Source: Freddie Mac US mortgage rates declined for the fourth straight week to mark the lowest level in over five months, as COVID-19 concerns hit economic growth. VNQ is down 1.03%, while SCHH is down 1.07%. The 30-year fixed-rate mortgage averaged 2.78% for the week ending July 22. This is the lowest since February 11’s 2.73%.The 15-year fixed-rate mortgage stood at … [Read more...] about US Mortgage Rates Fall For Fourth Straight Week
Forex News
American Unemployment Claims Climb More Than Expected to Hit Two-Month High
Source: US Labor Department US jobless claims climbed more than expected in the past week, hitting the highest level in two months. DXY is down 0.15%, while Gold is down 0.03%. Seasonally adjusted initial claims increased by 51,000 to 419,000 in the week ending July 17. This is above the 350,000 expected, and the highest since May 15’s 444,000.The previous week’s level … [Read more...] about American Unemployment Claims Climb More Than Expected to Hit Two-Month High
Fed Faces a Bond Tapering Decision Dilemma ahead of Next Week’s Meeting
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
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
