SA’s CPI hit a 2.5 year high at 5.2% (YoY), moving above the 4.5% midpoint.New coronavirus cases in South Africa reached a 2-month high on June 21, 2021, at 9,160, with WHO planning to set up a vaccination hub in Africa.US mortgage applications increased 2.1% (Week-on-week) as well as refinancing. The USD/ZAR pair traded at a -0.43% price change on June 23, 2021, from the … [Read more...] about USD/ZAR Pair Loses on South Africa’s Inflation Data
Forex News
US Private Sector Eases to a 2-Month Low. Manufacturing PMI on Record High
Source: IHS Markit US private sector expansion softened in June, with activity index hitting a 2-month low of 64.8, down from 70.4 in May. DXY is down -0.03%, SPY is up +0.054%, QQQ is up +0.15%. Overall, the Composite PMI Output Index fell from 68.7 in May to 63.9 in June as expansion continued, albeit at a slower rate.Manufacturing PMI hit a series record of 62.6 … [Read more...] about US Private Sector Eases to a 2-Month Low. Manufacturing PMI on Record High
New Home Sales Hits 12-Month Low in May
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
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%
