Source: US Labor Department American jobless claims continued to decline for the fourth straight week, hitting the lowest level since the COVID-19 pandemic hit. DXY is up 0.30%, while Gold is down 0.31%. Seasonally adjusted initial claims for the week ending August 14 fell 29,000 to 348,000. This is the lowest since the level stood at 256,000 on March 14, 2020.The … [Read more...] about US Unemployment Claims Down for Fourth Straight Week to Fresh Pandemic Low
Forex News
Fed Officials Indicate Possible Tapering This Year
Source: Federal Reserve Officials of the Federal Open Market Committee have judged that the current conditions could warrant the reduction of the Federal Reserve’s bond-buying program. VFH is down 0.82% premarket. Minutes of the July meeting indicated that most officials were of the view that asset purchases could be tapered down as early as this year.Officials defended … [Read more...] about Fed Officials Indicate Possible Tapering This Year
GBPNZD Analysis: Pair Breaks Above 2.0000 As NZ Enters Into Lockdown
The GBP was boosted by a 0.8% increase in the PPI input for July 2021 (MoM) from a 0.5% rise in June 2021. UK house prices rose at an average of 13.2% in the year ended June 2021. The Reserve Bank of New Zealand (RBNZ) maintained the official cash rate (OCR) position at 0.25% after a Covid-19 case was realized. The GBPNZD pair gained 0.71% as of 4:41 pm GMT on … [Read more...] about GBPNZD Analysis: Pair Breaks Above 2.0000 As NZ Enters Into Lockdown
July Housing Starts Slid 7.0% from June but Rose 2.5% YOY
Source: U.S. Department of Commerce Privately-owned housing starts in July were at a seasonally adjusted annual rate of 1,534,000, 7% below the revised June estimate of 1,650,000 but 2.5% above the July 2020 rate. DXY down -0.03%, EUR USD up +0.05%. Single-family housing starts in July decreased by 4.5% to 1,111,000 compared to the revised June figure of … [Read more...] about July Housing Starts Slid 7.0% from June but Rose 2.5% YOY
New Home Mortgage Applications Down 27.4% YoY in July-MBA
Source: Mortgage Bankers Association Mortgage applications for new home purchases in July 2021 dropped 27.4% from the same month last year. DXY down -0.02%, EUR USD up +0.04% Compared to June 2021, applications dropped by 4%. The change does not include an adjustment for typical seasonal patterns.Joel Kan, MBA’s associate, stated that homebuilders still faced increased … [Read more...] about New Home Mortgage Applications Down 27.4% YoY in July-MBA
