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
Forex News
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
Beijing Sets July 29 as the Date for the Next Sale of Metal Stockpiles to Tame Prices
Source: Nasdaq China is set to sell an additional 170,000 metal stockpiles of copper, aluminum, and zinc from its state reserves on July 29. USDCNY is down -0.19%, CSI 300 is up +0.69%. The metal sales will comprise 30,000 tonnes of copper, 90,000 tonnes of aluminum, and 50,000 tonnes of zinc. The auction happens for the second time as Beijing aims to curtain the … [Read more...] about Beijing Sets July 29 as the Date for the Next Sale of Metal Stockpiles to Tame Prices
GBPNZD Analysis: Productivity Estimates Push the Pound Ahead of NZ Credit Card Transaction Report
MPC’s Prof. Haskel viewed labor and productivity as essential in developing monetary policy. The UK government is scheduled to release its net borrowing prospects in the public sector for June 2021 (MoM), which stood at £23.6 billion in May 2021. New Zealand’s credit card spending report stood at 27.2% in the prior reading. The GBPNZD pair added 0.48% as of 5:30 am … [Read more...] about GBPNZD Analysis: Productivity Estimates Push the Pound Ahead of NZ Credit Card Transaction Report
Building Permits Plunge by 5.1% in June amid Gains in Housing Starts
Source: Census Bureau The number of authorized private-owned houses in the US plunged at an annual rate of 5.1% in June from May to hit 1.598 million. SPY is up +0.24% on premarket, DXY is up +0.27%. The building permits in June were 23.3% above the rate in the comparable month of 2020.June housing starts rose by 6.3% from May to an annual rate of 1.643 million … [Read more...] about Building Permits Plunge by 5.1% in June amid Gains in Housing Starts
