Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development Sales of new single-family houses in the United States dropped by 5.9% in May to mark the worst performance in a year. The seasonally adjusted annual sales rate stood at 769,000. This is the lowest since May 2020's 704,000.There were 330,000 new houses for sale during the month, the most since … [Read more...] about New Home Sales Hits 12-Month Low in May
Forex News
Reopening of Economy Sees Eurozone Business Activity Expand the Quickest in 15 Years
Source: IHS Markit Press Release The Eurozone business activity index in June accelerated the fastest in 15 years from 57.1 in May to 59.2 in June. EURUSD is up 0.11%, DAX is down 0.49% Prices of goods and services went up at an unmatched rate as demand exceeded supply.Despite increased employment rate over the last 3 years, June witnessed increased backlog work leading … [Read more...] about Reopening of Economy Sees Eurozone Business Activity Expand the Quickest in 15 Years
Strong Housing and Job Market Decrease Forbearance Loans to 3.93%
Source: Mortgage Bankers Association The Mortgage Bankers Association survey revealed forbearance loans went down 11 basis points from 4.04% to 3.93%. SP500 is up 0.51%, SPDR Homebuilders ETF is up 0.41% According to the report, almost 2 million homeowners are in forbearance terms.Fannie Mae and Freddie Mac loans in forbearance went down 4 basis points to stand at … [Read more...] about Strong Housing and Job Market Decrease Forbearance Loans to 3.93%
ECB’s Deposit Rate To Rise Over One Basis Point Over A Year As Recovery Takes Shape
Source: Bloomberg Eonia swaps have shown that European Central Bank’s rates will go up by over one basis point in a years’ time. EURUSD is up 0.16% The rise will be the highest reading in more than two years, further from six months back when the market was set for 10 basis points of easing.The change in expectations is fueled by optimism of economic recovery as … [Read more...] about ECB’s Deposit Rate To Rise Over One Basis Point Over A Year As Recovery Takes Shape
On-demand Aluminum Dislodges Copper As The Second-Best Performer On LME
Prices of aluminum have surged more than 21% this year, enabling it to overtake copper as the second-best gainer on London Metal Exchange. Aluminum futures are currently up +0.56%. HG1! is up +1.46%. With 18% gain, copper now trails aluminum as the second-best performer to leading metal tin, which has surged 48% this year. The gains in aluminum have been fueled by a … [Read more...] about On-demand Aluminum Dislodges Copper As The Second-Best Performer On LME
