Source: WSJ The US Federal Reserve will use next week’s meeting to discuss when and how quickly to taper bond purchases as economic recovery picks steam. SPY is down -0.039% on premarket, DXY is down -0.12%. Fed officials are expected to receive formal staff briefings when they meet next week on how to go about the bond tapering. Fed’s Powell is likely to build a … [Read more...] about Fed Faces a Bond Tapering Decision Dilemma ahead of Next Week’s Meeting
Forex News
ECB Commits 1.85 Trillion Euro Bond Purchases. Keeps Rate Unchanged
Source: European Central Bank The European Central Bank will purchase 1.85 trillion euros or $2.2 trillion of bonds until March 2022. EURUSD is down -0.11%, DAX is up +0.92%. The central bank’s Governing Council left the main deposit facility rate unchanged at -0.5%.The benchmark refinancing rate was maintained at 0% while the marginal lending facility remained at … [Read more...] about ECB Commits 1.85 Trillion Euro Bond Purchases. Keeps Rate Unchanged
US Trade with China at its Fastest Rate amid Tensions and Covid Impacts
Source: Bloomberg US-China trade in goods is now at the fastest rate in years, defying long standing tariff wars and Covid-19 pandemic impacts. USDCNY is down -0.03% On a monthly basis, two-way trade between the two countries fell to $19 billion in February 2020, but has rebounded to new records in the past year.Currently, about half of the $259 billion goods from … [Read more...] about US Trade with China at its Fastest Rate amid Tensions and Covid Impacts
Mortgage Applications Plunge 4.0% amid Concerns of Costly Housing
Source: Mortgage Bankers Association US mortgage application volume plunged by 4.0% for the week that ended July 16, 2021 as concerns of higher prices and limited inventory crawled back into the market. XHB is up +0.75%. The Refinance Index fell by 3% from. the previous week, remaining 18% lower than the same week a year ago. The refinance share of mortgages was … [Read more...] about Mortgage Applications Plunge 4.0% amid Concerns of Costly Housing
China Lures Foreign Firms With Improved Market Access Requirements
Source: Reuters China is luring more foreign firms to enter its financial markets, amid its ongoing spat with the United States. GXC is up 0.37%, CQQQ is up 1.21%. Chinese state media said the country will ease requirements for foreign banks and insurance companies entering the second-biggest economy.Regulations on cross-border transactions between parent firms and their … [Read more...] about China Lures Foreign Firms With Improved Market Access Requirements
