Oil has been exceptionally well since the March crash last year as the concerns about the spread of COVID-19 were intensifying. Look at the weekly Brent oil chart below. When the market recovered from the first correction, oil prices broke out above 44.00 and never looked back, providing no meaningful correction since then. On its way up, the market has managed to … [Read more...] about Oil Turning Point and the Setup in USD/CAD
Forex News
U.S. Unemployment Claims Fall to 712,000
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
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
