U.S. December Manufacturing PMI registered 60.7%, up 3.2% from November reading of 57.5%, according to press release. The figure reflects an expansion in the overall economy for eight months in a row, offsetting contractions in March, April, and May. The New Orders Index was 67.9%, up 2.8% from November’s reading of 65.1%The Production Index was 64.8%, up 4% from … [Read more...] about U.S. Records 3.2% Rises in Manufacturing PMI in December
Forex News
Danes Will Get 20-Year 0% Mortgages
Denmark is offering homeowners 20-year loans at a fixed interest rate of zero, according to Bloomberg. Customers at the Danish home-finance unit of Nordea Bank Abo can now get mortgages that carry a lower coupon than benchmark U.S 10-year Treasuries. In 2012, Denmark drove their main rate below zero to defend the krone's peg to the euro, and since then, homeowners have … [Read more...] about Danes Will Get 20-Year 0% Mortgages
Pfizer Offers South Africa Discounted COVID-19 Vaccines
Pfizer and BioNTech SE offered to supply South Africa with COVID-19 vaccine at a discounted $10 a dose, according to Bloomberg. The price was worked out according to South Africa’s classification as a middle-income country. The price offered to South Africa is half of what the drugmakers are charging in the U.S. despite the president’s office terming it prohibitive.The … [Read more...] about Pfizer Offers South Africa Discounted COVID-19 Vaccines
Germany to Extend Coronavirus Curbs Despite Criticism over Vaccine Rollout
Germany officials will hold preliminary talks on Monday on extending stricter lockdown measures beyond January 10, according to Bloomberg. The lockdown measures include closing schools and non-essential stores even as the government faces criticism over the vaccination program's delays. Reports have held that authorities have agreed to prolong curbs until January 31The … [Read more...] about Germany to Extend Coronavirus Curbs Despite Criticism over Vaccine Rollout
U.S. Record-low Mortgage Rates Push House Affordability Unexpectedly Lower
U.S. home buyers needed to spend almost 30% of their average wage to afford a typical house in the fourth quarter, according to Bloomberg. The rate is the biggest share since 2008 despite borrowing costs hitting a record low of below 3% for a 30-year loan. Analysts link low mortgage rates to the fall in affordability as it spurred a buying frenzy, driving prices up as … [Read more...] about U.S. Record-low Mortgage Rates Push House Affordability Unexpectedly Lower
