U.S. seasonal unemployment claims dropped to 712,000 last week as restrictions across the country were eased, according to data released by the Department of Labor. The previous week's level was revised higher to 754,000, bringing the four-week average to 759,000 versus the previous week's average of 793,000.The advance seasonally adjusted insured unemployment rate was 2.9% … [Read more...] about U.S. Unemployment Claims Fall to 712,000
Forex News
Mortgage Loan Applications Plummet As Rates Climb
Mortgage refinance applications descended by 43% last week versus the same week in 2021, according to the Mortgage Bankers Association's seasonally adjusted index. The latest data is the first year-on-year drop since March 8, 2019. Mortgage rates plunged in 2020 on COVID-19 fears, driving a spike in refinance demand.Applications last week fell 5% from the previous week. The … [Read more...] about Mortgage Loan Applications Plummet As Rates Climb
U.S. Inflation Clocks In Slower Than Forecast In February
The U.S. core consumer price index rose 0.1% in February to fall below market expectations and signal that pressures remain tame, according to Bureau of Labor Statistics data. The core consumer price index which excludes volatile items, increased 1.3% from a year earlier. Growth was reported in the indexes for shelter, recreation, medical care, and motor vehicle … [Read more...] about U.S. Inflation Clocks In Slower Than Forecast In February
Equity Futures Jump On Inflation Data
U.S. equity futures jumped after economic data suggested that inflation pressures remain tame. S&P 500 Futures climbed 0.3% as of 8:46 a.m. New York time; the Stoxx Europe 600 grew 0.3%; the MSCI Asia Pacific rose 0.4%; and the MSCI Emerging Market Index gained 0.8%.U.S. 10-year Treasuries rose to 1.55%; Germany's 10-year yield fell to -0.31%; Britain's 10-year yield … [Read more...] about Equity Futures Jump On Inflation Data
China Producer Prices Climb to Two-Year Highs, Spurring Global Inflation Risks
The Chinese producer price index rose to 1.7% in February to surpass expectations and mark the fastest pace in over two years, official data showed. Economists predicted the index to increase 1.5% last month from 0.3% in January.The latest data raises expectations of higher global prices as factories hike prices for exports. Chinese producer prices have already been a major … [Read more...] about China Producer Prices Climb to Two-Year Highs, Spurring Global Inflation Risks
