A sales center sign in front of a new residential community in Lithonia, Georgia, April 26, 2021. Elijah Nouvelage | Bloomberg | Getty Images After a Labor Day week lull, demand for mortgages rose sharply last week from homeowners and homebuyers. Total mortgage application volume was up nearly 5% for the week, according to the
Month: September 2021
Dollar initially dipped after FOMC overnight, but quickly found its footing. Overall market reaction was positive, but insufficient to alter the near term outlook. Sterling remains the worst performing one for the week while Swiss Franc is the strongest. Both will look into BoE and SNB policy decision today. Commodity currencies are on the softer
GBP/USD bounces off key support just above 1.3600. BOE may hint at tapering, follow Fed’s footsteps. Will the rebound sustain on the BOE rate decision? GBP/USD is bouncing off pivotal support just above the 1.3600 level, as the US dollar keeps shedding ground amid an improvement in the risk sentiment. The bulls are attempting the last
EUR/USD is trading up 0.2% to 1.1710 There was a whipsaw reaction to the Fed yesterday, where the pair climbed to a high of 1.1755 initially before falling back and even dropping below the 1.1700 level at the close. But amid lighter trading so far today, buyers are able to push their way back above
Daily thread to exchange ideas and to share your thoughts Fed taper? No problemo. Equities continue to shine as the market is feeding off calmer tones surrounding Evergrande as we carry on through the week. US futures are up 0.3% and that is keeping the overall mood steadier ahead of Europe. The dollar is little changed for
NEW DELHI: Gold and silver futures dipped on Thursday, following global trends after US Federal Reserve signalled easing its monthly bond purchases by next year and a sooner-than-expected interest rate hike. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
JP Morgan CEO Jamie Dimon looks on during the inauguration of the new French headquarters of US’ JP Morgan bank on June 29, 2021 in Paris. Michel Euler | AFP | Getty Images JPMorgan Chase CEO Jamie Dimon has warned investors that the Federal Reserve could still be forced into a sharp policy move next year — despite
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out of 5 PADDs. PADD2 (Midwest) alone
What you need to know on Thursday, September 23: The greenback ended Wednesday higher against most major rivals, as the US Federal Reserve was quite hawkish, hinting at clearer definitions on tapering timing in its upcoming November meeting. “If progress continues broadly as expected, the Committee judges that a moderation in the pace of asset purchases
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Trading app Robinhood has opened up a waitlist to test a crypto wallet for users to hold their tokens. According to a Wednesday blog post, in October Robinhood plans to start testing a digital wallet feature on its app that enables users to send and receive cryptocurrencies. The move may encourage more Robinhood users to
Key market levels ahead of the FOMC decision With about 6 minutes until the FOMC decision, a snapshot of the market currently shows Forex: The CAD is the strongest of the majors, while the JPY is the weakest. The USD is trading mixed with modest gains verse the JPY and more modest gains verse the CHF, GBP and near
This is playing out according to script The Fed is playing second fiddle to China today. Whether there’s a taper in November or December doesn’t matter. We get a nod that a taper is coming this year in the statement and that’s about all the hawks could have expected. The surprise came in the dot
New Delhi: Among the precious metals, silver has been underperforming consistently for sometime now. A record-breaking bull run in equities and a stronger dollar have diminished the lustre of the white metal quite a bit. Spot prices of silver were pinned around Rs 60,000 on Wednesday, before slipping to Rs 59,714 earlier this week, highlighting
Sales of previously owned homes declined 2% in August from July to a seasonally adjusted annualized rate of 5.88 million units, according to the National Association of Realtors. Sales were 1.5% lower than August 2020 for the first annual decline. Sales however are still above pre-pandemic levels. These numbers are a count of home closings
Markets have turned quiet today as focus is shifted to FOMC policy decisions. While a tapering announcement is highly unlikely, there are still prospects of hawkish surprises in the dot plot and the economic projections. In the currency markets, Sterling is currently the worst performing one for the week, followed by Kiwi and then Aussie.
Germany’s Ifo economic institute slash the country’s 2021 GDP growth forecast by 0.8 percentage points to 2.5% on Wednesday, in light of supply chain disruptions and slowing post-pandemic economic recovery. Additional details “Raises German 2022 growth forecast 0.8ppt to 5.1%.” “German economy to grow 1.5% in 2023.” “Sees German inflation at 3.0% in 2021, 2.3%
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