about Sales of New Commercial Vehicles in the EU Plummet by 16.4% in October
Forex News
NZDUSD Forecast As RBNZ and Fed Policies Converge
The NZDUSD pair remained in a bearish trend as investors reflected on the Reserve Bank of New Zealand (RBNZ) decision and the country’s reopening plans. It is trading at a key support level at 0.6880, where it has struggled moving below before. RBNZ interest rate decision The RBNZ delivered a relatively hawkish interest rate decision on Wednesday. As was widely expected, … [Read more...] about NZDUSD Forecast As RBNZ and Fed Policies Converge
Germany’s GDP Surges by 1.7% in the Third Quarter of 2021
Source: Destatis Germany’s gross domestic product increased by 1.7% in the third quarter, lower than a gain of 2.0% in the previous quarter. DAX is up +0.40%, EURUSD is up +0.24%. The third quarter GDP was 2.5% higher than the comparable period of 2020. The GDP had increased by 10.4% in the second quarter from the prior year.The uptick in GDP was fueled by robust … [Read more...] about Germany’s GDP Surges by 1.7% in the Third Quarter of 2021
US Consumers Less Upbeat as Confidence Falls to the Lowest in a Decade
Source: University of Michigan The Index of Consumer Sentiment in the US was 67.4 in November, a decline of 6.0% from the previous month, and 12.4% below last year. SPY is up +0.051%, DXY is up +0.39% The consumer sentiment reflected the lowest level of optimism in the past decade. Consumers’ optimism was dampened by worries over personal finances and the overall economy … [Read more...] about US Consumers Less Upbeat as Confidence Falls to the Lowest in a Decade
Sales of New Homes Rises by 0.4% in October
Source: Census Bureau US sales of new single-family houses increased by 0.4% in October to 745,000. The house sales were 23.1% below the October 2020 level. SPY is down 0.058%, DXY is up 0.44%. In October, the houses were sold at a median price of $407,700, with the average price at $477,800.About 389,000 new houses were estimated to be on sale at the end of October, … [Read more...] about Sales of New Homes Rises by 0.4% in October
