Prior -3.1%Market index 193.0 vs 194.5 priorPurchase index 149.5 vs 149.9 priorRefinance index 408.4 vs 416.1 prior30-year mortgage rate 7.16% vs 7.09% priorMortgage applications continue to fall, this time largely due to a drop in refinancing activity. It's not a...
S&P 500 set to be put to the test later today
US futures are now trading flattish again after a light advance earlier. There are lingering jitters from China and despite a retreat in bond yields today, it isn't enough to really spur a push higher in stocks. That might be the tell for equities sentiment in...
Bitcoin Technical Analysis – Awaiting a catalyst
Bitcoin continues to surprise in light of many headwinds that range from economic issues in China and risks of higher rates if inflation remains stubbornly high given the resilience in the labour markets and consumer spending. Bitcoin Technical Analysis – Daily...
China concerns continue to linger in the market
The latest news out of China is that one of its biggest trust firms, Zhongrong International, has missed payments on dozens of investment products since late last month. That is raising further questions on financial sector troubles in the country, amid the...
Copper Technical Analysis – Watch what happens around this key trendline
Copper continues to be tightly correlated with what happens in China. In fact, we saw strong rallies following news of more policy support from the Chinese authorities, but the ugly economic data eventually prevailed on the sentiment and led to a big selloff....
Eurozone Q2 GDP second estimate +0.3% vs +0.3% q/q prelim
This matches the initial estimates and is a bit of a surprise given how downbeat the recent data is. Eurostat does note that there could be an outlier though, with Irish GDP jumping by 3.3% - driven by the taxation reasons, which is seeing an oversized impact among...
Eurozone June industrial production +0.5% vs -0.1% m/m expected
Prior +0.2%; revised to 0.0%This is a welcome beat and looking at the breakdown, it is largely driven by a rebound in energy production (+0.5%) which fell by over 2% in May. Meanwhile, there were falls observed in intermediate goods (-0.9%), capital goods (-0.7%),...
Sterling holds post-CPI gains for now
Cable is up 0.4% to 1.2456 and EUR/GBP is also seen down 0.2% to 0.8565 on the day currently. It points to decent albeit light gains for the pound after the UK CPI report earlier here. So, where does the pound go from here?For starters, the technicals aren't really...
UF AWARDS Global 2023 Nominations Are Drawing to a Close
Excitement is rising as the UF AWARDS Global 2023 Nomination Round is quickly coming to an end. With so many financial and fintech industry leaders battling for global recognition, the competition is tight.Setting the standard of global excellence in the financial...
[속보]정기예금보다 5% 더 240만원 개이득! 은행창구가서 이렇게만 하세요! 건강보험료 걱정도 싹 없습니다!]#3.1경제독립tv
https://www.youtube.com/watch?v=O0tAUmYcMMc [속보]정기예금보다 5% 더 240만원 개이득! 은행창구가서 이렇게만 하세요! 건강보험료 걱정도 싹 없습니다!]#3.1경제독립tv 나에게 힘이되는 "돈되는 복지정보"!! 최신 "재테크 소식"을 가장 빠르고, 정확하게 받고 싶다면 3.1경제독립tv" "좋아요", "구독", "알림설정" 부탁드리겠습니다!...
Market Update – August 16 – Risk-off flows; Stock markets remain under water
Much stronger than expected retail sales was the main headline and provided a brief spark to Treasury bears. The longer-term Treasury yields hit their highest level this year, i.e. 10-year US Treasury rose to 4.22%, its highest level since November 2022. There was...
WTI Crude Oil Technical Analysis – The fakeout might be a big bearish signal
Crude Oil has been rallying strongly in the past couple of months as the prospects of more economic stimulus from China, the resilience of other advanced economies and the production cuts gave the black gold a tailwind to reach the key $83 level. The first breakout of...
Gold (XAU/USD) Flirts with $1900 Support as Fed Minutes Loom
GOLD PRICE FORECAST: Recommended by Zain Vawda Get Your Free Gold Forecast Get My Guide MOST READ: USD/CAD Retreats Following Hot Canadian Inflation DataGold prices continue to hover around the $1900 support handle following a brief push lower yesterday. Sellers were...
Dollar holds lightly lower to start the session
The dollar is just a touch lower on the day, as traders are settling into European morning trade. EUR/USD is up 0.2% to 1.0925 while USD/JPY is down 0.1% to 145.43 currently. That said, both pairs are stuck in a 27 pips range and a 37 pips range respectively so...
GBPJPY Technical Analysis – Mixed picture but the bullish bias prevails
The BoE hiked by 25 bps as expected as the UK CPI missed expectations across the board and UK employment report showed a mixed picture with both the unemployment rate and wage growth higher. The central bank seems to be leaning more on the less hawkish side as a key...
USDCHF Technical Analysis – Watch this resistance zone for another rally
Last week, the US CPI came basically in line with expectations, but the good news is that the Core M/M reading once again printed at 0.2%. The less good news is that the US Initial Claims spiked higher, but Continuing Claims remained solid. We have already seen Claims...
UK July CPI +6.8% vs +6.8% y/y expected
Prior +7.9%Core CPI +6.9% vs +6.8% y/y expectedPrior +6.9%The headline reading is as per expected, reflecting the big decline in household energy bills in the month of July. But it is all about the core reading, and that is keeping more stubborn and unchanged at 6.9%...
FX option expiries for 16 August 10am New York cut
There aren't any major ones to take note of for the day. As such, trading sentiment will rely more on the technicals (which are favouring the dollar) and also the broader market mood (which the bond market is still being a key influence).For more information on how to...
The things to watch out for in the UK CPI report later
Let's jump right into this. The first thing to note is that headline annual inflation is estimated to fall from 7.9% in June to 6.8% in July. That sounds about right given the near 20% decline in household energy bills but also as food price inflation is supposedly...
How does the Fed pricing look now?
If the narrative is to keep rates higher for longer, then the US economy is certainly doing its part in helping the Fed achieve that. The non-farm payrolls and consumer inflation reports have served to validate the notion that perhaps we don't need any more rate...