Forex News

Source: Halifax Average house prices in the UK hit 260,358 pounds in June, after plunging by 0.5%. FTSE 100 is up +0.40%, GBPUSD is up +0.32%. June’s decline in house prices was the first since January as the UK continued to phase out the stamp duty holiday. On a quarterly basis, average house prices in the UK surged by 2.9%. Annual house price inflation eased … [Read more...] about UK House Prices Cools by 0.5% in June on Expiring Stamp Duty Holiday

Source: Bloomberg China will sell more metal stockpiles in the near term to curb the rising costs of raw materials and maintain market stability. CSI 300 is up +1.13%, USDCNY is down -0.30%. In its first sale, China released metal stockpiles that included 50,000 tons of aluminum, 30,000 tons of zinc, and 20,000 tons of copper.The released metal stockpiles were sold … [Read more...] about Relentless China Seeks More Metal Sales to Tame Material Prices

Source: Institute of Supply Management US Services PMI cooled to an expansion of 60.1% in June, after shedding 3.9 percentage points from a record 64% in May. SPY is down -0.64%, QQQ is up +0.10%, DXY is up +0.30% Business Activity Index was 60.4% in June, a 5.8% plunge from May, but representing expansion for the 13th month in a row.The Supplier Deliveries Index fell by … [Read more...] about Services Sector Up for the 13th Consecutive Month amid Slowdowns from May

Source: Eurostat Retail trade in both the euro area and the European Union rebounded in May, driven mainly by non-food items and automotive fuels. The seasonally adjusted volume of retail trade climbed 4.6% month-on-month in both the euro area in May. Retail trade fell 3.9% in the euro area and 3.6% in the EU in April.Year-on-year, retail trade climbed 9.0% in the euro … [Read more...] about Euro Area, EU Retail Trade Rebound in May

Source: IHS Markit The Eurozone economy continued its recovery, with the Composite Output Index hitting a 15-year year high of 59.5 in June, from 57.1 in May. EURUSD is up +0.01%, DAX is down -0.036%. The composite output in June was the fourth consecutive month the index has hit the 50.0 markThe jump in output index reflected growth in manufacturing output and an … [Read more...] about Eurozone Recoveries Pushes Composite Output Index to a 15-Year High