Source: Halifax House prices in the United Kingdom posted a slight rebound in July, but pointed to a cooling market as annual growth fell to the lowest level in four months. Average house prices stood at £261,221, up from £260,099 in June and £242,684 in July 2020.The latest reading indicates a 0.4% increase month-on-month, after the 0.6% decline recorded in June.Annual … [Read more...] about UK Housing Price Growth Cools to Four-Month Low in July
Forex News
American Businesses Want to Restart US-China Trade Talks
Source: WSJ Over 30 influential American business groups called on the government to restart trade talks with China, seeking lower tariffs on imports which hamper economic growth. The business groups proposed in a letter addressed to US Trade Representative Katherine Tai and Treasury Secretary Janet Yellen.The firms believe China has already complied with benchmarks and … [Read more...] about American Businesses Want to Restart US-China Trade Talks
USDCAD: Trade Surplus Boosts the Loonie as US COVID-19 Cases Surge
US trade balance (deficit) for June 2021 rose 6.62% (MoM) to -$75.70 billion from a previous record of -$71.00 billion. Canada’s exports jumped 8.74% to C$53.76 in June 2021, causing the trade balance to rise to C$3.23 billion. As of August 4, 2021, new Covid-19 cases in the US had risen to 112,270, the sharpest rise since April 15, 2021. The USDCAD pair lost 0.42% … [Read more...] about USDCAD: Trade Surplus Boosts the Loonie as US COVID-19 Cases Surge
US Jobless Claims Down for Second Straight Week
Source: US Labor Department American unemployment claims continued to drop to mark the second straight week the level was below 400,000. DXY is down 0.06%, gold is down 0.48%. Seasonally adjusted initial claims for the week ending July 30 fell 14,000 to 385,000.The previous week’s level was revised slightly lower to 400,000 from 399,000.The four-week moving average stood … [Read more...] about US Jobless Claims Down for Second Straight Week
Bank of England Keeps Banks Rate Unchanged — Will Only Tighten if Inflation Target is Met
Source: Bank of England The Bank of England’s Monetary Policy Committee on Thursday decided to keep the bank rate and bond-buying program unchanged, even as inflation is poised to temporarily breach the 2% target. The MPC unanimously voted to maintain the Bank Rate at 0.1%.The committee also decided to keep the bond-buying program at £890 billion — £875 billion for … [Read more...] about Bank of England Keeps Banks Rate Unchanged — Will Only Tighten if Inflation Target is Met
